Learning from your elders never goes out of fashion

Swimming with dolphins, visiting every continent, upgrading to a dream home. These are things that frequently appear on people’s so-called ‘bucket lists’, particularly as activities to look forward to once we can stop working full time. But how are these activities to be funded once we retire?

A recent poll by Sun Life asked Britons over 50 what their biggest regrets were, and not seeing enough of the world topped the poll. However, failing to start a pension early enough wasn’t far behind. Understanding and appreciating the importance of saving for retirement should start as early as people’s twenties to allow time for the build-up of as substantial a retirement fund as possible. It’s common sense and should help avoid the regret of not saving enough into a pension, making poor investments or underfunding investments.

One way to avoid these pitfalls of course is seeking expert, professional advice. However, a poll by LV= of just over 1,000 British adults aged over 55 who are retired or plan to be within ten years, found that 61% do not intend to speak to a professional expert about their retirement funding. After the Chancellor’s Budget on 8 March, now is a good time to remind your clients of the importance of thinking as far ahead as possible in financial planning.

With a new tax year around the corner, take the opportunity to look at how your communications to existing and prospective clients will help them receive the best advice for their ongoing plans and ultimately retirement. Although who said a bucket list was just for retirees?


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