During retirement you have the chance to do what you enjoy almost every day. Knowing the type of lifestyle you want to have in retirement should be reflective of the plans you have made and your pension pot. As life expectancy rises, the risk that you might outlive your assets also rises. Sadly many are now finding out that their lifestyle they dreamed of may no longer be affordable. Keeping in mind also that many parents feel that their children are dependent on their future inheritance, and 53% would feel guilty if they didn’t leave an inheritance. Changes to the State Pension and the impact of an increasing life expectancy have had a big effect. But the economic situation over the past decade has left many people on a fixed income feeling the squeeze. Seeking professional financial advice could help you to plan more effectively for your future retirement.
