Ten years might sound like a long time. It isn’t.
When it comes to preparing for retirement, a decade can disappear very quickly.
Most people drift into their last working years without a clear plan, and then find themselves scrambling in the final stretch.
Why the Final 10 Years Matter Most
In your early career, habits matter more than amounts. In your last decade, strategy matters most. Every pound can be optimised for growth, tax efficiency, and future flexibility.
Your 10-Year Retirement Roadmap
10 Years to Go – Define the Destination
- Set your retirement lifestyle number.
- Include travel, hobbies, family support.
- Factor in inflation.
7 to 9 Years to Go – Build the Engine
- Maximise pensions and ISAs every year.
- Rebalance investments for the right mix of growth and security.
5 to 6 Years to Go – Reduce the Drag
- Pay off expensive debt.
- Restructure business or property holdings for tax-efficient exit.
3 to 4 Years to Go – Test Drive Retirement
- Live for a year on your projected budget.
- Adjust now rather than later.
1 to 2 Years to Go – Lock in the Foundations
- Finalise your withdrawal strategy.
- Update wills and powers of attorney.
- Stress-test against worst-case scenarios.
A Real Example
A business owner I worked with thought he needed to sell his company in a rush. By starting his exit plan seven years out, we staged the sale, minimised tax, and let him hand over on his own terms.
Why This Works
The earlier you start, the more options you have. The later you leave it, the more compromises you’ll make.
If you’re within a decade of retiring, the clock is ticking. Let’s use that time to build the retirement you want – not the one you settle for.
