SAVING FOR RETIREMENT
Whether you are 25 or 55 it is never too late or too early to save more for your future.
HOW MUCH DO I NEED TO SAVE FOR RETIREMENT?
SHOULD I USE A PENSION, ISA OR PROPERTY?
HOW DO I KNOW WHEN I CAN AFFORD TO RETIRE?
Working out how much you need is a complex area of planning which is driven by how much you expect your retirement expenditure to be and how much state pension and other savings and income streams your spouse or partner might have.
Much of this answer will come down to your tax position now, your expected tax position in retirement and how much return you expect from investing in any of these assets. A blended approach often works well for seasoned property investors but for the majority of people pensions and ISA's are preferable.
We go through a cashflow forecast to work out if your savings will survive under things various scenarios such as a high inflation environment, a low return environment or under other more complex scenarios like sequencing risk which is where you have very poor returns over the early years of your retirement which can leave you in a position where your investments never have the time to recover to a sustainable position.
Stress testing and reviews can help you work out what the consequences of your decisions might be.