Nothing in life is certain and certainly not our pensions after the recent banking crisis. We used to be able to look forward to the best annuity rates and a decent standard of living after the age of sixty five, but this is sadly no longer the case, so it pays to plan ahead to make sure that we are comfortable in our old age.
Despite regular contributions in the pension pot many of us are faced today with the fact that they are worth less than we put into them and we would have been better off stashing the money under the bed.
Worse still, some people are still tied into regular contributions for quite a few years which they know is going to bring them little gain.
Talk with a financial advisor that you can trust and start planning ahead for your retirement based on the current economic situation. You will not be able to work miracles, especially if you are almost reaching the age of sixty five, but some prudent moves now might avoid you having to work past seventy or even older.
Any moves, however small, will help you to be more comfortable in your retirement so that you can put your feet up after all these years of hard work without having to worry where the money is coming from.
