An Introduction to Retirement Planning
Retirement planning involves visualising your key goals for your retirement years and setting up a plan to help you achieve those goals through financial planning.
When visualising your retirement, you need to ask yourself:
- Do you have a bucket list which may mean spending more in retirement?
- How much money will you realistically need to live on during retirement?
- What pension savings do you have and what income will these provide?
- What age do you want to retire at?
- Do you want to retire fully or consider a phased retirement?
- What State Pension are you entitled to and
at what age will this be paid?
- Are other considerations such as passing money down the generations important to you?
Any additional capital needs in retirement that impact your retirement savings?
- How long can you expect to live?
If you want to prepare for the lifestyle that you want in retirement, please read the guide below.