Retirement planning involves the consideration of a number of factors, including at what age you hope to retire, how much money you will need to cover living expenses coupled with the things you plan to do once you've retired, and where your money will come from. Generally speaking, retirement planning is planning your finances for the period of life after you stop working.
Retirement might still seem like a lifetime away for some and starting a pension may be the last thing on your mind. But when you consider that you could be spending more than 30 years in retirement, it is more important than ever to make plans to save into a pension, as well as keeping a close eye on how much you're saving, what investments you are choosing and what level of income in retirement you will get.
At Merchants Wealth Management Limited we are here to help you start your first pension or for those who have already accumulated pension funds we are here to help ensure they are in the correct place and invested in the correct way.
Note: A pension is a long term investment. The fund value may fluctuate and can go down. Your eventual income may depend upon the size of the fund at retirement, future interest rates and tax legislation.