EARLY RETIREMENT YEARS

Retirement means different things to different people. It might be that you stop working altogether, or you might slow down or scale back, while maintaining a smaller, steady income. This is the perfect time to make sure you are maximising any benefits you may be entitled to so that you can worry less about money and more about how to enjoy your new-found time.

Once you stop working, or slow down, budgeting will play an important role so that you are able to continue living the lifestyle you are used to and achieve the goals you set yourself for retirement. Managing your wealth and making the most of tax-efficient investment opportunities will ensure that you have money available when you need it.

It’s essential during your early retirement years that you have sufficient health protection so that any unexpected health costs don’t start eating into your investments. Life insurance may also be advisable if you wish to protect your retirement income for your spouse.

Your capital is at risk, The value of your investment (and any income from them) can go down as well as up and you may not get back the full amount you invested.