If you are in your fifties or early sixties now is a good time to start thinking about what your retirement income might look like. With our busy lives, it is always easy to put these reviews off as you may feel that retirement is still a long way off and there is little you should do.
When thinking about retirement the first thing you should do is to get a feel of how much income you will need. You want to be in a position that you can comfortably enjoy your well-deserved leisure time.
Work out your retirement budget.
Initially, it is worth looking at what you spend now and how this might change when you retire. It can be surprising how many costs you will no longer incur. Commuting expenses, work clothes, lunchtime sandwiches to name just a few. On the flip side, you may want to spend more time on your hobbies and those holidays you have always promised yourself.
What retirement income might you have?
Your sources of retirement income might be a combination of-
The above is only some of the options available to you and it’s important to assess the ways to use your income in the most tax-effective way. It is also a good time to asses the level of risk that you are taking with your pension and investments.
How Anstee & Co can help you with your retirement income.
We are a firm of Independent Financial Advisers (IFA’s). This means that the advice given by our financial planner is unbiased. So, unlike some financial advisers, we look at all the financial solutions available to you.
Why not arrange a meeting to see have we can help you plan? The initial “getting to know you” meeting is at our expense. We make use of cash flow modelling tools that will help you see what your retirement finances will look like. You can view a short video by following this link to see how this works.
- Kettering, Northamptonshire
- Stamford, Lincolnshire
- London, Pall Mall, Greater London
Also, our financial planners live and make use of meeting rooms in-
- Bedford, Bedfordshire
- Market Harborough, Leicestershire
- Northampton, Towcester, Wellingborough and Brackley in Northamptonshire.
Contact us today to see how we can help you design your retirement.
Finally, the information contained in this article is for information purposes only and does not constitute advice. No action should be taken based on this information alone.