Tip! Of course the earlier you start your process of retirement planning the better but even if you do not have a long time left to save for your retirement you should still consider retirement planning. Recently there have been many changes to the charging structures applied by the Pension Providers.
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Going into retirement without having done any form of financial planning is to be compared with walking the high-wire without a net! Everything is fine whilst the going is good, but come the first glitch or setback and disaster is just around the corner.
I don’t mean to be the bearer of bad news here, but the sooner you realize that something needs to be done about the situation, the easier it will be to get something started.
You need to sit down today and take a look into the future, try and imagine what sort of lifestyle you will want to be living in your retirement. Do you imagine you will just be able to carry on with your present day to day life? If so, you are going to need some method of producing the same income as you are earning now, BUT WITHOUT WORKING! sorry to shout but I thought you needed to be woken from your daydream!
Do you have savings that are predicted to be earning interest equivalent to your present earnings? if so, take a pat on the back, but just to be sure, I would check again. The words “predicted earnings” and “future forecast” together with high percentage figures, are terms that are freely hinted upon by policy salesmen at the time of signing, but somehow avoided nearer to the time of payment!
Tip! The best way to help you start making your retirement planning is to consult your
