Platforms & Pensions
If you need to make a smaller amount of money last longer , you may want to consider taking more risk . Although this sounds counterintuitive , the time horizon investors have in their late 50s is still classed as long term
retirement , particularly if you need to make your money last longer . But don ’ t go down this route if you can ’ t cope with the volatility . It ’ s better to have a little less money and a lot less worry . If you ’ re in your 40s or even younger , put as much money into your pension as possible .
As you move closer to retirement , the options you have to control your destiny quickly reduce . Although you may benefit from a windfall such as an inheritance in later life , don ’ t bank on it . In summary , always have a realistic retirement plan and , now more than ever , have a Plan B .
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