Figuring out how much you actually need to save for retirement can be difficult enough, without actually having to save the money.
Your financial and lifestyle goals are more than likely going to change over time. You can’t be expected to know exactly what you’ll need in 5 years, let alone 20 or 30. We can all agree, from the events of 2020, that even the safest of predictions can be subject to unexpected outcomes. It appears that this uncertainty is reflected in the minds of savers, according to ‘Schroders 2020 Global Investor Study’.
The study suggests that 41% of investors across the world fear that they will not have enough savings to fund their retirement. Retirement is supposed to be your chance to live the life you’ve always wanted. Your chance to do the things you never could before. In the end, you want to ensure you can live your desired future lifestyle. You don’t want any additional stress. The survey took place while the pandemic was in full swing so that may be a factor itself as to why some respondents feared a savings shortfall.
The last 18 months have been a period of introspection for many, where seeds have been sown for bigger and better retirement plans, in part, down to the cabin fever we have all endured. But how can those plans become a reality without a proper financial plan? Financial plans don’t only protect yourself and your family, a financial plan covers a lot more than just that. It focuses your lifestyle goals and your choices. The main goal is to make sure your money works for you. Without a proper financial plan, the retirement you desire may not quite become a reality. And it’s scary to think about, but it’s even scarier to experience. But you don’t have to! By planning in advance, years ahead, you can secure a higher quality future for yourself.
But why would you ever need a lifestyle planner? Most people are just along for the ride, dealing with whatever comes their way. It’s difficult keeping up with your financial priorities throughout each life stage, but having a financial adviser significantly reduces the stress and pressure. An experienced professional can easily identify your needs and priorities as you go to ensure you always know where you’re at, and what you’re working towards.
Here at PenLife, we adhere to your life goals and circumstances. Working with you to achieve your goals whatever they may be. There are some things you absolutely have to know about retirement, and that’s why we’re hosting a FREE retirement webinar on Thursday 16th December.
To book your place, follow the link below and let your stress-free retirement journey begin.
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