How to plan your finances ahead of retirement
For many savers, retirement can seem like a far-off or even unattainable goal. But to maximise your chances of retiring comfortably, early planning is essential.
Recent research from Canada Life shows that a worrying number of UK adults are not planning for this key milestone, with 45% of over55s saying their retirement plans are not detailed, and 19% saying they have no plans in place at all.
One in ten respondents said they’d never thought about planning for retirement – and didn’t intend to do so. But more than a third (35%) of retirees wished they’d planned for their retirement more thoroughly in advance.
As the cost-of-living crisis puts pressure on day-to-day finances, it’s a difficult time to think about saving for the future. But these challenges make it all the more important to carefully consider your finances and plan for the long term.
Here are some tips on how to plan for retirement.
GUIDE: Retirement Planning Tips