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When Do You Hope To Retire?

Talking about retirement aspirations, a friend of one of our colleagues commented that they had hoped to be retired by now but a second late family had put paid to that dream. Not that they resented their life choice in any way; they loved their family and were really proud of them - simply that a life choice had changed an expected life outcome.

As we go through life we are constantly faced with these life choices, some of which will have more of an effect on our plans and finances than others. But our plans can also be affected by external forces, by government decisions or changes in the marketplace. For example, the World Economic Forum has recently released a report which looks at the potential funding gap faced by the world’s largest countries.

Recommendations include making savings easy for everyone and reviewing normal retirement age in line with life expectancy. This last recommendation according to the WEF could result in the UK retirement age rising to 70 by 2050. Whatever the reason, the fact that retirement expectations are unlikely to remain static throughout a lifetime is one key reason why best advice is to regularly review pension and savings strategies.

If you’re looking for pensions or investment advice, or if your situation has changed and you may therefore need to review your existing investments, contact Beckworth by using one of the links on our website.