Pensions – How much should I save?

It’s one of the most common questions people ask – and the answer depends on your circumstances. Your current age, your salary, and your planned retirement age, along with other factors, will help determine how much you should save each month.

Retirement brings a big change in lifestyle. Your commuting and electricity bills could fall significantly, but your health expenses may increase. You may eat out less often, but you may wish to travel more frequently. How you wish to spend your retirement years will inform how much you should put into your pension.

Benefits

When you retire you may be eligible for certain benefits, such as a tax-free lump sum. The benefits available to you depend on the kind of pension you have taken out and the tax arrangements at the time of your retirement. Your financial advisor will be able to take you through the various options available.

Now is the time

How do you see yourself during your retirement? Relaxing in a restaurant with friends? Travelling the world or maybe just spending more time with the grandchildren? To reach your retirement goals you’ll need to make sure that you prepare for it in the best way. If you’ve yet to start your pension, now is the time to stop putting it off and start planning for retirement today.

If you would like some more information on Pension Plans contact us for a no-obligation chat today.

We will help you through every step of the decision process to help you find a pensions plan suited to your financial goals and current circumstances.

Phone: 098 51605 or Email: financial@hastings.proactivedigital.ie