Kevin Quick, Skipton Senior Financial Adviser
4 June 2026
Retirement gives you the space to focus on what matters to you. Family. Friends. Hobbies. Holidays. It’s a chance to build new routines, shape a new lifestyle, and enjoy a chapter of life that really could be the best one yet.
That’s the dream anyway.
The reality? A happy retirement doesn’t just happen. It needs planning. And there are some big decisions to make – especially around your money.
As a financial adviser at Skipton, I help people get ready for that moment and make the move into retirement with confidence. It’s a big change. And when it’s done well, it can be incredibly special.
When is the right time to think about retirement?
Short answer? It’s never too early. And here’s why.
- While you’re working, your income pays for everyday life.
- When you retire, that income stops – but your lifestyle still needs funding.
You’ll probably receive the state pension. But on its own, it’s unlikely to give you everything you want or need. That’s why building up pensions, savings, and investments really matters.
Do you have a pension? Are you paying enough into it? Is it set up in the right way for you? And what about your other savings and investments?
At this point, you might be thinking, “That’s a lot of questions.” Fair enough. This stuff can feel complicated. And for many people, it’s easier to put it off.
But the questions don’t disappear. And the longer you leave them, the harder they can be to answer.
That’s why the right time to think about retirement is now. The sooner you look at your plans, the more time you give yourself to build something stronger.
And your future self will almost certainly thank you for it.
How do you know how much to save for retirement?
Everyone’s answer is different. It comes down to you. Your life now, and how you see it changing when work stops.
A good place to start is your current spending.
- Some costs probably won’t change much in retirement – like your weekly food shop.
- Others might disappear altogether – commuting costs, for example, or a mortgage you plan to pay off before you retire.
- And some could go up – if you’re home more, energy bills might rise. You might eat out more. Travel more.
Beyond what you do now, it’s about what comes next. So, if you have big ambitions – like special holidays – this is a chance to put some numbers behind those dreams.
Next, it’s about time. How long might your retirement last?
Latest Office for National Statistics data says the average UK life expectancy at age 65 is 86.2 for females and 83.7 for males. The number of over 90s in the UK right now is 53% higher than it was two decades ago.
What this shows is that your retirement could last many years. Which means your money needs to last too.
That’s why saving enough – and making sure what you save is working hard for you – really matters.
What’s the best way to manage your pension?
If you’re paying into a pension, that’s a great start. But it’s worth asking a couple of important questions. Could you be saving more? How much do you need? Is your pension set up in a way that really suits you? Will it be ready to start using when you’re ready to retire?
These aren’t always easy things to think about. And you’re not alone if you’ve been putting them off.
- 10.7 million UK adults say they’re either too confused or too busy to think about their pension (Money and Pensions Service, November 2025).
- 47% of UK adults can’t put a figure on how much they have in their pension savings (Standard Life, September 2025).
- One in three adults admit they have a pension “somewhere” that they have completely lost track of (Moneyfarm, January 2026).
If any of that sounds familiar, don’t worry. I speak to plenty of people who feel the same way – and the good news is, you can do something about it.
You can have a pension review, where your plans are looked at and explained clearly. You’ll see how everything stacks up, what’s working well, and what might need attention.
You don’t have to have all the answers. You just need a place to start.
How to start preparing for retirement
The final few years of work really matter. And there’s a lot to think about. When you can retire. How you’ll use your pension – whether that’s taking a lump sum, setting up an annuity, or leaving it invested.
Timing matters too. Market ups and downs can affect the value of your pension. So can rising living costs, potential later‑life care needs, decisions like downsizing, and what kind of legacy you want to leave behind.
Having the right support could make a real difference.
That’s where we can help.
With financial advice from Skipton, you get a personalised approach that helps you count down to retirement and move into it smoothly.
It starts with you.
Your situation. When you’d like to retire. And what you want life to look like when you get there.
From there:
- Your savings, investments and pensions are reviewed to see how they’re shaping up. This includes helping you think about any old pensions you paid into earlier in your career.
- You get clear, personalised advice on what you could do in your final working years to put yourself in a stronger position.
- And when you do retire, you can get help setting up your finances in a way that supports your new lifestyle.
A pension can be a great way to invest for your future. Like any investment, its value can go up and down, so you could get back less than you put in. If you take too much income too early, you could run out of money. You may also need to pay tax on money you take out.