WANT TO RETIRE EARLY? FINANCIAL PLANNING COULD MAKE IT A REALITY

Retiring early is an aspiration for many workers looking forward to greater freedom. If early retirement is something you’re dreaming about, a survey suggests financial planning could help you turn it into a reality.

A Standard Life study found, on average, people receiving financial advice plan to retire at 66 –three years earlier than those that aren’t seeking professional guidance.

The survey also suggests that those working with a financial planner are more confident about their finances in retirement. Advised workers believe their pension and other assets can fund their lifestyle for 23 years. Among those not taking advice, this falls to 17 years.

A financial plan could boost your wellbeing in retirement too.

A huge 96% of people who said they did a “great deal” of financial planning before retiring say they are enjoying the next chapter of their life. In comparison, 72% of people who didn’t do any financial planning said the same.

3 Amazing Reasons Why Financial Planning Could Help You Retire Early

1. It can help you create a long-term plan: Often, you’ll be saving for retirement over decades. The long time frame can make it difficult to understand if you’re doing enough to retire when you want.

As well as calculating if you’re contributing enough to your pension, you may need to consider how investment returns will affect its value, or how you could use other assets to create an income. A financial plan can pull together all these different aspects.

2. It can highlight ways to get the most out of your money: The funds you need to build to create a sustainable income for retirement can be daunting, especially if you hope to retire sooner than average.

One of the ways a financial plan can add value is by highlighting how to get the most out of your money.

3. It can give you the confidence to take the next step: Retiring early successfully isn’t just about ensuring you have your finances in order – you need to prepare mentally too.

It can be more difficult than you expect to give up work. A retirement plan that’s been tailored to you can give you the confidence to take the plunge and retire when you’re ready.

Please contact us on 01273 774855 or email shoreham@pembrokefs.co.uk if you would like more information and quote reference PFSIS.