Six Steps to Achieving Your Retirement Income

Whether you're heading towards retirement, just about to retire, or already in retirement, you will face crucial decisions about how to organise your income. In this week's show Tony talks you through the six steps you need to take in order to secure your retirement income.

KEY TAKEAWAYS

• When appraising our retirement income needs, we must consider factors such as assets, liabilities, current income and expenditure.
• We must be brave enough to answer the hard questions when it comes to planning. For instance, if we have a partner, are they adequately protected in the event of your death?
• Consider the date of your planned retirement and how old you will be. The earlier you retire, the more income you will need.
• If utilising asset-backed investments do they support your needs? Consider the impact of personal side pensions or investment portfolios carefully, and always take professional advice.

BEST MOMENTS

'The intention is to help you craft the right solutions for your retirement and to support you in getting to the best income position you can achieve'

'Let's begin at the beginning'

'This exercise is like producing a picture of your financial position'

'We need to address some of the bigger unknowns'

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