You may make one, two or sometimes all three, of the biggest money mistakes of your life as you transition into your likely 3 decade retirement, mistakes that will see you run out of money in retirement, potentially resulting in you becoming dependent on their children and the government.
THINKING OF RETIRING
This sounds bad we know but it’s true, and it is quite likely to happen unless you take advice to steer you away from the three big mistakes we talk of.
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Will you triple your income through a 30 year retirement?
Back in 1972, a first-class stamp was just 3p. Today in 2022 the same first-class stamp (it no longer has the price on it), I can tell you it is 85p. 20 years ago the price of a first-class stamp back then in 1992 was just 27p. So today, 30 years later, it is now 3 times more expensive than it was back then, and it’s likely that the same 3 fold rise will happen over the next 30 years – because that’s what inflation has done to us.
Have you got a strategy for tripling your income during your retirement? Inflation is currently over 6% and that’s what is reported. We all know that the real rate is a lot more and I always think it feels like its twice as much as what gets reported. So its probably 12% and energy prices at the moment certainly indicate that I’m not plucking numbers out of the air.
To help you plan, invest and ultimately live better, our wealth methodology is seven steps to helping you become finally bulletproof.
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Martin Wilcocks
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