Retirement Planning.

Retirement Planning involves more than just selecting a pension plan, and deciding which pension provider best meets your requirements.

As people live longer, and the retirement age becomes more flexible, it becomes more important to have a “retirement plan”. This is to ensure that sufficient assets are available as a means of providing a secure and regular income, when your earning power reduces or ceases, either voluntarily or otherwise.

Planning for retirement does not start at the point that you decide to retire. Ideally, you will have started to plan many years before, and taken the appropriate steps such that the move from full time work to a non working environment is as smooth as possible.

Retirement planning may include the following steps:

• Identifying your retirement goals.
• Considering how the goals can be achieved.
• Selecting an appropriate retirement plan provider, where relevant.
• Deciding on an appropriate investment strategy.
• Regularly reviewing all of the above, and making amendment as appropriate.

It is always important to have a clear plan as to how your goals are going to be met, and the longer the period time that you have to meet such goals, the greater the likelihood that you will succeed.