This guide covers each of the points below that make up our handy pre-retirement checklist:
- Make a list of things you want to do in retirement and how much they cost.
- Work out how your regular spending might change, including new categories of spending.
- Get a State Pension forecast
- Legal paperwork: review your pension beneficiaries, update your will, and put a Lasting Power of Attorney in place.
- Take advice from a financial planner: put together a plan for using your wealth to fund your lifestyle.
- Plan to review your progress regularly; small changes early on are easier than larger ones later.