What better time to look at new beginnings than the new year?
The holiday period is a good time to reflect on the current year and look ahead to the next one. It’s also an excellent time to start thinking about your retirement. Our financial adviser, Luke, talks through everything you need to know if you want to retire in 2021.
What are three things people should think about if they want to retire in 2021?
Don’t just look at your pension, savings and investments, spend some time thinking about what you want to do more of with your time. Think about what it is you want to do and then think if you’ll have enough. Next, think about the reasons why you’re wanting to retire.
Do you want to do more of your hobby or maybe see more of your family?
This is so helpful when you come and see an adviser, and you already know what you need from your pension. Finally, look at what makes you happy. When I ask clients this, it’s often a lightbulb moment
for them. It seems like an easy question, but the answer is really useful for both the client and adviser.
Will COVID-19 impact people who are looking to retire in 2021?
We’ve found people are more eager to retire
because they’ve had a taste of a different
lifestyle during in lockdown or while on furlough.
If you’ve got the money ready in your pension,
then there’s no reason COVID-19 should stop
you from seeing an advisor.
We’re still following strict safety measures in
the office to give clients some peace of mind.
We’re also continuing with virtual meetings,
which have been a big success for us this year.
With the markets seeing a recent boost, we
should focus on the long term rather than it’s
current effect.
When is the best time to speak to an
adviser in 2021?
Really, any time is a great time to start planning,
but the earlier the better. We’re generally rushed
off our feet because people have been with their
family over Christmas and thought ‘I want more
of this, I’ll retire.’
Typically, we’d say you’d need at least two to
three months to go through the process. So, if
you start in January, there’s a good chance you
might be retired by Easter
