How can I improve my retirement income?
“How can I improve my retirement income?” — I wailed to my financial advisor, once I’d received an estimate of my retirement income. The news wasn’t good…
While I wouldn’t be completely poverty-stricken, relying on the UK state pension isn’t the way to live the dream lifestyle that I’d seen my friends, who retired before me, enjoying.
From discreet — and not so discreet inquiries — I found what they had been doing their retirement planning for years. Since their earliest days working, they’d been quietly saving a portion of their income into a pension pot that grew over the years and was now ready to keep them in a comfortable lifestyle for years to come.
I looked at my derisory pension provisions and it wasn’t a pretty sight.
Planning Retirement Income
My accountant (Mike) didn’t have a lot of sympathy, and to be honest, I couldn’t blame him.
My husband and I were self-employed, and I remember how, not long after we’d appointed him, Mike sat us down in the office one day and told us it was time to start saving for retirement.
Well!
He might as well have told us to start planning for a trip to the moon, for all the intentions we had of retiring.
