When you get to retirement it is easy to think your investing is done. You’ve grown your wealth, now you sit back and enjoy the fruits of your labour.
If you think this is the case you might be in for a nasty surprise. Here is a list of 16 reasons why it is so important you keep your finances under review in retirement.
- How are you going make sure you can continue to do everything you want in an ever-changing world?
- How are you going to make sure the income you receive is going to live as long as you do?
- How are you going to factor in your likely longevity into your strategy?
- How are you going to allow for the risk of short-term losses decimating the value of your wealth that you are reliant on?
- How are you going to make sure you don’t end your life with too much money that you could have used to do more in your most active years?
- How are you going to make sure you are never taking too much or too little risk?
- How are you going to make sure you are not giving away too much in unnecessary charges?
- How are you going to keep in touch with tax changes to make sure you’re not giving away too much wealth to the tax man.
- How are you going to keep your head when those around you are losing theirs?
- How are you going to work out what a sustainable withdrawal strategy?
- How are you going to adapt your income withdrawal strategy to market and inflationary changes?
- How are you going to maximise investment returns without undue risk?
- How are you going to choose the most appropriate funds and fund managers?
- How are you going to choose the most appropriate product providers?
- How are you going to make sure your husband/wife isn’t going to suffer financially on your death?
- How are you going to make sure more of your estate goes to your family at the end of your life rather than the tax man?
If you want help in review your finances in retirement contact me.