Get Help. Planning for Retirement – LaterLife Financial Education.

Course Content

Knowing when to retire can be a very personal challenge, especially if you hope to have 20-30 years of active life ahead of you. But planning for retirement doesn’t have to be a taxing time, it could be a huge opportunity instead.

Whatever you plan to do with your new found time once you retire, no longer having a “work” structure throughout the day can be a perplexing change. Whatever your aspirations are, filling up to 50 hours a week for a long period of time is no easy task. Especially if you don’t really know what you want to do, or how much income you’ll have to do it with.

The LaterLife online course is designed to help you think seriously about all aspects of your retirement in a structured way. It’ll help increase the chances of enjoying and making the most of this exciting time, whilst avoiding some common pitfalls.

And, if you haven’t decided when to retire yet, it will help you weigh up your options to decide when is right for you.

Based on LaterLife’s face to face workshops, the on-line course covers both lifestyle and financial aspects of retirement planning.

Whether retirement is imminent or many years away, the course provides different paths and levels of detail so you can make the course what you need it to be. It’ll get you asking questions of yourself that perhaps you hadn’t thought about before.

Once you’ve completed the course, you’ll have considered the significant change your life will undergo, along with these aspects of planning and managing your retirement.

The lifestyle you want to live:

  • Understand the impact of change and how to handle it
  • Identify important parts of your current lifestyle and how they could impact on your retirement choices
  • Acknowledge your hopes and worries about retiring and how you can address them
  • Consider whether you want to continue with any form of work once retired and the options available to you
  • Plan for any hobbies or pastimes you want to develop
  • If adult continuing education will benefit you and offer any opportunities
  • Recognise the importance of your health and fitness, as well as improving your chances of staying healthy
  • Take advantage of alternative types of holidays and travel available to you once you’ve retired
  • Preparing for change in your personal relationships, and how to manage them
  • Considering the advantages and pitfalls of moving house once retired

Plan how to use the funds available to you

  • Understand the financial options of retirement, including; pension freedom, lump sums, taxation, budgeting and living on a fixed income
  • Identify ‘what you have’, ‘what you need, and any gap between
  • Remove emotion from financial decisions in favour of logical ones
  • Evaluate your current choices and preferences, as well as any associated risks
  • Understand your decisions as well as common myths and mistakes linked to investments
  • Assess options regarding your property, including equity release
  • Be informed on the potential impacts of ill health and long term care
  • Consider what you’ll leave behind, including Inheritance Tax and trusts