If retirement beckons in the next fifteen years you will need to consider carefully and evaluate your income requirement and the extent to which your investments are going to deliver the return you require. You may also wish to help your children, and you still have to pay for a wedding. Investments, property and annuity rates are probably all lower than you might have expected before the economic and financial problems of recent years.
As you approach retirement, you need to review and update your plans at least annually to satisfy yourself that your accumulated capital is at less risk and to ensure that your income in retirement will meet your needs – and provide a little extra for the realisation of some of those long planned dreams.
Many people start retirement in debt. Do all you can to repay debt before retirement day.
At this point in life, it is worthwhile checking your state pension entitlement. This is done by completing form from Social Security. This statement will indicate whether you are entitled to the full state pension. There may be gaps in your state records where Social Security that you paid has not been credited to your records. This summary will also tell you what entitlement you have to additional pension.
You should also keep track of and up to date with the value of any private pension fund by monitoring and filing their annual statements