Craving a better work/life balance? Wanting to spend more time with family and friends? Yearning to get on with that bucket list that you haven’t quite finished or even started?
You are not alone. The pandemic has many of us look at life in a different manner, having been forced off that daily treadmill and now we just don’t want to get back on.
You may now be one of the many actively seeking early retirement options.
The key is to be in a financial position to enjoy this time of your life, while, making sure you don’t outlive your retirement savings. Whilst creating a retirement plan so you don’t run out of money sounds like an obvious choice, it may not be as straightforward as it sounds. For all you cannot know exactly how much money you will spend when you retire, you can know what your lifestyle costs are now to know if you are financially ready to retire.
Equally, with living costs rising and interest rates fluctuating, you may also need to factor in or consider generating additional income, to boost your state and private pensions.
The key imperative is to create a plan and to ask a qualified Financial Adviser to develop a living cash flow model for you, so you can see exactly the impact of income vs expenditure, where the income gaps are and put an action plan in place together.
Here at Ellis Bates, we will discuss the best ways to bring your early retirement plans to life. We want you to be able to enjoy the things in life that mean the most to you and your family.
So, we are ready when you are, to listen to you and help you plan.