Things like holidays, nice food, and going out at night make life fun and interesting. Having to suddenly cut back on these things due to a change in your financial circumstances can be frustrating and stressful.
This is particularly true in retirement, when you can face a big drop in income unless you've made adequate preparations. According to our recent The Future of Retirement survey, 56% of Britons see retirement as an age of freedom so it's important to ensure that you save and budget enough to do whatever you wish without financial constraints.
Only 40% of households have planned financially for their future. - HSBC The Future of Retirement survey
There are some practical steps you can take now:
- Review your pension arrangements with an expert
- Check how your investments are performing
- Ensure your projected income in retirement will be enough to let you do the things you want
We have professional advisers who'll be happy to assist you and review the provisions you've already made.
Try our Retirement planner. This will give an indication of the amount you should be saving per month, starting from today. It's probably more than you think.
