Are you thinking of retiring in 2024? If you want to enjoy your retirement this year, consider these factors if you’re ready to stop working and enjoy some holidays. Before you retire, ensuring you have the funds to cover life after work is critical.
Pension Pot
Pension pots have had some ups and downs in the post-pandemic era, and ensuring your pension is performing well when you retire is essential. Look back at the past few years: has your pension recovered from any prior financial downturn? Can you make your pension pot more stable in 2024?
Quality Of Life
If you retired tomorrow, what would your life look like? Can you do everything you want to do? If another year of work gives you extra money for the holiday fund, consider how much more time you are willing to spend working to achieve your desired retirement.
State Pension
Knowing when your state pension kicks in is essential, even if you have a fully stocked private pension. The further away you are from that state retirement, the longer you’ll need to fund your activities without that additional income.
Seek Advice
If you’re unsure if 2024 is the right retirement age for you, consider seeking advice from a qualified financial advisor. You can often find free advice online, but depending on the size of your pension, you might want to seek advice from a wealth manager.
Are you ready to retire in 2024? Read this infographic for more hints and tips to maximize your retirement.
Infographic designed by: Boomer Benefits
(Disclaimer: This content is a partnered post. This material is provided as news and general information. It should not be construed as an endorsement of any investment service. The opinions expressed are the personal views and experience of the author, and no recommendation is made.)