Pre-retirement

Lifestyle

When retirement is approaching, there are a number of questions that need to be asked and considerations that need to be made:

  • Aims and objectives in retirement

  • The requirement for either fixed or variable income

  • Is there sufficient income from non-pension sources? If so, a pension fund may be retained and passed on to the next generation on death.

  • Has longevity risk been considered? None of us want to run out of money too soon, but we don’t want to leave too much either.

Financial Planning Areas

  • How much income is needed in retirement
  • Identify willingness to take risks
  • Pension options for appropriate level of risk
  • What to do now to work towards achieving retirement goals