Retirement plan checklist
A checklist can be a good place to start when it comes to making retirement plans. It could help you:
- decide what sort of retirement you’d like to have
- check how much your pension income might be and how much you might need to top it up
- create a savings budget
- explore methods of saving that suit your current circumstances and have the most potential to help you achieve your goals
- booking regular reviews with a financial adviser can help (before or after you're retired) to see if your plans still suit your requirements.
A financial adviser might also recommend investing, which could be a good way to grow your funds. If they do, it’s important to understand that investing isn’t the same as putting your money in a savings account. It puts your capital at risk because the value of your investments can go down as well as up and you could get back less than you originally invested. If you invest then you should invest for at least five years, and be comfortable with the risk involved.
We’ve also created a Retirement Planning Budget Sheet designed to give you a rough idea of what your income and outgoings might be when you’re retired. It won’t give you definite answers though, so if you’d like a more detailed analysis, our financial adviser might be able to help.
It doesn’t cost anything to see if we could help you with your retirement plans. Call 0800 731 5342 to book your free initial chat to see if you could benefit from financial advice. There’s no obligation to act- our No Pressure Promise makes sure of that. You won’t incur any charges unless you act on our recommendations.