How to plan for retirement in your 50s
6 tips to help you retire on your own terms
In your fifties, you might think it’s too late to improve your pension savings before you retire. But you’d be wrong. All it takes is a little planning, and some smart saving.
In this guide you’ll find 6 essential tips to help you retire the way you want. They explain:
- Why you need to think ahead about where you’re going to live
- How you can gradually phase out work and reduce your hours
- Why consolidating your pensions could help you in the long run
- How to make the most of your pension savings
- What options you have for accessing your pension
- How you can make your retirement pot last
This guide is not personal advice. If you’re unsure you should seek advice. The value of investments can fall as well as rise so you could get back less than you invest. Remember, you’re normally unable to access money from your pension until age 55 (rising to 57 from 2028).