Posted on: 19th February 2018 in Retirement Planning
Don’t panic about your retirement planning if you haven’t started yet. It may be that you are near the start of your working life and retirement seems like a distant dream, too far in the future to worry about. You may be in your middle-age, with a mortgage and children and daily financial stresses that capitalise your attention and your money, with no space to focus on future goals. Conversely, you may be approaching retirement age and have started worrying whether your retirement fund and financial planning have been adequate. Whatever stage in your life cycle, thinking about your retirement and making provisions for the future can be a task both off-putting and easy to put off. In fact, a recent survey revealed that nearly one third of adults in the UK (15 million people) have no pension savings at all! If you find yourself amongst this sizeable group, the important thing to remember is that it is never too late to do something about it, and exploring all of your options with your financial advisor can help eliminate some of the stress (real and perceived) from these decisions.
The simple answer is as soon as you can. Building up a retirement fund that will allow you to realise your retirement dreams can take a career’s worth of work and planning. However, we at Holborn know from first-hand experience that it is never too late to start. If you are in your 40s and 50s (perhaps at the peak of your earning potential) you still have time to order your finances, lay down your retirement plans, and start accumulating for your golden years. In fact, it may be that you have made more of a start with your pension fund than you realise. Here are 4 steps you can take right now to get your retirement planning on the go.
Whatever your age, and whatever your dreams about the future, you are never too young or too old to plan for your retirement. Contact your IFA today to see how you can benefit from some sound financial planning.
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