Your future in pounds and pence
How often do you think about retirement? Perhaps never, maybe it’s something you consider every now and then or you could be retired right now! When you do think about it, what does it look like? Sun, sea, travel, adventure? Sounds likes a dream come true to us – but how much does it really cost to live your ideal life in retirement?
Of course, it depends what you do with your years once work is a thing of the past, but let’s take something simple to demonstrate – Sky TV.
They’ve got a January sale on at the moment and their mid-range package is priced at £60 per month. Now, let’s assume you plan on retiring at 60 and (fingers crossed) you live for another 30 years or potentially more!
To have Sky TV for those 30 years of retirement it will cost you £21,600*– that’s assuming they don’t put the price up (which let’s be honest they will!).
When you sit and look at the numbers in this context it can seem quite daunting – whether you want to make you retirement count by sitting on the sofa or travelling the world – we hope this example demonstrates how much money you might need to make your dreams a reality.
This is something we talk to clients about all the time – achieving your ideal life is the foundation of what we work with you to achieve. It’s important to know not only what you want to do but how you’re going to make that a reality.
So, nearly 1 month down in 2020! Could this be the year to set the wheels in motion on your retirement planning?
Get in touch with us if you’d love to get your plan on paper this year!
*calculation based on £60 per month for 30 years