Retirement Planning

Your goals in retirement

Recent studies suggest there is a growing gap between the amount of money that people are saving and how much they need to save to ensure a comfortable retirement, with around half the UK population failing to save sufficient funds for their retirement.
You might not want to think about it now, but sooner or later being able to retire when and how you want is likely to be one of your most important financial objectives. Achieving a comfortable retirement will take planning and implementation. Unless you are in the fortunate position of having a final salary pension scheme which is not underfunded you will almost certainly need to augment your state pension. Remember: you could spend a third of your life in retirement.

Retirement planning strategies

As well as your age and the number of years before retirement, your planning strategy will be determined by a number of factors:

• Is there a company pension scheme?

• Are you self-employed?

• How much can you invest for retirement?

• How much state pension will you receive?