Retirement Income the key
In days like these, the thing all retirees are looking for is retirement income. Now that the economy almost everywhere is not growing, extra income from working part-time will be difficult.
An effect of the recession is that all nations are bringing in less tax revenues as people earn and spend less. Therefore you can’t expect an increase in the pension paid by the government.
You need to find a really reliable pension planner who can get you an annuity or other form of income for retirement. There are usually retirement investment advisors in each county, from Cornwall to Fife and the rest.
Get the biggest retirement income you can
How do you maximise your retirement income? If you are not retired, you can put more money into your savings, but you will want to make sure that whatever you put in will still be there when you need it. This means you need to get very good advice about your investment, and not rely on the stock market going up. It may go down further, or go sideways for years – and there is little to be gained in a stock market that is stagnant.
To find a suitable financial advisor, search on the web, and read what they say they do. Then phone some of them up and see what they say. You want someone that specialises in over 50s retirement advice, because they are more likely to understand your problems than a firm that deals mainly with people in their 30s and 40s.
As there are more retired people in some districts than others, you are more likely to find what you want the wealthier counties. Thes are in the south of England. For example, you will do better looking for retirement income Hampshire than retirement income Durham because it is a much more affluent county. This means that the financial advisers are used to dealing with middle-aged people.
Also, remember that you do not have to convert you British pension fund to an annuity till you are 75, so from retirement to 75 try to live off other income if you can – you will want a bigger income when you get older.