{"id":5867,"date":"2022-05-13T15:11:44","date_gmt":"2022-05-13T14:11:44","guid":{"rendered":"https:\/\/new.contentdeployment.co.uk\/tomd\/?p=5867"},"modified":"2022-05-13T15:11:47","modified_gmt":"2022-05-13T14:11:47","slug":"financial-freedom-in-retirement","status":"publish","type":"post","link":"https:\/\/new.contentdeployment.co.uk\/tomd\/2022\/05\/13\/financial-freedom-in-retirement\/","title":{"rendered":"Financial freedom in retirement"},"content":{"rendered":"
\n

When are you thinking of retiring? With\nmany pre-retirees reassessing their lives and priorities in the wake of the\npandemic, there really is a seismic shift for many people towards achieving\nlife balance. People need a plan to flex with their changing aspirations \u2013 it\u2019s\nbecome more about living life rather than going through the motions of the\ndaily grind.<\/strong><\/p>\n<\/div>\n\n

\n

With earlier retirement a serious consideration for many seeking\nbalance, a quarter of Brits who aspire to retire early feel that age 60 is the\noptimum time to do so1<\/sup>.<\/p>\n<\/div>\n\n

\n

Positive steps to a new lifestyle <\/strong><\/p>\n<\/div>\n\n

\n

What really makes you happy? If you\u2019re planning to celebrate your 60th\nbirthday by saying \u2018goodbye\u2019 to working life, it\u2019s good to know that 68% of\npeople report an increase in overall happiness as a result of retiring early,\nwith 44% of early retirees reporting their family relationships improved and\n34% citing improvements in their friendships. From a health perspective, 57% of\nearly retiree respondents report a boost to their mental wellbeing, with 50%\nbelieving their physical wellbeing has improved.<\/p>\n<\/div>\n\n

\n

In the driving seat<\/strong><\/p>\n<\/div>\n\n

\n

Nearly a third (32%) of people who retired early or plan to do so are\ndriven by the desire \u2018to enjoy more\nfreedom while still being physically fit and well enough to enjoy it.\u2019<\/em><\/p>\n<\/div>\n\n

\n

Other factors driving people to pursue early retirement include\nfinancial security (26%), reassessing priorities and what\u2019s important to them\nin life (23%), wishing to spend more time with family (20%) and finding they\nare either \u2018tired or bored\u2019 of working (19%). Stress is also a contributing\nfactor that 19% of respondents are keen to eradicate.<\/p>\n<\/div>\n\n

\n

Time to reflect<\/strong><\/p>\n<\/div>\n\n

\n

With a sizable 24% of people returning to work after retiring because\nthey experience financial issues, careful planning is essential. Interestingly,\n47% of retirees found that their finances worsened and only 22% felt they\nbenefited financially from their decision to retire early.<\/p>\n<\/div>\n\n

\n

Your plan<\/strong><\/p>\n<\/div>\n\n

\n

People cited steps toward making early retirement achievable like\npaying off a mortgage (30%), saving little and often (29%), saving extra when\nthey receive a pay rise or bonus (19%) and receiving an inheritance (14%).<\/p>\n<\/div>\n\n

\n

We\u2019re here to reassure you that happiness doesn\u2019t need to come at a\ncost when retiring early. Although it\u2019s very important to be realistic, with\nmeticulous planning and careful consideration, we can assess and develop a\nrobust plan to align and flex with your changing requirements and priorities.<\/p>\n<\/div>\n\n

\n

1<\/sup>Aviva, Dec 2021<\/p>\n<\/div>\n\n

\n

The value of investments and income from them may go down. You may not\nget back the original amount invested. A pension is a long-term investment. The\nfund value may fluctuate and can go down. Your eventual income may depend on\nthe size of the fund at retirement, future interest rates and tax legislation.<\/strong><\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"

When are you thinking of retiring? With many pre-retirees reassessing their lives and priorities in the wake of the pandemic, there really is a seismic shift for many people towards achieving life balance. People need a plan to flex with their changing aspirations \u2013 it\u2019s become more about living life rather than going through the […]<\/p>\n","protected":false},"author":12,"featured_media":5862,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[32,89,88,90],"tags":[],"hd_content_source":[],"_links":{"self":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts\/5867"}],"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=5867"}],"version-history":[{"count":3,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts\/5867\/revisions"}],"predecessor-version":[{"id":5870,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/posts\/5867\/revisions\/5870"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/media\/5862"}],"wp:attachment":[{"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/media?parent=5867"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/categories?post=5867"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/tags?post=5867"},{"taxonomy":"hd_content_source","embeddable":true,"href":"https:\/\/new.contentdeployment.co.uk\/tomd\/wp-json\/wp\/v2\/hd_content_source?post=5867"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}