Regrets, we’ve all had a few, but pension income shouldn’t be one of them. Hopefully, that’s where you will be as you arrive at retirement age.
When you reach retirement it should be a time to relax, start new adventures and enjoy yourself. You have worked hard and saved, making sure you plan for the future.
Exotic holidays, a new car, home improvements – the things you might have put off before should be accessible.
Some will choose to continue working, maybe in a part-time job. Others will expect to live on a regular pension income. After all, they have saved into a company or private schemes over many years.
For some, this is when they realise that their pension pot has not grown enough to support their retirement dreams.
That could be due to insufficient savings over the years. Perhaps they started the fund late? Also, how the investment was managed could have been an issue.
Plan early for retirement success
Never put off until tomorrow what can be done today. Sound advice, and applied to many things in life.
For pensions and investments, such thinking is essential. Taking positive action early will put you in control. There will be less uncertainty in later years.
To achieve that you should invest in amounts appropriate to your earnings. In the early years that should be as much as you can afford.
Then, during peak salary years, often in the 45-55 age range, you should aim to save more.
With increased disposable income it’s tempting to spend it as you earn it. So you should, but not all of it.
If the mortgage is cleared, that’s the perfect time to boost your pension pot. For the sake of a few more years of saving, retirement income can be considerably boosted.
And remember, you are not simply investing to cover a few years. As people live longer and are fitter and healthier in later life, you will need a consistent income for longer.
The result is that you will put yourself in a much stronger position to enjoy the things you have planned for.
Take independent advice to boost your pension
Online advice has equipped everyone with financial information. There are so many sources of data, facts, figures, and investment promises. The question is who do you trust?
When it comes to money and your future income, that’s a big deal. It should never be a quick fix. Getting the best solution to suit your circumstances is the objective.
That’s why independent financial advice pays real dividends in the long run. You outline your hopes and dreams, and you are presented with a range of options to help you realise those dreams.
Crucially, you should always be fully informed and have choices.
We listen, advise and let you take in the information. Only then, when you are equipped with all relevant details can we help you make informed decisions about your retirement investments.
Get in touch on 0808 1234 321 (freephone) or email firstname.lastname@example.org and we’ll start discussing the best way forward.
And let’s start NOW.