savings

Retirement

Financial crisis delays Retirement

Small–business owners are being forced to shelve their retirement plans because of the deepening economic crisis, according to financial services firm Clifton Asset Management (CAM). CAM’s survey of more than 1,000 small–business owners revealed that 42% blamed the credit crisis for dealing a ‘major blow’ to their retirement prospects. The research also found that 40% said that their pensions and savings were their main concern, with an equal number saying that the bleak economic outlook had severely affected the likelihood of finding an interested buyer. CAM director Anthony Carty said: “The ongoing stock market turmoil and the bail–out of the banks will do nothing to calm people’s fears when they weigh up their retirement options in the com... »