19 April 2021
We start saving too late; we save too little; we spend what we can access when leaving employment; we retire with debt; we don’t review our retirement savings periodically and we don’t get advice from a professional financial planner. In one sentence Linda sums up the reasons so many people face their retirement with anxiety and dread. She offers the following facts to consider that tell a bleak story:
Added to this conundrum, says Linda, are the risks at retirement. She lists them as follows:
With this backdrop, there are many important, complex financial decisions to make when you retire. There are many options available to provide for your retirement, and there really is no one-size-fits-all solution. Combining solutions could provide the best answer to ensure sustainable retirement income.
However, choosing solutions and combining them for best effect, is tricky and has to take into account many factors that are unique to the person for whom the plan is being designed. The image below outlines the solutions available that can be combined, and their features that are taken into account to tailor a plan for your unique needs and lifestyle.
Here are some of Linda’s tips for people facing retirement, to help ease some of the anxiety you may be feeling: