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Retirement income warning

What is people’s biggest fear when it comes to retirement?

60% of “baby boomers” are more worried about running out of money than dying! The new pension freedoms mean that buying a guaranteed income is becoming less popular. Consequently, increasing numbers of retirees are at the mercy of the markets – raising anxiety that they might not have enough to see them through, or that they might suffer large and unrecoverable losses.

The important thing is to be realistic when saving for retirement – you can’t save next to nothing and expect to retire on a tidy sum, that’s just not how it works. Think about what you want your retirement to look like, work out how much you will need to achieve it and get saving towards that goal.

Remember, in retirement you’re supposed to spend your pensions and savings! So, make sure you have enough to be able to enjoy it, rather than worry about it running out. Leave yourself sufficient time to make sure you get the retirement you want and deserve.

If you are already in retirement, you must make sure your funds are protected. We develop our investment strategy for protection as well as growth, especially in later life and throughout retirement, when risk is reduced considerably. Retirement is usually the time to step away from focusing on growing your savings as much as possible – that should have already been achieved. The focus now should be on protection and enjoyment!

If you already invest with us, then you are likely on the right track. If this is something you are worried about, or think you might need help with, then let us know. We want to make sure that everyone gets the retirement they have worked so hard for.