Are you prepared for your retirement? Worryingly millions of people won’t even think about their retirement fund until they’re just two years away from retirement age. And when you consider the fact that most retirements last around 20 years, the idea of not investing in your golden years sooner, is utterly terrifying.
Saving for your future has never been more important, while we might be fixated on saving for a rainy day, a holiday or for a house deposit, saving for your retirement years should also be considered a priority. When it comes to retirement, the sooner you start saving, the better. To give you some context let’s take a look at some urgent reasons why you should be thinking about your retirement, now!
Setting up a pension is easier than you think
Think of pensions and retirement and it’s easy to get bogged down with jargon and find yourself with even more unanswered questions than you started with. Thankfully, when it comes to private pensions with Wealthify, you can cut out the verbiage and enjoy a completely transparent pension account. Effortlessly top up your pension and grow your retirement with an instant 25% tax relief addition – all of which is done automatically for you! When choosing a pension account, you must understand what you’re getting and how much you’re really saving, so choosing an account with no hidden fees and full flexibility makes sense. Click the link to find out more.
If you’ve had more than one workplace pension during your working life – the average person has 6 jobs in their lifetime – you could have as many as 6 workplace pensions to keep track of. These pension pots are easy to forget about, which means many individuals hit retirement age without making the most of their pension funds. When you reach your retirement, you may not realise you have more funds than you think! Therefore, consolidating your pensions and putting them all into one pot simply makes sense.
What do you want your retirement to look like?
The image of traditional retirement is dramatically different from how it is perceived today. Once we pictured elderly individuals, sitting on their front porches, watching the world go by as they enjoyed their golden years. These days, retirement is an exciting part of your life that can include anything from travelling the world, to volunteering for a charity, writing books, spending time with family and grandchildren, or even moving overseas. Therefore, ensuring you have the right funds set aside to enjoy your retirement and do all the things you want to do is essential. If you haven’t’ started saving – start now!
You need to think about the unexpected
We all hope that our retirement will be happy and healthy, sadly, that’s not always the case. By planning your retirement carefully and as soon as possible, you can ensure you and your loved ones are covered should you need medical treatment, care or hospitalisation.
If you haven’t started planning your retirement yet, don’t delay. Reach out to Wealthify as soon as possible.