In our Pensions Crisis Coach series, we aim to help ease your retirement worries. Are you concerned you’re not saving enough for your later years? Do you want to know if you have enough to retire or don’t know how to find your lost pensions? Email us at money@theipaper.com. We’ll seek to get you on the right track with help from some of the best financial experts and advisers in the business.
Robert writes…I’m 56 and want to retire in two years. When retired I want to spend more time doing my hobbies which are all low or no cost – walking, art, swimming, reading. I have no real concerns except for when I must pay for big ticket unseen costs like a new roof or replacing the car.
Currently none of these are on the horizon and I hope there would be enough in my funds for this when needed. I just want to maintain my current standard of living. Do I have enough?
Shorts
Alina Khan, the i Paper’s money coach reporter responds… to be able to ascertain if you can retire in two years we need to have a clearer picture of your finances. After some back and forth you told me by then you should have £130,000 in a Stock and Shares ISA and £80,000 in a Prudential retirement fund plus £30,000 in cash savings.
