Are you ready to spend your golden years in comfort, style, and maybe even a bit of luxury? As a retiree, you’ll want to be able to live in a place where the lifestyle and cost of living matches your financial situation.
Preparing for retirement is like getting ready for a journey, it never goes quite as planned. But the better the plan, the better the outcome. When things go wrong, you want to have the flexibility to adapt to changing circumstances. You never know what retirement will be like until you get there.
The only constant in life is change, which is why individual financial life planning should not be a one-off exercise. Reviewing your finances regularly is essential if you want to stay on track to meet your financial goals. Making sure your finances are in the best possible shape will also make sure you stay on course to achieving everything you want.
Staying invested and giving your money the greatest chance to grow
Perhaps the most common investment advice is to stay invested. But with markets being so volatile, the ease of sticking to that advice has been sorely tested in 2020. Even though we’ve seen global markets bounce sharply from their March lows, understandably there will still be those investing for retirement who remain worried and wonder what the best approach is for the remainder of the year and beyond.
Maximising investment returns over a longer life expectancy
There are lots of variables in retirement. How long people will live for, the costs of goods and services they will need, interest rates available on their accumulated savings, and so on. But once you have retired, investing is anything but straightforward.