Last night marked the first night of Hanukkah, the eight-day Jewish Festival of Light. The story of Hanukkah goes back more than 2000 years to the Maccabean revolt against the Babylonian Greeks. After defeating the Greeks, the Maccabees returned to their temple but found it had been defiled. The Maccabees could only find enough oil to burn in their sacred candelabra for one night. The miracle of Hanukkah ensured that the oil burned brightly for eight nights until they were able to produce more. Today Jews around the world celebrate Hanukkah by lighting candles, singing songs and most enjoyable, eating all manner of foods fried in oil.
Although in one poll, 13% of adults over 50 said they were relying on winning the lottery to fund their retirement, we suggest not relying on a miracle. A better idea is to think about the sort of retirement you want and how much pension savings you will need to achieve it. Why not look at our tool on how long your pension will need to last. The earlier you start saving for your pension, the greater opportunity your money has to grow.
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