How much?
A goal without a plan is just a wish.
How much is enough? When people first contact us, it’s usually to sort out their pensions. But their real issue is their income in retirement. They need to know the cost of their retirement and what they want it to look like. They need our help to find out how much.
Many people put money into their pension without knowing if it’s enough. They end up with what we call an accidental pension. Their retirement income is just a result of their contributions, the time invested, and the investment risk. They never check if it’s the right plan for their dream retirement.
We see many people working longer than needed because they don’t know how much is enough. Working past retirement age isn’t always bad, and research shows it’s often good. But many continue working when they don’t want to, thinking they need more money before retiring.
But they don’t know when they can stop doing what they don’t like and start doing what they enjoy. Have you ever seen a gravestone that says, “They wish they’d spent more time at work?”.
Knowing how much is enough answers important financial planning questions:
- When can you retire?
- How much do you need in pensions to retire comfortably?
- How much should you save now to retire comfortably?
- What other options can improve your retirement income?
- How much risk should you take with your pensions and investments?
By analysing your assets and liabilities and modelling your income and expenses now and in retirement, we can estimate the answer to the big question: How much?
If you don’t know how much is enough, you’re not alone. How confident are you about your financial planning for retirement? Measure it in less than two minutes using our free scorecard.
Click the link below to find out your financial planning percentage. It’s free, and you don’t need to share any personal details to get your score. But if you want, you can share your score with us to see how we can help with your financial planning.
