What do you see yourself doing in retirement? Cruising the world? Endless rounds of golf?
When we think about retirement we often dream about cruising the world with no deadlines, endless rounds of golf, maybe pottering about in the garden or simply relaxing and maintaining a current lifestyle. Unless you have appropriate pension plans in place, these aspirations will only ever remain dreams.
But I haven’t got any retirement fund, and it’s too late to start.
Too many older individuals resign themselves to the fact it’s too late to improve their pension. The fact is it’s never too late, and it is always worth reviewing your current situation to see what improvements can be made.
I’m young, should I worry about my pension and retirement?
In a world of mounting debt, University fees and student loans, not to mention high house prices and big mortgages, it is easy for young people to put off pension and retirement planning because it seems so far away. There are many excuses why saving for retirement isn’t at the top of your plans, new baby, new house, social life; but the earlier you start, the easier it will be to ensure you have enough money to comfortably retire.
Seems a decent sum of money, doesn’t it? Divide that by 52.
That’s how much money the state pension will give you per week to live on. The National Minimum wage at age 25+ is £281.25 a week, based on a normal 37.5 hour working week*.
But my mate says that pensions aren’t worth the paper they’re written on!
There is much negative discussion in the media around pensions, and many people are left confused and cynical about paying into a pension scheme. It is worth remembering that;
A pension is simply a tax efficient “wrapper” around an investment.
The most important thing is ensuring that you have the right investments and that those investments are managed properly on your behalf. With the right investments, together with the advice to ensure you pay enough into your pension, your dreams of a comfortable and enjoyable retirement can be turned into a reality.
Why should I trust a financial adviser with my money?
Our main role, as financial advisers, is to give you advice on how to manage your portfolio to give you maximum returns. Contrary to popular belief, you don’t need a lottery win or a six-figure salary to get in control of your money. Nsure Financial Services are regulated by the Financial Conduct Authority, and we are also Chartered Financial Advisers – the highest accolade for premier financial planning firms. We also comply with the Chartered Insurance Institute (CII) code of Ethics. These are backed up in our customer charter.
Don’t put off your retirement planning and risk not having the pension that you need to fulfil your dreams. Contact Nsure Chartered Financial Planners now on 01903 821010 or email firstname.lastname@example.org
*Single person pension income as at 5th April 2017