PWS Group - Retirement Planning Tips for All Ages

1. PWS Group - Retirement Planning Tips for All Ages The reality for many Britons is that they will not have enough money when it comes to their retirement. The state pension only pays out £144 a week and if you haven't planned for your retirement, then you will find that you will be living a very basic lifestyle, sometimes not being able to pay for basic essentials, such as heating, something you want to avoid when you are meant to be relaxing and enjoying your life. The truth of the matter is that people are living longer. This means you can expect to work for at least forty five years and maybe even up to thirty years of retirement, with a high percentage of people living well into their nineties these days. How you plan for your retirement determines how comfortable your lifestyle will be when it comes to downing tools and taking life a little easier. Planning for Retirement In Your Twenties Ideally you will start planning for retirement when you first start work. The main things to remember at this age is to focus on clearing any of your study loans and save what you can each week or month, no matter what the amount, it will all make a difference in the long run. This is probably your first important job and step towards achieving your career goals. You will be earning a monthly salary and retirement hasn't even crossed your mind. Thinking ahead and planning now gives you the best chances of securing a comfortable retirement in the future. How to Plan in Your Thirties If you didn't start your retirement planning in your twenties, now is the time to start. At this age you want to focus on your monthly expenses, identify any debts and work at paying those off quickly. Identify if you have been added to the company's workplace pension scheme and focus on making some long term investments. In your thirties you start looking closer at your financial, you may be working on buying a home or starting a family and retirement one of the things you should be focusing on. Retirement Planning in Your Forties If you haven't saved up even one Penny for your retirement, now is the time to start. At this age you should be doing well and your income should be peaking. This should give you the ability to put more towards your pension. The good news that if you haven't started saving for retirement, it's not too late, but you don't want to delay it past this age. If your company isn't offering you a pension scheme, then speak to a financial advisor and find the best personal schemes you can join to help you save for your retirement. Is Fifty Too Late to Start Retirement Planning?

2. Obviously the earlier you start planning for retirement the better. In your fifties you should be increasing your contributions wherever you can and any risks you have in terms of investments should be removed to reduce the risk of losing a large percentage of your pension pot. Now is the time to be serious about your retirement planning, you don't have much longer to contribute, so increase wherever you can remembering the money you are putting down now will make life a little easier when you stop working. Are You Ready for Retirement In Your Sixties? You have reached the decade where you are going to retire and how are your savings now? Have you saved enough for your retirement. In your sixties you should be ensuring that all debts are paid and mortgages have been cleared. You will now need to identify whether you want to buy an annuity or make a decision with your financial advisor on the best way forward based on your particular requirements. About Us: PWS Group is an experienced team of independent financial advisors operating from a head office in Dubai. We cater to both private and company clients providing a host of bespoke services that they can rely on and trust. As leading global financial advisors we provide a range of financial, education and product solutions, always ensuring that we offer the best unbiased advice that will ensure our clients enjoy a good return on their investment at all times. We carefully weigh one investment against another, always putting our clients goals and expectations first and working hard behind the scenes to ensure that they achieve those goals and more. To find out more, visit http://pws-intl.com.