One in five is saving for retirement by buying houses

A recent study by the ASF reveals that 45% of Portuguese citizens are financially preparing for retirement, yet many rely on low-yield bank deposits. While 35% aim to supplement their retirement income, over half of respondents do not save for retirement, often citing insufficient resources. The report highlights a significant reliance on real estate investments, with 17% investing in properties beyond their primary residence. Despite awareness of retirement savings products, only 28% have dedicated retirement savings plans. The study emphasizes the need for improved financial literacy and long-term savings mechanisms to enhance financial security for retirees in Portugal.