A recent study has identified several distinct pension personality types, each with its own strengths and challenges. Which one resonates with you?
A recent study has identified several distinct pension personality types, each with its own strengths and challenges. Which one resonates with you?
Procrastination Pete and Paul are the most common type, often overwhelmed by the complexities of pensions. This group is likely to make poor decisions, such as hastily withdrawing a 25% tax-free lump sum without a clear plan – potentially costing the thousands in future income.
Buy-to-let Brian and Barbara prefer the perceived security of property, though they often underestimate the costs and risk involved. Meanwhile, Spent-it Simon and sally focus on enjoying life now, potentially jeopardising their long-term financial security by dipping into their pensions early.
Winding-Down William and Wendy are easing into retirement, supplementing reduced work hours with pension withdrawals. while Help-Me Harry and Helen are determined to get it right by seeking financial advice.
Whatever pension personality you relate to, everyone prepared for retirement differently, with attitudes ranging from denial to detailed planning. The great news is that we’re strategic planning type, ever responsive and flexible to your changing circumstances and market conditions. So, however you’re approaching retirement, you know that you can count on us.
