Plan well for retirement to get the most out of it, says retirement blogger Doug Hook

Handing over my computer, phone and ID badge before I walked out of the office on my last day was something I’ll never forget. I was on cloud nine with all kinds of emotions swirling around in my overly excited mind.

Getting to that stage didn’t happen by chance. Planning for it from a financial point of view started early in my career and I always made sure I was paying into my occupational pension scheme. Having an independent financial advisor on my side made an incredible difference. Although I had a demanding full-time job before I retired, another good option is to gradually reduce your hours, go part time or take a less stressful job.

An important thread in my retirement is this: I might be retired from my salaried career but I’m definitely not retired from life or being a Christian.

Here are a few general tips.

Know what you’re going to do when you retire – make sure you have good things to look forward to.

Find an independent financial advisor, the sooner you can the better – ideally in your 20s or 30s but it is never too late. Expect to pay a fee for retirement planning but generally it is worth every penny in the long run.

Ask your employer about any flexible retirement schemes which might be available for 55-year-olds. Perhaps you can reduce your hours as a step towards retirement…

Doug Hook retired from his local government job in 2018. He blogs about house refurbishment and his retired life at maturingwell.co.uk

___

This is an extract from an article published in the November 2021 edition of Reform

To read the full article, subscribe to Reform