Workers extend their careers for a multitude of reasons
When do you plan to retire? Saving for your retirement is a lifelong undertaking – and if you want to enjoy a comfortable retirement, you can’t start planning soon enough. The more you contribute to a pension now, the better chance you’ll have of that money growing and funding your retirement in later life.
Exactly how much you’ll need for a comfortable retirement will depend largely on your cost of living and lifestyle choices. For many people, retirement is about sun-soaked holidays, leisurely rounds of golf and that boat they’ve always coveted.
For most people over the age of 55, it is now possible to cash in or unlock all of your pension. How you take these benefits will depend on the type of scheme you have and how you want to take benefits. But concerns have been raised that some savers may risk running out of cash if they siphon too much out of their pension pots.
Families left in a precarious situation if the unforeseen were to happen
We all intend that our plans will come good. But making sure that you and your family can cope if you fall ill or die prematurely is something we can too easily put to one side. In particular, a recent study identified that financial protection is something that millions of fathers in the UK, and their families, could benefit from.
Whatever you want to do when you retire, the better prepared you are, the more rewarding it will be. It’s important to assess the key aspects that will influence your retirement, as the decisions you make can have a real impact on your savings. There are some important considerations to think about.
Your home may be repossessed if you do not keep up the repayments on your mortgage.
Decisions should not be taken based solely on the content of the website and individual advice should be sought first.
Regulations, levels and bases of taxation are subject to change.
Registered Office: The Old Cider Mill, Glewstone, HR9 6AS Registered in England and Wales number Company Number: 7061799
The material on the site is the copyright material of RJS Financial Ltd. You may not copy, reproduce, republish, disassemble, decompile, reverse engineer, download, post, broadcast, transmit, make available to the public, or otherwise use RJS Financial Ltd content in any way except for your own personal, non-commercial use. This includes but is not limited to all individual fund manager data such as rankings of fund managers and ratings of fund managers. RJS Financial Ltd does not accept any liability for your reliance upon, or any errors or omissions. Any other use of RJS Financial Ltd content requires the prior written permission of RJS Financial Ltd.
RJS Financial Limited is authorised and regulated by the Financial Conduct Authority, registration number 656599