The ultimate retirement dream is actually very simple – financial security for the rest of your life.
Hopes and dreams
Financial security is our biggest retirement wish.
Other retirement aspirations include:
- Being able to maintain one’s desired lifestyle (94%)
- Spending time with family (90%)
- Being able to afford care if required (81%)
- Being able to afford big family events, such as weddings (73%)
- Travelling (72%)
- Being able to support family financially (69%)
However, you could end up needing more money than anticipated.
Avoiding the shortfall
Due to rising life expectancies, many people can expect to spend several decades in retirement.
You therefore need to give careful consideration to the below:
How much do you need? – what level of income will you need for your preferred lifestyle?
What do you have? – let’s take stock of your pension(s), savings and investments, and any other assets you currently have.
Make 2024 the year you make your retirement dreams come true.
When do you want to retire? – this will give you an idea of how long you have to save before entering retirement.
Think about tax – there are serious benefits to properly utilising the tax allowances available to you.
Due to rising life expectancies, many people can expect to spend several decades in retirement.
Take advice – people who take financial advice can expect to retire three years earlier on average. Advised consumers also believe they can fund their desired lifestyle for six years longer than their non-advised counterparts.
Achieve the dream in 2024
Make 2024 the year you make your retirement
dreams come true. We can help you work
towards enjoying the retirement you’ve always
dreamed of. Please contact us to discuss how
financial planning could assist your retirement
and later years.