How to budget for your retirement
Paying attention to what you are spending and when very important when approaching retirement. Financial journalist Paul Lewis explains why in this video.
Budgeting for retirement:
Things to bear in mind when preparing a budget:
Regular income
- Where is your income coming from?
- Salary or wages
- Investments
- Pensions
- Benefits
Regular outgoings
What things do you spend on every month?
- Rent or Mortgage
- Bills
- Food shopping
- Travel
- Insurance
- Council tax
The little things that add up
These things may not be essential, but little bits here and there add up. It is worth including these to see if you might be spending on one too many Saturday night takeaways, or perhaps that morning coffee is superfluous.
- Clothes
- Takeaway food
- Treats
- Coffee
HOW WE CAN HELP
Reader’s Digest have partnered with pension and investment experts Flying Colours to provide you with the advice you need to identify which option is best for you. Call our pension experts on 0333 241 9919 or click here to visit our dedicated website to help you decide which path suits you best, so you are then able to access the appropriate advice.
Related Content
Clearing up pension confusion
The value of advice
Are you missing a pension boost?
Are you getting the pension you deserve?