Don’t rely on the lottery funding your retirement.

buy your lottery tickets hereAn article  in the Express Newspaper today in UK gives details of research by the Equity Release Council (ERC) which shows that one in four Britons are banking on a lottery win rather than saving regularly for a comfortable retirement. The chances of winning the lottery are some 14 million to one against winning anything so you would have to live for a rather long time to be sure of a win.

There is a more serious side to this though isn’t there?

As a retired person myself we were always led to believe that we had to put money aside for retirement – somehow. It is difficult and we know from our own experience that saving for something that is going to happen sometime out there in the future is not top of the list when you are raising the kids and have lots of other pressing needs for your funds.

It seems from this report that the current generations are finding it even more difficult than we did in our early days.

  • Younger adults are finding it most difficult and over one third of the 21-30 age group say they cannot afford to save anything at all.
  • Seven in ten adults think the best time to start this saving is when you get started in full time work. This is true but less than half do this, and of course the job market at the moment is itself difficult.
  • Only 22% of people apparently feel that saving is the best chance to get financial security in later life, and if this is the case we have to ask how else those 78% would have money for retirement
  • The answer is that 24% of adults and this rises to one in three as you get to the 61 to 75 age range feel that the lottery is the best chance of a happy retirement once they stop working.
  • Many people – almost a fifth – save nothing until they are offered a pension by their company. The problem with this is also that we don’t have security of tenure with companies these days as we used to ands also many companies cannot afford to pay pensions as they did in the past. Pensions will support us in retirement but are not likely to give us the lifestyle we might have become accustomed to.

Putting off saving doesn’t help.

Of course it also goes without saying that the more you put of saving for retirement the more you will have to save each month to make up for starting late. This rises a lot as you get older. In the same article Danny Coz from Hargreaves Landsdown stated that to get a pension of 10,000 sterling at today’s terms at age 65, you would need to put aside 240 pounds gross per month if you are in your twenties. If you wait till you are in your fifties this rises to 1350 pounds per month!

 So what should we do?

So is this one of those things that is changing and we just have to accept that we can do not much more than try the lottery, even if we have  a work pension?

I think there is an alternative and it is free to start with. Build your own home based business. It may take some time  to get this going in your spare time that none of us have when we are younger but as time goes on and you expand this it will make money and then as you get to retirement you can work full time on it if you want to.

  • It is never too late to make a difference to your income and so why not start now? Any contribution to your pension pot will be welcomed won’t it?
  • Online shopping and the web purchasing is here to stay and is growing as third world countries come on line. Wouldn’t it make sense to be part of this growing trend?

Can you get an education for this?

The straight answer to this is YES. We went looking and spent a lot of time reviewing many of the scams out there and eventually settled on Wealthy Affiliate who are our training vendor now.

  • We strongly recommend you give it a try because it’s free to start and then you can make an informed decision as to whether you want to carry on for less than $1 per day (75 pence sterling)

Here is our offer to you.

If you have any question please leave them below or send them to us at We are committed to helping people get started in an online business and will work with you through Wealthy affiliate training to get you started. You know it makes sense to earn more money for your retirement – so why not give it a try.

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Yours in business,



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