Your Perfect Retirement Plan
After working hard for the majority of your life, you deserve to enjoy a happy retirement. With so much spare time available it’s understandable to see why the older generation feel a new lease of life as the begin to explore untapped opportunities. But do you have the perfect retirement plan in place to fund your lifestyle?
Whether you wish to travel or take up a new hobby, the earlier you think about pensions and savings, the better. We have outlined two ways to fund your new lifestyle.
Perfect Retirement Plan
1. Pensions
Within Northern Ireland, private businesses, by law, now have to provide a pension scheme, if they didn’t already do so. As an employee, if you opt in, you will contribute a small percentage of your salary into the pension pot and your employer will also contribute. Likewise, the public sector will have pension schemes in place which you can contribute to. Either way, pensions are a great way to start your retirement fund, irrespective of how much you currently earn!
In addition to, or alternatively to your employer pension scheme, you can set up your own private pension with the help of a financial advisor. By seeking expert advice, together you can calculate your income against expenses, to devise a retirement plan that best suits your personal needs.
2. Savings
If you would like to buy that shiny new car or go on an all–inclusive holiday to celebrate your retirement, then it’s worthwhile putting extra savings aside. While your pension can help replace your income, savings can provide you with extra security. Allowing you to splurge on loved ones or yourself!
No matter what age you are, it’s never too late to start saving. And it’s never too early.
Financial Foresight
If you’re in need of trusted independent advice feel free to book a free, no obligation retirement planning consultation with our financial advisors today. We’d be happy to help!
