{"id":26448,"date":"2024-10-08T11:29:44","date_gmt":"2024-10-08T10:29:44","guid":{"rendered":"https:\/\/new.contentdeployment.co.uk\/tomd\/2024\/10\/08\/autumn-retirement-round-up\/"},"modified":"2024-10-09T09:51:44","modified_gmt":"2024-10-09T08:51:44","slug":"autumn-retirement-round-up","status":"publish","type":"post","link":"https:\/\/new.contentdeployment.co.uk\/tomd\/2024\/10\/08\/autumn-retirement-round-up\/","title":{"rendered":"Autumn retirement round-up"},"content":{"rendered":"
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Several retirement reports have hit the headlines recently with a consistent message: if you want a comfortable retirement, you should plan early and be flexible.<\/strong> <\/p>\n<\/div>\n\n

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Could a phased retirement approach work for you?<\/strong> <\/p>\n<\/div>\n\n

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Research from Standard Life1<\/sup> suggests a \u2018gradual transition\u2019 into retirement could be one of the best ways to boost your pension pot. It suggests that continuing to work part-time or taking on freelance projects can help to maintain a steady income stream as your pension continues to grow. In fact, the company\u2019s analysis demonstrates that working three days a week from age 66 to 70 could add an extra \u00a397,000 to a pension pot. This approach also means the opportunity to explore new interests or volunteer work before fully committing to retirement. <\/p>\n<\/div>\n\n

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More Britons facing a retirement shortfall <\/strong> <\/p>\n<\/div>\n\n

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Unfortunately, the retirement picture isn\u2019t entirely rosy. According to Scottish Widows\u2019 annual retirement report2<\/sup>, a significant portion of the population (38%, up from 35% last year) are not saving enough for a comfortable retirement. <\/p>\n<\/div>\n\n

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The report also found 54% of UK retirees expect to work an extra seven years on average, while 27% who have made retirement plans don\u2019t feel they will ever be able to afford them. This shortfall is being worsened by rising living costs and stagnant wage growth. <\/p>\n<\/div>\n\n

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Flexibility is key<\/strong> <\/p>\n<\/div>\n\n

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One recurring theme in most retirement research is the need for flexibility. Having options in how you access and manage your pension can be crucial. Whether it\u2019s phasing your retirement or adjusting your income based on the prevailing market conditions, being flexible in your approach and income needs could help you adapt to life\u2019s uncertainties. <\/p>\n<\/div>\n\n

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Don\u2019t leave retirement planning too late <\/strong> <\/p>\n<\/div>\n\n

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While it\u2019s concerning to hear of people having retirement regrets, it\u2019s important not to ignore the issue and instead do something about it when you can. As we enter autumn, now might be the ideal time to refresh your retirement plan and make sure you feel on track and well-prepared for the years ahead. Retirement is a time to thrive, not count the pennies. <\/p>\n<\/div>\n\n

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1<\/sup>Standard Life, 2024 <\/p>\n<\/div>\n\n

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2<\/sup>Scottish Widows, 2024 <\/p>\n<\/div>\n\n

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The value of investments can go down as well as up and you may not get back the full amount you invested. The past is not a guide to future performance and past performance may not necessarily be repeated.<\/strong> <\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"

Several retirement reports have hit the headlines recently with a consistent message: if you want a comfortable retirement, you should plan early and be flexible.  Could a phased retirement approach work for you?  Research from Standard Life1 suggests a \u2018gradual transition\u2019 into retirement could be one of the best ways to boost your pension pot. […]<\/p>\n","protected":false},"author":12,"featured_media":26452,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[32,89,88],"tags":[],"hd_content_source":[116],"_links":{"self":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts\/26448"}],"collection":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/comments?post=26448"}],"version-history":[{"count":2,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts\/26448\/revisions"}],"predecessor-version":[{"id":26454,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts\/26448\/revisions\/26454"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/media\/26452"}],"wp:attachment":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/media?parent=26448"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/categories?post=26448"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/tags?post=26448"},{"taxonomy":"hd_content_source","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/hd_content_source?post=26448"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}