Published on August 2nd, 2012 | by Samantha Whittington

Can you afford your retirement?

As healthcare and living standards improve, so does our longevity. A male aged 65 is now expected to live to almost 83^† and a female even longer. This, along with the attraction of early retirement, means some of us could be looking forward to a happy retirement lasting perhaps more than 30 years.

At the same time, however, birth rates have been falling. Fewer couples are having children – and those who do are having fewer and leaving it later^†. As a result, a thriving workforce that was once more than able to support our elder population is becoming far less able to do so.

So, whilst we may be looking forward to long and carefree days, finally free of the rat race, the question needs to be asked – is our pension provision good enough to pay for it?

The first step towards getting on track is to understand where you are now. How many companies have you worked for and how many offered pension plans? How many plans have you taken out yourself? What other provision do you have – eg: savings accounts, investment plans, perhaps a second house or even your own business.

Then you need to take charge. Your pension fund could end up as one of the largest assets you have, but how much is it actually going to pay you? £10,000 might buy you a one-off luxury trip round the world, but it is not so impressive if you need to plan many years of holidays.

Our pension review service could help you get on track for your retirement. [Using the latest software] we take a comprehensive look at what provision you have, where that provision is going to place you, consider how this fits with where you want to be – and then, if appropriate, suggest the best options to make up any shortfall.

Samantha Whittington
Independent Financial Adviser- Cert PFS

Phone: 01892 853214
Email: samantha@wisefinancialmanagement.co.uk
Web: www.wisefinancialmanagement.co.uk