Vital retirement moves everyone must make

When our working lives are busy, focusing on the future isn’t always easy. However, to enjoy the fruits of your labour when you retire, putting financial plans in place is critical. Follow these four points to help ensure you’re prepared.

Identify your goals

Begin by imagining the retirement you desire. Where are you living, and how would you like to spend your free time? Do you see yourself travelling or taking up new pursuits? Deciding how you’ll spend your new freedom is an ideal way to start planning your retirement.

Consider your current financials

Now you possess a picture of your retirement, assess your present financial situation to see how far you are from enjoying all you hope to achieve. Consider your debts, expenses and investments, and see how they balance out with help from a financial advisor.

Work out what you need

Now you know where you stand financially, you can calculate whether you’re on track for retirement or whether you need to act now to ensure you achieve your ambitions and desired standard of living. Retirees typically need about 60 to 80 per cent of the income they receive before retirement.

Examine your income and assets

Once you understand your needs in retirement, list all your assets and income sources. Pension pots, personal savings, home equity and investment portfolios will all contribute to your quality of life in retirement.

If you’re seeking retirement planning specialists in Shropshire or Chester, we can help. Contact our expert team at Hartey Wealth Management now to start preparing for the comfortable future you deserve.

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