One of the retirement challenges many people face is how to handle wealth decumulation. During your working life, you’re typically working to increase your wealth, and this usually shifts as you enter retirement. So, if you’re retired or are nearing the milestone, read on to find out more about decumulation dilemmas and how you might manage them. Changing your mindset may be the first decumulation dilemma You might expect retirement challenges to focus on your money. Yet, one

While financial challenges often come up when those nearing retirement are asked about their concerns, emotional obstacles could be just as important. A financial plan might include looking at areas like your pensions and investments, but it could help you emotionally prepare for retirement as well. Here are five ways a financial plan could improve your wellbeing and confidence when you retire. 1. Financial confidence could ease concerns when you retire One of the key concern

If you’re working and contributing to your pension, you might think you don’t need to do any more retirement planning just yet. However, seeking retirement advice in your 30s and 40s could mean you’re in a better position when you’re ready to give up work. According to a survey published in IFA Magazine, putting off retirement planning is something many workers are guilty of. Indeed, it found that just 5% of Brits aged between 35 and 44 had taken financial advice to help them

When you received your last promotion or pay rise, your first instinct might have been to celebrate by splashing out on a new gadget, booking a holiday or allocating more of your money to your disposable income. However, if you overlook reviewing your finances, “lifestyle creep” could affect your ability to reach long-term goals, including your retirement plans. Lifestyle creep leads to your regular expenses rising Lifestyle creep refers to your regular expenses rising in lin

The State Pension is often a useful foundation when you’re creating an income in retirement. Yet, a survey from Just Group found that a third of people didn’t check their State Pension forecast before stopping work. While the State Pension might not be your primary income in retirement, it’s often valuable because it’s reliable – you’ll receive a regular income when you reach State Pension Age for the rest of your life. In addition, under the triple lock, the State Pension al

More people in England and Wales are celebrating their 100th birthday. It could have implications for your financial plan and creating an income in retirement. According to a release from the Office for National Statistics (ONS), on Census Day in 2021, there were 13,924 centenarians living in England and Wales. The oldest person to complete the census was 112. While centenarians represent just 0.02% of the total population, the number of people celebrating the milestone is gr