Early career profile
Step 1: I can't set a target. The future is too far away.
The secret of getting ahead is getting started. Many financial advisors say you will need 70% of your final salary to support your retirement and any other needs you may have.
Step 2: I can’t afford any savings!
It is never too early to start saving, even in small amounts. Saving is a great skill to develop plus you enjoy income tax relief on your contributions.
Step 3: Does it matter which retirement plan I choose?
Your retirement plan choice can make a big difference to your overall savings. The longer you have until retirement, the more risk you are likely to be able to take to achieve better returns for your savings.
Middle career profile
Step 1: What target is right for me?
You should think about the lifestyle you want to have upon retirement and how much you will need to fund it. Once a target is set, you can access and review it regularly to see if it is still right for you.
Step 2: Am I contributing enough?
The more you contribute, the bigger your savings will be. Setting a target helps you measure if you are saving enough.
Step 3: What is a suitable retirement plan?
It is important to regularly revise your retirement plan to ensure your choice is compatible with your targets and within your financial capacity. 7Q Retirement Partners offers planning tools to help you choose the retirement plan best suited for you.
Approaching retirement profile
Step 1: How much money will I have at retirement? Is it enough?
You should think about all the other sources of savings you may have, including your Government Pension. If you think this is not enough for the lifestyle you want, you should set a realistic target and think about the steps you can take.
Step 2: Is it too late to boost my savings?
It is never too late to boost your savings. If you are an active member, you can change how much you are contributing at any time on the 7Q Retirement Partners website.
Step 3: Do I need to change my retirement plan?
7Q Retirement Partners offers planning tools so that you can make sure your choices are compatible with how you plan to access your savings.
