If you’re starting to dream of retirement it’s likely that one of the first questions you will ask yourself is “Can I afford it?”
For the first time since the 1930s, people in the UK are having to wait beyond their 65th birthday before they can claim their state pension. As the pension age rises, many face growing uncertainty over how to manage increased longevity - so support in making conscious choices on how we want to live becomes ever more important.
Many people retiring now will live for at least another 30 years and how we choose to spend these years will have an impact on whether these years are a blessing or a curse.
The key to happiness and wellbeing in retirement are the same as in earlier life: remain physically active, continue to learn, have a sense of purpose, and build and maintain strong social networks.
Studies have shown that retirement without a plan increases your risk of depression by up to 40 per cent. This is where sound financial advice can help. At Mosaac we are with you every step of the way, helping you to plan for these years to ensure that they are the fulfilment of your dreams and not your nightmares!
To do this we support you to make conscious decisions on the important elements of how you wish to live. Our advisers will work with you to plan out every step of your journey. We will support you in saving for retirement, help you to map out your retirement aspirations and work out how much that will cost. We then add all of this into our software system to produce a plan to help you to see how long your money will last and what steps you can take to budget for that – no matter how extravagant or modest that may be.
We will work with you each year to update your plan as your life changes, giving you the confidence to take the step into retirement in an informed position.
Individuals need professional support to enable them to make the right choices – we only have one shot so it’s important to get it right. This allows financial and other advice to work to maximum effect. By adopting a different approach and placing individual retirement aspirations at the heart of any decision-making process, excitement can be injected into retirement and long-term happiness can become more likely.
The time for individuals to take their futures seriously is now. Its never too early to start planning so contact us now and let us help you to build the picture of your perfect retirement years.