Living for the moment has a lot to recommend it, but saving for the future does too.

 

It’s all about getting the right balance.

 

However, where the balance lies can be a moving target, and there can never be any certainty, but important areas to think about when it comes to saving for retirement are:

 

• Current stage of life.

• When do I want to stop working?

• What will retirement look like for me? Will I want to go on holiday once, twice or three times a year?

• How much money will I need to of saved to achieve my goals?

• How much income can I get in retirement?

• Am I on track or do I need to save more into my pensions?

• Are my existing pensions working hard for me and reflect my timeframe for retiring?

 

Since no one can be sure of the answer to any of the above, no one really knows how much they should put aside to make sure they can retire when they want to and with the amount they want.

 

However, with reasonable assumptions we can estimate this and then keep these under review as conditions change over time. And we try to err on the side of caution, since winding up with too much in retirement is unlikely to cause the same problems as winding up with too little.

 

You should also make sure that whatever you are choosing to save towards your retirement, it is invested wisely, and:

 

• Properly reflects your time frame for when you want to retire.

• Has the potential to combat inflation as well as achieve capital growth before retirement and income generation after that.

• Is enough to have a realistic chance of producing what you need.

• Your investments are regularly reviewed to reflect changing economic and investment market conditions.

• Is in a pension plan which gives good value for money based on your own set of priorities.

 

All this we can help you with, giving you peace of mind that your retirement savings are being properly monitored and are sensibly structured.