People incurring PPI charges may be interested to hear that an expert has suggested that they need to plan for their retirement ten years before they plan to stop working. Sarah Pennells, editor of SavvyWoman.co.uk, a finance website for women, claims that consumers need to work out what they want from their retirement. She said: "Do you want to take back-to-back holidays or are you happy staying closer to home? Are you prepared to work full-time or part-time beyond retirement age? "The best thing to do is to work out how much you might need when you retire at least ten years before you stop work." Ms Pennells claims that if there is a big gap between what you have and what you will need, then you will have to find ways of making up the difference or cutting back on spending. Her comments follow research by AXA Wealth, which found that over 40 per cent of those aged between 16 and 34 who invest in a pension said they would like to have access to it early. Samantha Clarke Samantha is a former banking assistant and has over ten years experience in retail banking.
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