Regular financial health checks in retirement are essential

Health checks for yourself are important and financial health checks are no different. They can provide you with peace of mind or alternatively spot any issues before they become serious. 

If you are invested in your retirement from the outset then this will benefit you in the long term. 

Personal circumstances

Changes in personal circumstances could occur, especially from when you set up your pension decades ago. Changes to jobs or salaries could impact on the chances of you achieving your pension goals. We advise that if there has been any changes to these circumstances then it would be a prime opportunity to review your retirement arrangements to check they have not affected this in the long run. 

Your child is heading off to university 

Many parents look to support their children heading off to university so to reduce the amount of debt they graduate with. This could impact your personal finances for decades to come. You may have already prepared for this with a Junior ISA or other savings accounts but are these options still performing for you? 

Coronavirus pandemic 

The recent coronavirus pandemic may have also had an effect on your circumstances such as a pay cut or redundancy or even the consideration of retiring earlier than expected. Market volatility plays a role as well because people have been spending less so may need to reduce their income from their pension pots. All of these items could force you to adjust your financial plans in one way or another. 

Your personal health

Health is another factor that can affect your retirement. If you have changes to your health in retirement this can mean that a solution that was right for you early on, may not be one that is right for you later on. 

Evaluating the impact of these types of events with us will help your investments continue to reflect your appetite for risk and ensure that everything remains in line with your retirement objectives. Book in today for a financial health check at Resolve Financial Solutions and we can come up with an outline of what you need to consider over the coming years.  

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