Think you will be able to retire at 65? Will you be able to afford it? If you answered no, you’re not alone. What’s worse Bermuda residents are planning properly for their future.A new study out today shows that half of all Bermuda residents are not ready for retirement.The results, released by the Argus Group, showed that 50 percent of people do not have a financial goal in place and that younger residents, ages 18-35, are less likely to understand their pension statements.The study, conducted Bermuda Omnibus, also finds the vast majority (80 percent) of those surveyed said they have not changed their retirement plans despite the global recession. Those who had were most likely to have adopted a more conservative approach with their money and/or investments. Other changes made included delaying retirement (19 percent), changing investment strategies (17 percent) or cutting back on expenses (15 percent).Lauren Bell, executive vice-president of Life & Pensions for The Argus Group said, even though times are hard, people need to think about the future. “We recognise that these are tough economic times for Bermuda residents on every possible level,” she said. “It is vital that people do not jeopardise their long-term financial goals by adopting ill-advised strategies in the short-term.”To help people plan better, Argus has launched a user-friendly online Retireement Calculator to assist people, of any age, determine if they are on track to meet their long-term financial goals. The online tools are free and available to both Argus clients and the general public on the company’s website, www.argus.bm.