Top tips for a better retirement
Reframe how you think about retirement: It’s easy to put off planning your retirement, so reframing how you view it is important. Think of it as a chance to pursue your passions and have new adventures. Make sure you make the most of it by planning ahead.
Visualise the retirement you want: Think about the kind of retired life you want. Do you want to go travelling, move home, take up a new hobby or even start a new business? Having a broad idea of how you’d like your life in retirement look like will allow you to plan for it more effectively.
Ask the experts: Nobody expects you to be an expert in saving and investments, so use free online advice or seek professional financial advice to help you plan and cost out your retirement plans. This will help you decide on the right approach. Don’t be afraid to ask questions — get clarity before making decisions.
From managing to planning: Managing your finances is not enough — you need to plan where you can save money and how much. Use online tools such as savings calculators and budgeting apps to help to identify the changes you can make today to cut costs and then direct the savings to your future. Start an honest conversation: If you are anticipating support from your family or children during your retirement, start a conversation with them ahead of time. An upfront discussion on what kind of help might be needed and when, can help to manage expectations and ensure your retirement goes smoothly.