Whether retirement is five or twenty-five years away, the thought of giving up work entirely one day can be as simultaneously daunting as it is exciting. There’s plenty you want to see, do and achieve. Nevertheless, your ability to cross the retirement finish line may feel like it hangs on one important question: “Will I be able to live the way I want to live?”.

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There has often been debate about the very word “retirement”. This is perhaps because traditionally, you retired at a certain age, be it at age 65, gave up work, took your works pension or purchased an annuity and took up golf and gardening.

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Nowadays, especially in the current climate, this scenario is becoming less frequent, and people are taking a more phased approach to giving up work altogether. Many are choosing to step down from stressful positions, but go back to work part time. Some are able to draw income from various sources and are generally able to lead an active life into much older age than traditionally.

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Retirement is a journey, not an event. Retirement and the term “financial independence” are often used interchangeably. Both are achieved when you have little or no debt, enough savings and/or pension income to cover your living expenses so that work effectively becomes “optional”.

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Reviewing and monitoring your pension and making sure it still meets your needs can sometimes be overwhelming, especially when you delve into the charges, the benefits available to you and comparing the performance of different funds and many other factors. 

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At Quadrant Financial Associates Ltd we make the complicated simple and our comprehensive review process will give you all the information you need with less of the jargon.