10 Actions To Take In Your 50s To Prepare For Your Retirement
A practical guide to help you understand whether you are on track for retirement and the key financial decisions to consider in the years before you stop working.
Many people reach their 50s and realise retirement is no longer a distant idea. It is something that could be only ten years away.
At this stage of life the big financial questions begin to surface.
Will we have enough to retire comfortably?
What income will our pensions provide?
When could we afford to stop working?
What financial decisions should we make before retirement?
This guide has been created to help you start thinking about those questions and understand the steps that can help you prepare for the next stage of life.
What the guide covers
A practical guide to help you understand whether you are on track for retirement and the key financial decisions to consider in the years before you stop working.
Inside the guide you will find ten key areas that people approaching retirement often need to think about.
These include:
• Understanding how much you are currently spending and what you might spend in retirement
• Thinking about the lifestyle you would like when you stop working
• Estimating what income you are likely to receive from pensions and other assets
• Identifying whether there is a gap between the income you need and what you expect to have
• Considering one off costs such as helping children, travel or home improvements
• Reviewing pensions and investments to ensure they are working effectively
• Deciding how much you should be saving in the years before retirement
• Reviewing mortgage and other debts
• Ensuring you are financially resilient if life does not go to plan
Working through these areas can give you a much clearer picture of where you stand and what decisions may lie ahead.
Who this guide is for
This guide is designed for people who are beginning to think seriously about retirement.
It may be particularly useful if you:
• are in your 50s or early 60s
• are within ten years of stopping work
• want to understand whether you can afford to retire
• want clarity about your future retirement income
Many of the people we work with reach this stage of life and begin asking exactly these questions.
About Andrew Neligan
Andrew Neligan is a retirement financial planner based in East Devon. He has more than twenty years’ experience helping individuals and couples approaching retirement make informed decisions about their money.
Andrew specialises in helping clients understand whether they can afford to retire and how to turn their pensions, investments and savings into sustainable retirement income.
He is both a Chartered Financial Planner and Certified Financial Planner, a combination held by only a small number of advisers in the UK.
Get the Guide
To get the FREEE guide, just click HERE.
If reading the guide raises questions about your own situation and you would like help understanding your retirement options, you can learn more about how we help people approaching retirement here.