One crucial thing people forget to plan for before retirement

manchestereveningnews.co.uk:

An expert has highlighted a critical aspect that individuals often overlook when planning for retirement. Consultancy firm Barnett Waddingham reports that only 19% of UK savers have fully contemplated the implications of contracting a serious illness during their retirement.

The company's At Retirement Reckoning report, which surveyed 5,000 people, discovered that merely a quarter of those under 50 have prepared for this possibility, compared to 16% of those over 50.

Just over two-fifths (43%) of the latter group admit they've considered it but haven't incorporated it into their retirement plans.

A third (32%) haven't thought about it at all. Furthermore, only 17% of all respondents have considered the potential need for care.