The speeches have been made, the carriage clock presented, and you are well and truly in the groove of your new life as a retiree.
In preparation for retirement, you may have attended many practical courses that help you prepare for filling your day and getting to grips with your new purpose in life.
IPF’s annual Retirement Seminar is one of the most popular events we run each year. We have seen nearly 5,000 of our clients into their retirement journey, and this is a figure we are proud of.
But one thing our clients find surprising is that we ideally like to review their financial plans every year to 18 months once in retirement.
‘But I did all my planning with my Financial Advisor before I left’, you may say. But reviewing your short, medium, and long-term assets once in retirement is crucial.
Why? Because your priorities and lifestyle needs can and will change. As well as that the world is changing around you, so it is vital to sit down with your Advisor to assess where you stand now and if there are alterations required to your financial plans.
IPF launched its Retirement Helpdesk at the start of 2018. Why? We wanted to give our retired clients the opportunity to have their financial questions answered now that they are out of the psychologically safe space of their workplace.
IPF’s dedicated retirement Helpdesk receives, on average, 20 calls per week from retired clients.
Typical queries include;
- Where is my Approved Retirement Fund (ARF) invested? How has the fund performed?
- Can I change the amount/frequency of the withdrawal from my ARF?
- What investment options do I have with my gratuity money?
- I am still paying for life cover. Do I need this?
If you bought an expensive car you would make sure to have it serviced annually. So why not treat your retirement assets in the same way? Once set up, they need to be reviewed, assessed, and if necessary, updated regularly.
An annual check-in with your Financial Advisor can give you the peace of mind to ensure you can continue to enjoy your newfound free time.
To book a Post-Retirement Consultation with an IPF Retirement Specialist, visit; https://ipf.ie/post-retirement-reviews/
Written by,
Wendy Thompson,
Senior Financial Advisor.