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1st July 2020 - Tracey Payne

Can I afford to retire? Let us help you decide.

It’s now over three months since Boris put the country into ‘lockdown’, an unpleasant sounding word sparking a variety of emotions in every one of us, young and old.  For me, the experience was firstly one of  disbelief, followed quickly by uncertainty and a fear of the unknown.  With hindsight, my family has been extremely lucky. We have so far managed to avoid illness and have enjoyed time together, without the stresses and strains of having two working parents and children doing end of year examinations, not to mention the dog! We have been gifted with time to reflect, time to take stock of the fast paced lives we were living and consider adjustments that could make the future more fulfilling. One question that will have crossed some peoples minds during this time is ‘Can I afford to retire?’.

What holds people back?

My role as a financial adviser involves helping clients achieve their lifetime goals and aspirations. Over the years, the main thing that can often hold people back is the uncertainty of knowing whether they have enough money.  A question that comes up is ‘can I afford to retire?’. Understandably, most people find it hard to quantify how much is enough. What they are aware of, however, is the emotional strain of wanting something to change and being held back by the uncertainty that it might not be financially possible.

Being based in Sussex, I am used to seeing people on the ‘hamster wheel of life’, doing their daily commute to London, to earn money for things that make the  job worthwhile. Some can almost do it in their sleep!  During lockdown, however, the station car parks have never looked so empty. I wonder how many commuters, having experienced the last three months of working from home or the freedom of being furloughed, are dreading the day they have to go back to the office?  Rail use could drop by 27%, a poll for transport consultants SYSTRA has found*. 

How we can help you find out if you can afford to retire

Knowing whether you can afford to retire might make all the difference and this is something that we would love to help you explore. As financial advisers, we are experts in this, it’s the bread and butter bit of our work. We spend a great deal of time getting to know you really well so we can create a bespoke plan that delivers on your goals and aspirations. Having gone through our on-boarding process, you will have complete clarity and peace of mind over your financial future.

If you would like to make an informed decision about retirement, please contact us on 01273 407500 to find out more about how we can help you.

*https://www.bbc.co.uk/news/business-52414376

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