82: Retirement Planning in Your 50s & 60s: Can You Afford to Retire?
Retire Well with Wealth of AdviceShow Notes
Are you approaching retirement and wondering "Can I afford to retire?" In this episode of Retire Well, chartered financial planners Matthew and Joe explore the key retirement planning decisions facing people in their 50s and early 60s.
Whether you're thinking about retiring at 55, 60 or 65, this episode covers how to assess your retirement readiness, make the most of your pension, and avoid common retirement mistakes.
Topics covered: How much money do you need to retire? Retirement planning in your 50s Pension consolidation before retirement Cash flow modelling and retirement income planning Tax-free cash: when should you take it? Pension drawdown vs annuities Investment risk approaching retirement How to avoid running out of money in retirement Retirement lifestyle and life after work Gifting money to children and retirement planning Inheritance and legacy considerations Common pension mistakes to avoid
We also discuss a real-world retirement case study involving a couple aged 58 with £900,000 in pensions and £120,000 in ISAs, exploring whether they can retire and how best to structure their income.
If you're searching for guidance on retirement planning UK, pension drawdown, retirement income, how much pension you need to retire, or when to retire, this episode is packed with practical insights.
📩 Have a question for the podcast? Email us at: [email protected]
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CHAPTERS 00:00 - Introduction 02:48 - Pre-Retirement Planning 08:25 - Your Investments Pre-Retirement 13:10 - Using Your Pensions For Income 20:51 - Longevity and Estate Planning 25:00 - Psychology of Retiring 27:57 - Case Study: Planning at 58 Years Old
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TALK TO US Call us: 0191 384 1008 Email us: [email protected] Website: www.retirewellpodcast.co.uk
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Wealth of Advice are authorised and regulated by the Financial Conduct Authority, reference number 563909. Past performance is no guide to future returns. Your investments can go down as well as up, so you may get back less than you originally invested. This video is for educational purposes only and is not personal financial advice.
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