Johnston Carmichael Wealth: Why planning your retirement doesn’t stop when you retire

Is your retirement plan packed with travel and grandkids or good books and a glass of wine in a down-sized garden? Whatever age you are, you can start planning now.

People reaching retirement age may think they’ve left it too late to do any financial planning.

But a Scottish financial planning firm says that even on the first day of the rest of your life, there’s still time to make a plan for your post-work years, then work your finances around it.

“Starting with the end in mind is a good place,” says chartered financial planner Ross Leckridge of Johnston Carmichael Wealth.

Retirement planning never stops: but you don’t have to find all the answers yourself.Retirement planning never stops: but you don’t have to find all the answers yourself.
Retirement planning never stops: but you don’t have to find all the answers yourself.

Retire Better, the theme of Johnston Carmichael Wealth’s video series, means something different for every individual; a happy retirement could mean a calendar packed with hobbies and friends, or a cottage in Brittany, or anything in between.

“Imagining what you want your life to look like is key,” says Ross, who then suggests a degree of planning, even if your retirement is just days or weeks away.

It starts with deciding not only your life goals but your financial aspirations … how much money you want to have available and how to make your pension pot help you achieve those goals, whatever kind of pension or pension funds you have. Guaranteed income, regular income and other assets – for example property, savings, shares and premium bonds, should all be factored in before making any decisions for your financial planning ahead.

Johnston Carmichael Wealth (adops please link is, through a series of video webinars, helping individuals and couples to plan for the future. Ross’s top tip is around planning – whether your retirement starts on Monday, or in 10 or 30 years’ time, sketch out your capital needs, your income needs and other needs, then discuss all those costs of living and lifestyle choices with a financial planner.

Only with all that information to hand, can you start making a plan and a timeline and some decisions for your future.

Take a few minutes to watch the video, and then visit the Johnston Carmichael Wealth website for more information on how they can help you plan your future.

You can also fill out this form and someone will be in touch.

Johnston Carmichael Wealth Ltd is authorised and regulated by the Financial Conduct Authority.

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