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Building and protecting your wealth

Investing During Retirement

Retirement is something you work towards your whole career. You’ve planned and saved for years, but it’s important you don’t think of your investment portfolio as final, even after you stop bringing in an active income. In fact, with the right investment strategy, you can make your retirement savings last the entirety of your retirement.

This does not constitute advice and advice should be sought in all instances before acting on it.

While it’s not unheard of to be retired for more than thirty years, it’s likely that wasn’t the scenario you had in mind when you initially embarked on your retirement savings journey. But these days, retirement is lasting longer, thanks to extended life expectancy, and often even by choice if someone retires early. Be sure to have a plan for maintaining your income during an extended retirement.

Boost during retirement

When you’re no longer working, you will need to shift your investment strategy as the conditions are no longer the same.

While you were still working and bringing in money, your priorities were making your money work harder for you, but when you no longer have a consistent flow of new money, you will need to focus on ways to generate income instead.

A review of your financial circumstances and future plans when you retire should be one of your first actions so you can determine the best way to proceed.

For most retirees, the plan is that your investment strategy will let you withdraw money from your portfolio without diminishing your pot too much and it will continue to grow.

Investment strategies

One thing you’ll always need to keep in mind with your retirement savings plan is inflation, and once you retire and want your savings to keep providing for you, it will be even more important.

Unfortunately, you don’t just have to worry about market volatility or your portfolio declining – inflation will bring down the real value of the money you have saved, so your strategy needs to take that into account, for both the present and the future.

Shifting your asset mix and ensuring your portfolio remains diversified with cash, equities, bonds, and property and caters to your risk tolerance and goals will be crucial. 

Often, many investors tone down their risk appetite when they retire, which might be a hard habit to form after decades of an aggressive strategy. But in reality, diversification and asset allocation become even more important during retirement to balance the risks and returns across the board.

Finding financial security

Even though some retirees choose to continue working to stay busy and keep their mind sharp, if you decide to take a relaxed approach to retirement, ensuring you’re financially secure the entire time you aren’t working will be your top priority. This means planning will be essential.

Try to ensure you have available cash for at least two years readily accessible to cushion any unexpected blows to your portfolio. 

Here to help you

No matter what your retirement dreams are, the key to enjoying it is to make sure you don’t need to worry about finances. Whether you’re just starting out in your career or mere years away from retiring, building continued investing into your plan might be the right move for you.

Get in touch with us to find out how we can help you explore your options.

Want to continue to build your wealth during retirement?
Investments | Financial Planning | Retirement | Save Tax | Protection |

Dental & Medical Financial Services have been helping doctors and dentists to build and protect their wealth, whilst saving tax for over 25 years.
Call Darren to discuss your options.

Tel: 01403 780 770


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