This is the second of a series of 8 “retirement” blogs – Retirement – will it ever happen? To read the first, click here
You under 50 and haven’t given retirement much thought as it seems like such a long way off. You either haven’t started saving into a pension or you have been paying into one or a number of employer schemes over your working life. You know you have some money in pension(s) but don’t know where you are invested or even how much you pension(s) are worth. You therefore do not know if you are saving enough for retirement or if you are on track to achieve your retirement goals.
Saving into pension early can have a huge impact on your retirement income as can ensuring you are invested appropriately in respect of your attitude to risk and term to retirement.
You may need to think through:
- How much you can afford to pay into a pension?
- Where this should be invested?
- Are you invested in line with the risk that you wish to take?
- What the charges are on your existing plans?
- Are you paying in enough?
- The tax advantages of investing into a pension?
- How much income you may want in retirement and when realistically you want to stop working?
I can help you answer these questions and work with you to structure a bespoke retirement plan that is reviewed on an ongoing basis to ensure it remains on track taking account of your changing circumstances as well as changes in regulation and legislation and goals and aspirations.
My dad said to me recently “retirement does happen” and I am taking his word for it.
If you want me to help structure your future finances contact me.
Next time I will be talking about people who are still some way off retirement but doing nothing is not an option