We spend years paying into pensions and savings, but it’s easy to think of retirement simply as an age we’re working towards.
A more useful question might be: what do you actually want your retirement to look like?
For some, that means stopping work. For others, it might mean reducing hours, travelling more, helping family or simply having more time to enjoy life.
Once you understand the lifestyle you’d like, you can begin to work out what it might cost and look at what your pensions, savings and investments could potentially provide.
That can be surprising. You might discover there’s a gap between where you are and where you’d like to be, giving you time to review your plans. Or you may find you’re in a different position from the one you imagined.
That’s why retirement planning isn’t simply about how much you should be paying into a pension. It’s about understanding what you have and what that money could allow you to do.
If you’re starting to think about retirement, I’d be happy to have a conversation about what it could look like for you.
