Living for another 30 years after work isn’t just a possibility, it’s a probability. Whether retirement is many years away or just around the corner, unless you start planning for retirement now, there is a great danger that you could outlive your savings.
The earlier you start planning, the easier it will be to create the retirement lifestyle you want. As the UK’s population is living longer, planning in advance for retirement is becoming even more important. For most of us, the State Pension will not provide adequate funding in retirement to maintain the lifestyles we have become accustomed to during our working lives. Putting in place the right provision will ensure that you enjoy a comfortable retirement, free of money worries and with peace of mind that you will not outlive your funds.
It’s never too early – or too late – to think about your retirement. For many people, the savings that are accumulated during their working lives are directed at helping them to become financially secure in retirement. But, too often, some people continue to save without a clear view of how much money they will need to live the life they desire for the entirety of their retirement. This can create uncertainty around when they can retire in alignment with their financial goals