If you are planning for a better financial future in retirement we have identified four actions which may help you create that plan.
Be realistic about your retirement aspirations.
Retirement can offer many choices. Decide what kind of retirement you want and be honest with yourself about how much it will cost.
Review your long term working plans.
Consider at what age you can realistically afford to fully retire, and if you expect to semi-retire or keep working for longer.
Consider your wider financial commitments.
Providing financial support for family members – your partner or spouse, your children, your ageing parents – may be a reality through your working life and into your retirement. Consider your own and your family’s long-term financial needs, and make sure to include both in your retirement planning.
Have a clear retirement plan.
Consider how you will fund your retirement and don’t bank on receiving an inheritance. Make sure you have a realistic financial plan in place and seek professional financial advice if you need help. You can start this by obtaining a pension review from us.