Do you know what type of retirement lifestyle you want and how much money you’ll need to live on?
By considering the type of retirement lifestyle you want, you’ll start to understand how much money you’ll need to live on.
Do you want regular holidays, a new car and plenty of hobbies? Or are you happy with less holidays and spending less too? Understanding how much you might need will help you understand how long you might need to save for and whether you’re on track. Consider your social life, family commitments, future health care and where you might save money too.
The resources shown could help you understand how much you might need. You don’t have to fully understand this now and can go through to the next question to continue your planning.
By considering the type of retirement lifestyle you want, you’ll start to understand how much money you’ll need to live on.
Do you want regular holidays, a new car and plenty of hobbies? Or are you happy with less holidays and spending less too? Understanding how much you might need will help you understand how long you might need to save for and whether you’re on track. Consider your social life, family commitments, future health care and where you might save money too.
The resources shown could help you understand how much you might need. You don’t have to fully understand this now and can go through to the next question to continue your planning.
Read our article What type of retirement you want?Retirement lifestyles will be different for everyone – you may wish to work part-time, take up voluntary work or simply relax and travel. So how much money you’ll need will depend on the type of lifestyle you want.