The coronavirus outbreak has created a time of uncertainty and worry for us all. First and foremost in all our minds will be our health. But many of us will equally be concerned about our personal finances. Will we lose
It used to be that almost everyone with a private pension fund bought annuities when they retired. But Pension Freedoms have changed that. Now nobody is forced into buying an annuity with their pension savings. Instead, drawdown has become far
For many of us, retirement planning seems too far off to start worrying about. Or maybe it seems so imminent that we panic. Leaving retirement planning till just before we retire is asking for trouble. Every decade of our adult
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
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.
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
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
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