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If you have been moved out of a Pension Scheme since the year 2000 you may be entitled to compensation for any financial loss your retirement plans have suffered. This could be hundreds of thousands of pounds. Why wait?
It's a great question, and to be honest - we get asked it a lot - but what can you really expect from retirement? In this special blog post from Paul Steel, we explore excatly what retirement could mean for you - and why it's so imortant to plan effectively for the best possible one!
“Retirement is a 52 week a year holiday!” or so my uncle use to say. In reality it’s much longer than that. With a holiday you have a start date and an end date so you can budget your time and money accordingly. Retirement certainly has an end date but we don’t know when that is and the longer we envisage it is going to be the more challenging it is to allocate our limited resources to it. No matter where in the world you live, or how fortunate you have been in the genetic lottery of evolution the amount of days ahead of you, especially those in good health are incalculable.
We can of course make an educated guess, an average man retiring at age 65 today can expect to live for another 17 years, a woman for almost 20, so by definition you have a 50% chance of passing that average milestone, but how many of those years will be in good health and anyway how many of us are average? If there are two of you the situation becomes doubly complicated, and these are mysteries that apply to us all regardless of circumstance. So if we can’t budget for our time or our health we can certainly have a good go at budgeting for our finances to make sure we get the most out of the rest of our lives, be it 1 year or 40 years, if it was only one year it would be easy of course, but we need to budget for 40, just in case.
Unless you are fabulously wealthy, (and if you are you don’t need to spend time reading this blog, go do something useful like beat the servants) then you have to use your limited financial resources to serve you as best as possible over the longer term and the more limited those resources, the more important it becomes that you make proactive financial decisions.
Don't get caught out - contact us today for a review to see if you could be entitled to more.