16th August 2023
How to invest after retirement
ENSURE YOUR WEALTH IS PRESERVED FOR FUTURE GENERATIONS
As you enter your golden years, the excitement of finally retiring may be tinged with some uncertainty. With the working days behind you, it’s natural to wonder if you’ve amassed sufficient resources and how best to utilise them.
Additionally, life can be unpredictable, so it’s essential to be prepared for unforeseen circumstances. Investing for income after retirement can seem a daunting task, but it is by no means impossible. With professional advice, careful planning and continuous monitoring of your investments, you can ensure that your savings last as long as needed.
To help you navigate this new chapter, here are some tips on investing after retirement to ensure your hard-earned savings continue to support you throughout your well-deserved rest.
KEEP AN EYE ON INFLATION
When it comes to investing after retirement, inflation should always be taken into account. Inflation reduces the purchasing power of money over time, so it’s essential to consider this when making investment decisions. Investing in products such as index-linked annuities or government bonds can help protect against inflation risk and provide consistent income over the long term.
CONSIDER DIFFERENT ASSET CLASSES
Investing in different asset classes can help diversify your portfolio and minimise risk. This could include equities, fixed income (such as bonds), property, cash or alternative assets. Different asset classes have varying levels of risk and returns, so it’s essential to understand the risks associated with each before investing.
DON’T FORGET ABOUT TAXES
Taxation rules change regularly, so it’s crucial to ensure you…
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A pension is a long-term investment not normally accessible until age 55 (57 from April 2028 unless the plan has a protected pension age)
The value of you investments (and any income from them) can go down as well as up, which would have an impact on the level of pension benefits available.
Your pension income could also be affected by the interest rates at the time you take your benefits.