Retirement planning involves making complex decisions in the face of continual uncertainty. We find it incredibly hard to admit we’re on the wrong track and change direction. When we make a decision and things don’t work out as planned we
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Pension Goals: What Should They Be?
Financial advisers advocate a variety of pension goals. Some simply suggest trying to save a specific percentage of salary into a pension plan. Others target a total saved pension amount to aim for, in order to be ready for retirement.
Read moreRecession Fears And Retirement
Are you worried about a recession or a market downturn? Might one ruin your retirement plans? In fact nobody can predict market movements with accuracy. The best we’ve got is history. And history tells us that market timing is a
Read moreNever Touch The Principal?
For most people retirement planning is about not running out of money. My mother believed that investments should be kept not spent. In other words she believed in the maxim “Never touch the principal”. The idea was that you should
Read moreThe Retirement Glide Path
Using a glide path is standard practice in retirement planning. The basic idea is simple. When you’re a long way off from retirement you should be heavily invested in risky assets with high returns. As you approach retirement you should
Read moreThe Five Worst Retirement Planning Mistakes
Retirement is something most of us look forward to. But if we think about retirement planning at all, we may be afraid we’ll make mistakes. Looking forward to retirement isn’t the same as planning for it. The younger we are
Read moreMake Your State Pension Go Further
For those currently retiring the state pension stands at £168.60 per week, or £8,767.20 per year. Most would agree that this is not nearly enough to live on. Someone on minimum wage working a 40-hour week earns over £17,000. In
Read moreThe Budget According To Charles Dickens
Mr Micawber said this about making a budget in Charles Dickens’s book David Copperfield: Annual income twenty pounds, annual expenditure nineteen nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds ought and six, result misery. For
Read moreSequence-Of-Returns: Risk And Opportunity
Sooner or later during retirement planning you’ll hear about the dreaded sequence-of-returns risk. In an ideal world your investments would generate large returns with zero risk. But in the real world there’s always a trade-off between high returns with high
Read moreThe Retirement Planning Triangle
A planning triangle may be familiar to anyone involved in managing or delivering projects. The three sides of the triangle represent the key aspects of a project: time, scope and cost. You can improve any two aspects, but at the
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