Personal Finance

Hitting key life milestones later? Make sure your retirement plan is keeping pace

We are all living longer, and our financial strategies need to reflect that

Most brokers recommend you aim to have an annual income equivalent to between 50 and 66 per cent of your final salary on retirement, but you may need more or less than this, depending on your circumstances

People often underestimate the amount of money they will need, and the amount of time they will spend, in retirement. But as Ireland’s population ages, and people hit key milestones later in life, accurate planning is even more important.

So what are the key challenges many of us will face, and how can we ensure our retirement nest egg meets those challenges?

1 Longevity

Irish people are living longer. The average life expectancy is 81 ...