How Long Will My Pension Last-diqua

Personal-Finance Anyone retiring, or being retired, will initially worry about what their retirement in.e will be. Generally people require more in.e at the outset as most people spend more money earlier in their retirement and less money later in their retirement. This of course could be different if you required care later in life. On the basis though that most people are still very busy in retirement. When people are busy it usually means that they are also needing to spend money on one thing or another. It could be that you need your pension lump sum to pay down a mortgage or loan or you may even need the in.e to continue to fund the mortgage. One option is to think about how you draw down your pension in.e it may be that you want to buy an annuity all at once. It maybe that you do not need all the in.e from day one, if for example you are reducing your hours at work. Phasing your retirement can be a good option to make your pension in.e last longer. You need to think about the amount of in.e that you need to pay off any debts and the in.e that you are likely to need in the early years of retirement. Once you have had an opportunity to think about this (and the best way is always to write down on a list what your bills will be) then it makes sense to talk to somebody about what in.e you could expect to get from your pension fund. The author of this article is John Kelly. The author is a partner at Square One Financial Planning LLP. As well as being a diploma qualified finance planner, he is also a chartered accountant, one of a handful of such dual-qualified individuals in UK. About the Author: 相关的主题文章: