Retirement planning advice is only partly to do with money.
In fact, financial advice in general very rarely has anything to do with money. More often than not we see money as a means to an end. It is what the money can do for us that really matters. Therefore knowing what you want to do with your money, when, how, why etc. will help you to make much better financial decisions.
This is particularly so when planning for retirement. This is the single biggest and probably by far the most expensive ‘thing’ you will ever spend money on or save money towards. Imagine planning to save for an event that will cost £x per annum, each and every year, and might last something like 50 years. If you add that lot up it would come to quite a bit.
So it makes sense to do it very well. That is what we believe at Investor Profile. If you are going to do anything well then plan your retirement with skill and expertise. Retirement planning starts with you putting set goals in place. When would you like to retire by? What would you like to do when you have retired? What will you buy before or after retirement? What will you do that might cost a bit more? All of these questions help you start to plan.
Once you have more of an idea then you can start to think about how you will fund this retirement. In essence that is what good retirement planning is all about. It has nothing to do with pensions, or even money. Not initially anyway. Even once you have done your retirement planning, there is no obvious avenue to saving for it. There are many different ways you can save and invest towards your retirement.