Slideshows | June 13, 2012

How do I plan for retirement?

Retirement can come early or late. The time might be spent close to home or travelling abroad. Whatever your choices, early planning and smart choices can help.

Top tips for retirement by ING’s Be Good at Money explains it is important to start saving for retirement as early as possible, giving more time for money to grow. Think about the lifestyle you want to have after you stop working take steps to achieve it. Find the mix of private, employer and state pension options to best suit your needs.

 

1

Start early

Start saving for your retirement as early as possible.

2

Make choices

Consider when you want to retire, the lifestyle you wish to have and calculate how much money you will need.

3

Prices go up

Keep in mind that with an average inflation of 3%, your cost of living will double in 24 years.

4

What’s on offer?

If your employer offers you a pension, take full advantage of it. If not, shop around for the best pension provider and pay close attention to the pension provider's fees.

5

Sunny outlook

Forecast the pension income that you can expect from the state and your employer – and supplement it with your own additional pension savings and investments if necessary.

Click here to view the PDF.

RetirementGoal settingPensionsInflationLife cycle

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