It does not matter how old you are; at some point in your life, you will have to begin contemplating the way in which your life will be when it is time for you to retire from your job, as well as the years that will follow. In spite of the fact that everyone’s circumstances are unique, it is beneficial to have at least some type of a plan in place, regardless of whether you want to live a life of luxury or are willing to just live a modest existence in your later years. Please take into consideration the following three factors. Take note of the most valuable asset you own. Contrary to popular belief, your health is the most significant and valuable thing you own. It is not even your home or your vehicle. There is no amount of money or material goods that can compensate for poor health, and if you do not take care of your body, it will not serve you well in your retirement years. you should be making a lifetime commitment to your health, whatever your age, since disregarding it will cost you dearly — not just in medical bills, but also the physical lifestyle you’ll be able to sustain. You should join that gym, go for that walk, make healthy food choices, and make sure that you get regular dental and medical checkups. In a word, you should simply appreciate your body for the marvelous machine that it is and never take your excellent health for granted. When it comes down to it, your health is your wealth! putting your pension plans in order Although phrases like pension drawdown, annuity and tax definitely don’t flow off the tongue with the greatest of joy, establishing financial arrangements for how you’re going to subsist when you get to the end of your working life is crucial. don’t be tempted to place structuring and administering your pension plans in the ‘too hard basket’, and even if you fear you may have left things too late, take solace in the knowledge that it’s never too late to improve on what you’ve got. If you want the finest guidance, you should work with a reputable independent financial adviser who will be able to guide you through the process of establishing a pension and developing your wealth in the most effective way for your specific circumstances. They will be able to ensure that you remain compliant with regard to your taxes, and they will provide you with expert advice that is tailored to your specific needs in order to provide you with the best possible life after you leave the workforce. They may, for example, suggest that you draw down from your pension or purchase an annuity in order to provide you with income. remember, just because you’ve never heard of a pension drawdown so far, it doesn’t mean it can’t be in your future! ponder about life beyond work amid the hustle and bustle of our busy lives it’s all too easy to become mired down in tension as we concentrate on work, work, work. of course, in most circumstances it’s very crucial to put in the hard yards in order to make the big dollars so you can genuinely prepare for that nice retirement, but it’s just as important to remember what really counts in life. if you make a commitment to maintain a realistic and satisfying life/work balance, everyone (not just you) will enjoy the advantages. Invest in quality time with your family, go out into nature as often as you can, and give back to your community on whatever scale you feel comfortable with – whether it’s volunteering or financial assistance. live a balanced life when most people think about retirement planning, they think of the financial components, yet it’s also incredibly essential to address your physical, emotional and spiritual requirements after you leave the employment. it’s all about the balance… author plate claire novakovic is the go-to specialist for people who require help on pension drawdown and other related matters. being a chartered financial adviser, she also possesses the required fca approvals to handle pension transfer transactions including defined benefit plans. accudo investments provides complete independent financial advice customized to each individual’s requirements, employing effective portfolio management and tax methods to suit the demands indicated.

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