Tagged with 'retirement'

Now that the economy seems to be righting itself, if even just a little bit, it is time for people to get in the habit of saving again.

Regarding that situation you choose for retirement- everyone’s is going to be different and all investment decisions should be tailored to that reality. However, there are some general investment choices that can more generally be applied to yield a good return for your golden years.

If you have any genuine ambitions of enjoying a pleasant life after your retire from work, there is a need to have a solid pension plan in place and the longer you wait, the harder it will become to sort your finances for your later years.

In the case of retirement, the earlier you start thinking about saving, the more time you’ll have to explore all of the different retirement income options you will be presented with when you reach pensionable age.

With a raft of pension and benefits-related measures unveiled in the past year, I think now is a particularly good time to look at your current situation and consider what, if any, changes need to be made.

Is it achievable? The perfect pension would be one that lets us live a comfortable life when we’re no longer able to work.

In reality, there are several reasons that people decide upon it, and it’s not exclusive to those that have a huge portfolio. More and more people are realising that investment is more accessible than they had previously thought.

Some people find thinking about the future so stressful that they refuse to do it; this is the worst possible thing to do. A person who has not done any planning for their future may suddenly find that they have no money but cannot get a full time job in a new career.

For some people it does not make sense to take an early release, but for others it could be an ideal decision. It is very important that you understand all of the facts before coming to a decision.

Income Drawdown however, is quite different, and is recommended to those who are looking to have more control over their income in later life.