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Average pension in Cambridge
Saving up for your future retirement can be tricky if you don’t know how much to save. You’ve been saving for years, but will your pension pot be enough to give you the retirement you deserve? Comparing your savings to Cambridge retirees can help you understand what to aim for.
We’ve found that people in Cambridge usually:
- Have an average pension of £130,395
- Have a life expectancy of 80 years
- Should expect a pension shortfall of £17,366
Everyone deserves peace of mind that their hard-earned savings will support them through their golden years. With proper planning, you could enjoy a comfortable retirement and achieve your financial goals.
Getting expert financial advice can help you build a roadmap to your ideal retirement. Our service makes it easy to get started and we’ve helped countless Cambridge people connect with the expert advice and support they need.
If you’d like to speak to an expert, you’ll be invited for a free consultation where you can discuss your options and find out whether advice could work for you.
Property market in Cambridge
When you think of saving for retirement, your pension might come to mind. But, if you’re a Cambridge homeowner, you have many more income options to explore. Many retirees let out their extra bedrooms, while others choose to downsize to quieter suburbs. You could also be eligible to release tax-free cash with equity release if your home’s value is at least £70,000.
The average house price in Cambridge is £519,353 according to Rightmove. Rising housing demand means you have the potential to gain a bigger profit if you’re considering downsizing or equity release.
If you’re unsure of whether your pension savings will be enough in retirement, a financial adviser could help. They’ll help you find and compare all your income options. And if you think an extra income boost could help, it may be worth speaking to them about the value in your home.
Chesterton
You’ll find this Cambridge suburb in the northeastern corner of the city. While it may not be as lively as the city centre, it still has a lot to offer. Walk along Chapel Street and you’ll spot a grand Grade I listed medieval tower. There’s also plenty more history to enjoy with a trip to the Cambridge Museum.
Grantchester
Made famous by the ITV detective drama series, Grantchester is the ideal retirement spot if you’re looking for quaint village charm. There you’ll find Byron’s Pool, the spot where Lord Byron once swam, a grand medieval church and thatched cottages. The quaint village was also home to David Gilmour, and inspired the Pink Floyd song, ‘Grantchester Meadows’.
Hemingford Grey
Walk around in Hemingford Grey and you’ll feel like you’ve gone back in time. While it’s only about a 45-minute train from Kings Cross, the charming village feels a world away. Lush fields and meadows surround the village and thatched cottages line the streets. It’s also home to an award-winning pub.
Why it's important to get pension advice now
How you spend retirement is up to you. Whether your ideal retirement means exploring new hobbies or working part-time, financial advice could help you realise that dream.
You may have more questions than answers when it comes to how much you should be saving for retirement. But don’t worry - we’re here to help. We’ve designed our free service to help you connect to an expert adviser in no time. Your expert will then invite you for a free consultation, where you can get helpful guidance and learn whether financial advice could work for you.
Personalised financial advice isn’t free, but it could help you build a secure financial future. Gaining peace of mind and confidence could go a long way to help you enjoy a worry-free tomorrow. Your financial adviser will work with you to help you understand your goals, form an action plan and help you stay on track.
Ready to meet your expert? Click the link below to connect with a local adviser in your area in just 60 seconds!