Quick takeaways

• The retirement readiness survey conducted by PGM reveals that the percentage of people feeling retirement-ready has increased from 49% in 2020 to 67% in 2023, with the pandemic playing a significant role in raising awareness about the importance of long-term financial stability.

• The lockdown induced by the pandemic has led to a higher emphasis on developing alternative sources of income, with 36% of respondents already having a secondary income and an additional 39% actively working towards creating one, indicating a shift towards greater financial resilience and reduced anxiety about the future.

• The survey highlights the correlation between income levels and investment mindset, indicating that as income levels rise, individuals tend to focus more on lifestyle improvements and specific goals, emphasizing the need for personalized financial advice based on individual income brackets.

Deep dives