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Reform Magazine | December 2, 2021

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Making retirement work well for you

Making retirement work well for you

Plan well for retirement to get the most out of it, says retirement blogger Doug Hook

Handing over my computer, phone and ID badge before I walked out of the office on my last day was something I’ll never forget. I was on cloud nine with all kinds of emotions swirling around in my overly excited mind.

Getting to that stage didn’t happen by chance. Planning for it from a financial point of view started early in my career and I always made sure I was paying into my occupational pension scheme. Having an independent financial advisor on my side made an incredible difference. Although I had a demanding full-time job before I retired, another good option is to gradually reduce your hours, go part time or take a less stressful job.

An important thread in my retirement is this: I might be retired from my salaried career but I’m definitely not retired from life or being a Christian.

Here are a few general tips.

Know what you’re going to do when you retire – make sure you have good things to look forward to.

Find an independent financial advisor, the sooner you can the better – ideally in your 20s or 30s but it is never too late. Expect to pay a fee for retirement planning but generally it is worth every penny in the long run.

Ask your employer about any flexible retirement schemes which might be available for 55-year-olds. Perhaps you can reduce your hours as a step towards retirement…

Doug Hook retired from his local government job in 2018. He blogs about house refurbishment and his retired life at maturingwell.co.uk

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This is an extract from an article published in the November 2021 edition of Reform

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