Five Ways to Take Control of Your Retirement Savings

Planning for your retirement is an essential part of life, if you are part of a workplace pension scheme then your salary contributions to your pension savings go relatively unnoticed.

However, not everyone is a part of a workplace pension scheme and as such will need to take a close look at their finances in order to take control of their retirement savings.

1. Analyse your spending habits

The long-term goal is to reach your retirement age debt-free and with some savings in the bank. You may still be paying off your mortgage by that time but making sure that you have no outstanding debts will mean you can enjoy a stress-free retirement.

The easiest way to do this to analyse your spending habits and see if there are any changes you can make or cutbacks that means you can put more into your savings and retirement fund.

2. Plan for your future

At The Stan Lee, we can’t emphasise enough the importance of planning for your future. This can be difficult for some people, but it doesn’t have to be.

Speaking to an experienced financial advisor can make all the difference as they will be able to help you make informed decisions about your future.

They will sit down with you and assess and discuss your current situation and look for areas where their advice will be invaluable.

3. Boost your savings

Another way to take control of your retirement savings is through ISAs or property and investment opportunities. Don’t feel you need to rely solely on your pension contribution in order to make your savings work for you.

There is no reason why you can’t explore other avenues, but before making any major financial decision that will impact your future speak to a professional financial adviser first.

4. Monitor your plans

Even now and then when we get a statement about our pension savings and contributions many people disregard it. But keeping track of your plans and investments means you can be sure of getting the best return as possible.

If for whatever reason your current plan isn’t producing the expected returns, then you have the right to review them and look for a plan that will offer a better return. Again, this is where an expert financial adviser can help.

5. Make the most of your retirement savings

Back in the day, an annuity was a popular choice for securing your retirement income. Nowadays there is a lot more choice for your pensions savings and investments, you don’t have to follow one solution.

There are plenty of options out there for you just need the right financial advice. Whatever you choose to do your retirement should be taken seriously, you only get one so make the most of it.

Contact the experts

If you would like to speak to one of our expert advisers, then get in touch with us here. Alternatively, you can call us 020 3778 0973 or email info@thestanlee.com We can help you get the best out of your retirement planning. We look forward to speaking with you.