Most people here in the UK look forward to the day they stop working. After all, retirement offers the chance to spend more of your time with the people you love and enjoying the pastimes and pursuits you favour free from any restrictions.
While this part of your life can offer a new sense of freedom, having adequate provisions is essential to appreciate it and be financially secure.
Many savers put off plans for retirement until they are closer to the day they no longer work, but financial experts recommend that the sooner you start, the better. If you’re wondering just why you should be planning your retirement early in life, read on to find out more.
Is there an ideal age to start planning your retirement?
Recent statistics show that most retirees in the UK would advise others to start their retirement planning earlier. It’s common for people to make provisions in their fifties but the later you leave your planning and saving, the less time you’ll have to accumulate wealth and the harder your money will have to work.
Financial planners can assess your current situation and what funds you need in retirement to reach your personal goals, look after your dependents and enjoy an excellent standard of living. The earlier you put a plan in place, the longer you will have to achieve these financial ambitions.
What are the benefits of early retirement planning?
By putting plans in place early, you can enjoy peace of mind that you and your family have sufficient funds when you retire. From compound interest on savings to well selected investments that pay dividends and generate income, financial advisors can ensure that the wealth you have amassed is working harder for you. With expert and effective retirement planning, you may even find that you can stop working far sooner and realise your personal ambitions for the future much earlier.
Are you looking for retirement planning specialists in Shropshire or Chester?
Now that you understand why you should be planning your retirement early in life, you can start taking steps to get prepared. At Hartey Wealth management we can help. For over 25 years, our expert advisors have been helping UK savers make the most of their life after they stop working. Get in touch today to put plans in place for a prosperous retirement.