Most people would describe themselves as ‘in control and organised’ when planning for their retirement, according to new research from private and commercial bank Arbuthnot Latham.

Having surveyed nearly 300 respondents, Arbuthnot discovers their attitudes towards retirement based on how they plan to spend their time, where they will live and how they will fund their retirement.

Arbuthnot Latham found that 31% of respondents felt ‘in control and organised’, which means they have made some future life and financial plans and have a good idea of how they will spend their time once they stop working.

Just over 30% of respondents didn’t fit a clear attitude with answers spread over several profiles, showing mixed attitudes towards their life after work in terms of readiness and preparation.

Around 19% expressed a ‘cautiously optimistic’ attitude. These people are less certain about what the future holds and might benefit from spending some time considering their future wants and needs and developing a plan to help them enjoy their retirement when it comes.

Of the remaining respondents, 10% would describe themselves as ‘adventurous and energetic’ and the remaining 10% were ‘open to options’.

Those who identify as ‘adventurous and optimistic’ are planning to live life to the full, enjoying every minute of their retirement, filling their days with new experiences. Those ‘open to options’ may be further away from retirement and as yet have not given their retirement too much thought.

Steve Pennington, Head of Wealth Planning said:

“It is reassuring to see that people feel that they are taking control of their future and putting in plans for their retirement. Of course, feeling in control and actually being in control can be different things, especially as events change. We’d advise anyone to review their retirement and general financial plans on a regular basis to ensure they remain fit for the future.

No two people are the same, everyone has different aspirations as to retirement lifestyle, where they want to live, and how they plan to use, invest, preserve and pass on their wealth.

Arbuthnot Latham also have provided the five most common attitudes to retirement:

A: In control and organised

It sounds as though you will be ready for retirement when it comes. You have made some plans and have a good idea of how you will spend your time – and who you will spend it with.

B: Adventurous and energetic

Wow. You are really planning to make the most of your retirement. It sounds like you will be busier in retirement than you are now. To ensure you can enjoy every minute, careful planning and having a timeline for your decisions now will help you live the life you want tomorrow – and make sure you can afford to do everything too!

C: Cautiously optimistic

You might be worried about losing a sense of who you are as you retire, but remember you are more than your job title. Spending some time now to think about the things you want to achieve before and after you retire could help you visualise your future and the things that are most important to you. Your retirement will hopefully last a long time. Make sure you fill it with the things you love.

D: Open to options

You may not have considered retirement yet, it might still be a way off. However, the earlier you plan, the more choices you will have when the time comes to consider this in more detail. Why not discuss your future with your loved ones to see if you are aligned in terms of plans for life beyond work? You might just surprise yourselves. If you would like to see what your financial future might hold, our cashflow modelling tool lets you build different scenarios to visualise what options you might have.

E: A bit of everything

You carve your own path. Maybe you have some plans in place but want the flexibility to change these over time. Taking control of your financial future now may give you the freedom to explore different options in the future.