Claire Trott, Head of Pensions Strategy at St. James’s Place, and former Pensions Ministers Sir Steve Webb and Baroness Ros Altmann highlight the importance of retirement planning and seeking financial advice.
THE QUICK READ
- 77% of savers don’t know how much they’ll need in retirement, and only 16% can give a figure.1
- As we all continue to live longer and in better health, it’s crucial that you have enough savings for retirement
- A financial adviser can help you to work towards your magic number – what you’re going to need to have a satisfactory lifestyle in retirement.
If you’re approaching retirement, you may be reviewing your assets and contemplating what the future is going to look like. You may be questioning whether your retirement income will be sufficient, or wondering if there’s a better way to maximise your investments.
Or, you might not be planning your retirement at all.
77% of savers don’t know how much they’ll need in retirement, while only 16% of savers can give a figure.1 Generally, we’re all living longer and in better health, meaning it’s crucial that you make sufficient preparations to safeguard your financial future in later life.
Having a plan, which you can adjust along the way, is key. You want to make the right decisions for you, both now and in the future.
But you don’t have to do this alone. A financial adviser can help you to work towards your magic number – what you’re going to need to have a satisfactory lifestyle in retirement.
“Advice is really key in the run-up to retirement, to make a plan and stick to that plan as best you can, ongoing as your circumstances change, and again in retirement,” says Claire Trott, Head of Pensions Strategy at St. James’s Place. “It’s also important to take the right advice, at the right time for each individual”.
In the video below, Trott, Webb and Altmann share their views on the UK pension industry and tips to ensure you have sufficient income in retirement.
If you’d like to learn more about planning your retirement and how we can help, just ask.
1Pensions and Lifetime Savings Association, 2019