No investment decision should be taken based on the content of this site.  Always take full individual advice first.  The regulations governing tax rates and investments may change in the future.

Finantium is not responsible for the accuracy of the content of sites linked to from the Finantium website.

Approaching Retirement

Approaching Retirement may be interpreted by people in a couple of ways.

A) It could mean an imminent retirement is due within a short time

Or

B) It could mean the process you may follow in securing the retirement you want.

In the first case (A), some people look forward to it and others approach it with trepidation.  The people who look forward to it have usually planned for it in some way.  They know what they would like to do in the future.

This happens in some cases because this is usually underpinned by the fact that the person will have sufficient income to do what they have set their heart on doing.

In some cases, it leads to disappointment as the person realises that he or she does not  have quite enough income to do what they set their heart on doing.

(And we need not be talking world cruises here; it may be as simple and profound as finally being able to spend worry-free time in the company of the person you love; or helping children or grandchildren, secure in the knowledge that you can afford to do so.)

When people approach retirement with trepidation or dread it is for a number of reasons. The main one for most people is the knowledge that they will not have enough income to live the life they used to.

And here’s the thing, for some people, they are right.  But for others, because they don’t know how much they can spend and still not run out of money, they hoard their income and assets and stop themselves having the lifestyle they want.

And that really is a shame.

The good news is that Finantium can help.

By working with you we produce a lifestyle income forecast to let you know how much you can spend and not run out of money, and we assume that you will live to 100. Of course, if you feel you will live longer than that, we will work on any age you would like.

This approach is like the second case above (B), which means that it is never too late to look at your approach to retirement. This is what financial planning is all about, and is just one of the things that a financial planner does.

For some people, option (B) starts  very early, especially if they are clients of ours.  Approaching retirement ( the process) is not about which product or provider is better; it is about ensuring that you have the lifestyle you want, when you want it, knowing that you will have the income you need to enjoy it.