Retirement planning business & personal
If you had been employed for 30 full years or more, making National Insurance contributions, you would qualify for the state pension. However, with the UK facing on-going economic challenges, and many pension schemes remaining underfunded, it is essential to ensure that you choose an appropriate pension scheme. More than half of UK population are not saving enough funds for a good retirement, and one fifth are failing to save anything at all. To live comfortably a retirement income of two thirds of your annual salary is recommended.
What do you really want out of life?
Whatever anyone really wants out of life it’s important to prioritise ones goals. Once you know where your want to go it’s far easier to develop an investment strategy to get you there. However it’s surprising how many people, despite having clear ‘wish lists’ of what they want out of life fail to plan ahead or put into place any kind of strategy that will help them achieve their goals. This is true of what they want in their working lives and into retirement years.
A “comfortable” retirement
Enjoying a comfortable lifestyle in retirement requires sufficient levels of funds for desired homes, holidays and pastimes. Pension income alone is seldom enough to fund everything. By having a well-defined long term plan it’s possible to develop an investment strategy that will provide funds at important times in life.
You are going to spend a third of your life as a retired person, and by taking action now, you can help to make this period as financially secure as possible, If you are not in a company scheme, you should make your own arrangements, since relying on the state pension is already questionable and will become more so with each passing year.
Building a balanced and well-defined portfolio can help ensure you get what you really want out of life. With careful planning it’s possible to achieve the kind of lifestyle that may have otherwise been beyond your reach.
To speak to us about putting a plan in place please Contact us.