making-retirement-work title picture. Old woman holding a contented looking tabby cat

Making retirement work for you – no matter what your age!

Print Friendly, PDF & Email

Cover photo from

This is a contributed post. Full Website T&Cs can be found here.

I’m currently in my 30s (33 this year!!), and retirement feels like a long way off. Still, this is now the *perfect* time to be planning my retirement, and how much I need. The tasks I have are to pay off my debt, and to grow my investments concurrently. I know my plan. Do you know yours?

This post gives you a couple of things to think about when it comes to retirement. I hope it provides some food for thought!

You must remember to have fun as well and LIVE your life as you go, but don’t forget to plan for the future so you can still continue to have fun even when you retire.


Being close to retirement can be a time of relatively mixed feelings. On the one hand, you can celebrate at the ‘completion’ of your career, and all that effort and time should now afford you to live comfortably without needing to work anymore. However, on the other hand, pensions aren’t what they used to be, and it can be a time of worry, as tight organisation is important to keep yourself taken care of.

Despite also having access to a retirement fund, it’s also important to continue to maintain good money-management habits to keep this money well utilised and continuously providing you an income no matter what. Saving money for retirement is of course a topic that is often discussed, but saving money during retirement, and the realities of retirement are less so.

Retirement Realities

While many of us still at work don’t fully grasp the concept of retirement, it is something to ponder. What will you be doing with your time? Will you take up a new hobby, or sit around the house all day? Can you imagine travelling, being ill, having grand children? While this is quite difficult to imagine, this article from The Guardian about ways to think about and prepare for retirement makes for an entertaining read (but retirement is what you make of it in my opinion, so do what the hell you want!).

Forced Installments

While it is possible to receive your retirement payments in installments, there are different options you could consider depending on your circumstances and amount of money you have saved and where.

When you first retire, having this entire pot of money available to you can be overwhelming, and you could be tempted to start enjoying it straight away. However, it’s highly likely that you need to stretch this out over the years (especially with people now living longer), meaning that placing the cash in an annuity where you are given a fixed income from it might be a good strategy for you. Its not always the best in terms of your wealth though, and could leave you with an inflexible product that you cannot swap out of, so contact a good financial adviser and ask for recommendations before you do anything.

Having a fixed monthly income can be the kind of stability you want, but an annuity might not provide the amount you need to have an awesome retirement lifestyle. Explore your options well!

Care Home

As we get older, living independently may become less and less sensible, especially with multiple health needs and mobility issues. Placing yourself in a retirement community can help you not only receive the true care you need, but combine all of your accommodation, food, social, medical and other assorted costs into one package. This also means that you will have a direct access to the best medical care for your age group, especially in these care homes, which can provide much needed security in the right circumstances.

It is not cheap however. Assisted living and care homes are costly to run, and with the government providing less and less help, it is definitely something to plan well for. If you don’t need it, great! But if you do, and you want a decent choice, then you need additional money for this.


As we move through life, we are usually surrounded by a collection of items you have picked up over the years. If you’re a hoarder, then even more so! Some might be collector’s items, some might be strange purchases you have made in the heat of the moment, among the many other bits and pieces of daily living. Aside from the items you hope to gift one day, it could be a great chance to sell some of the unnecessary items you have kept in order raise more funding to enjoy experiences in retirement. I watched a documentary the other day called “Posh Pawn” on Channel 4. In this particular episode, one woman decided to sell some costume jewellery that had been in her family for years. It turns out it was worth circa £300,000!! (she only thought it was worth £20,000) 

With that in mind, would you prefer to declutter before/during retirement, or leave it for your family after you pass away? I don’t think there is a right or wrong answer, but this article goes with the argument of decluttering sooner rather than later! A bit morbid, but something to think about.

What Next?

If this article has got you thinking, and you’d like to consider boosting your work-place pension by learning how to invest, why not drop me an email and be among the first to be alerted when my complete beginner’s guide to investing e-learning course is released?

In addition, you can join me in my Private Facebook Group for support and guidance with all things money. We have regular Facebook Lives on different money topics, which have all been left up for you to take a look at. Recent topics have been cryptocurrencies, pensions, investment pyramids and how to manage your money though out the year. I look forward to meeting you there!

Lots of Love,

Learn how to invest!

Leave a Reply

1 Comment threads
1 Thread replies
Most reacted comment
Hottest comment thread
2 Comment authors
The Female Money DoctorSusan Recent comment authors
newest oldest most voted
Notify of

Interesting post Nikki. I certainly wish I’d put more thought into retirement in my 30s but I suppose that while the best time to plan retirement was the day you left school, the nex best time is today. Whatever age you are, now’ the time to plan then take action. I’d also suggest clearing out clutter sooner rather than later. Having cleared out my mother’s tiny flat, it was overwhelming. There was too little time, too much stuff and too many conflicting emotions to deal with. It’s a horrible thing for anyone to do and no matter how hard it… Read more »

Password Reset
Please enter your e-mail address. You will receive a new password via e-mail.

Scroll to Top