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The Good Retirement Guide 2025

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The Good Retirement Guide 2025

Everything You Need to Know about Health, Property, Investment, Leisure, Work, Pensions and Tax

Kogan Page,

15 мин на чтение
6 основных идей
Аудио и текст

Что внутри?

Learn how to navigate the challenges of retirement planning and make the most of your golden years.

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Editorial Rating

9

getAbstract Rating

  • Well Structured
  • Concrete Examples
  • For Experts

Recommendation

Are you unsure how to handle the numerous, often complex elements involved in planning for retirement? In this thorough guide, economist and personal finance expert Jonquil Lowe offers you a road map for navigating these challenges with confidence. Her up-to-date advice on savings, investments, pensions, taxes, and more will help you create a clear strategy for making the most of your retirement years. Though some content is UK-specific, this book will be a valuable resource for anyone preparing for retirement — whether you’re just starting to plan or looking to refine your approach.

Summary

Understand the main financial risks you face in retirement and make plans to counter them.

A good retirement plan addresses risks and ensures your income keeps up with inflation so you can maintain your standard of living throughout your golden years. The three primary risks are longevity (outliving your savings), investment risk (market fluctuations), and inflation (the rising cost of living). Even low inflation over many years can erode purchasing power. For instance, a 2% annual inflation rate means that after 25 years, £100 [$135] would have the buying power of only £61 [$83].

In practical terms, a successful path toward retirement involves six steps:

  1. Clearing any problem debts.
  2. Maintaining your workplace pension scheme or funding your own pension.
  3. Purchasing term life insurance if you have dependents.
  4. Creating a financial cushion of at least three months of emergency living expenses.
  5. Determining a housing plan.
  6. Saving and investing your money.

Focus on creating and sticking to a budget, cutting non-essential spending, and identifying all your income sources and determining which are inflation-proof...

About the Author

Economist Jonquil Lowe is a personal finance researcher. She is Senior Lecturer in Economics and Personal Finance at the Open University, a Senior Fellow of the Higher Education Academy, and an Associate Member of the Chartered Institute for Securities and Investments.

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