Back in May 2021 our Blog detailed the level of income needed for 3 different types of retirement. A minimum, moderate & comfortable retirement. The results may have shocked you as to the level of income needed to provide you with these types of retirement were quite high.
Since then we have seen inflation rocket and therefore so has the level of income needed to achieve the same level of retirement. This confirms why you should regularly review your pensions.
Here are the updated incomes needed for these 3 different levels of retirement.
Keep in mind that the actual level of income needed varies between people based on their needs and lifestyle. However, the above is a useful starting point.
Contact us to see what type of retirement income you need and what your current pensions provisions are projected to provide you with.