GoalThis is a question I get asked all the time and one that I often work through with clients. The low cost Financial Surgery we offer provides an excellent opportunity to run through this with an adviser who can ‘do the numbers’ with you over the phone.

In reality it will be a case of looking at your income and outgoings and working out where the spare cash is. We all work to earn money and naturally want that money to make us feel good. Now the way in which we put that money to use to make us feel good varies from person to person.

If you are the type to live for today then you will be happy to spend most, or all of it on enjoying yourself now. If you think you want to save for tomorrow then you may be inclined to save and invest a portion of your income for the future. But if you really want to retire sooner rather than later and it is a major goal of yours to be free from having to work for money then you may be inspired to commit a good proportion of your income towards this goal.

Hands up who would like to retire tomorrow? Would you like to forget all about work and be free to travel, spend time with friends and family and not have to worry about work? Well to me, that is what retirement looks like and what you should be aiming for. That is not to say you will not work in the future. You may want to as part of a healthy balance in retirement, but it will be on your terms.

The honest answer is that the more you put towards this goal now then the sooner this day will come. Putting it off, not thinking about it, hoping it will be ok are all the reasons I get to see at the other end why people in their 60’s are struggling to generate the income they need to even be able to stop working.

Blog by Jaskarn Pawar

Jaskarn Pawar is an experienced and award winning Chartered and Certified Financial Planner. He advises people all over the UK on financial planning and wealth management issues to help them reach solutions to fit their personal needs. You can contact Jaskarn on 01604 211234 or by e-mail on jaskarn@investorprofile.co.uk