Retirement can mean different things to different people. Some people see stepping back to a three day week as retirement. For others, it’s about stopping work and hanging up the reins completely. But whatever retirement means to you, it’s imperative that you get the opportunity to enjoy it. So if you’re retiring in 2020, here is our guide for what you need to do.

1. Retiring in 2020? Here’s our guide for
what you need to do.
A new year is always an exciting time, but if you’re retiring this year then, for you, it’s even
more exciting! To have a happy, healthy, and of course, an affordable retirement is high on
every imminent retirees wish list. Retirement can mean different things to different people.
Some people see stepping back to a three day week as retirement. For others, it’s about
stopping work and hanging up the reins completely. But whatever retirement means to you,
it’s imperative that you get the opportunity to enjoy it. So if you’re retiring in 2020, here is our
guide for what you need to do.
Plan early, and plan well.
If you’re retiring this year, then your financial plans will hopefully have been underway for
many years now and should be nearing fruition. It’s never too early to start planning for your
retirement, and hopefully, you’ve been saving and investing for many years now.
To downsize or not to downsize?
This is the first major question to face most retirees. Stay in the - probably now too big -
family home, or move to somewhere smaller and more manageable? It’s probably the most

2. sensible, and most helpful to your budget long term, to downsize to that smaller property. A
lower annual spend on maintenance, council tax and utility bills that comes with a smaller
dwelling will leave more money each year for you to spend on the things you enjoy.
Stay put, or move on?
If you’re downsizing anyway, why not consider a complete change of scenery and move to a
new area? We’ve previously looked at great places to retire in the UK as an article, and
there’s definitely no shortage of fantastic towns, cities and villages within our borders to
move to. If you’re planning to retire to a new area, think about the long term as well as the
immediate future. For example, if in later years you give up driving, does it have a good
bus/train service available? You should also think about the distances to the shops, pubs,
and other amenities, again with an eye on a possible ‘car-less’ future. Be sensible, and don’t
let your heart rule your head. Mobility and access become increasingly important the older
we get, and there is little point pretending otherwise!
Travel, and see the sights.
With all your extra free time, surely you’re not going to just stay at home all day, there are
some amazing places to see and visit in the UK, in fact, we’re spoilt for choice in terms of
places to go and things to do. Start local, and spread outwards - after all, you have all the
time in the world now!
How much should I spend in retirement?
That depends entirely on your circumstances. A good financial adviser will help you plan
what you need each year of your retirement, and how much you need to save and invest to
be sure you get there comfortably. Your savings plan should start years before your actual
retirement so that you can be certain of having more than enough to live on comfortably.
What expenditure can I expect in my retirement?
You’ll have to budget for everything and leave a little leftover for emergencies. Your bills will
include all your household running bills and utilities, plus the cost of running your car. Food,
clothing, entertainment and holidays will all have to be budgeted for in advance, as of course
will birthdays and Xmas. Unless you’re going to continue working on a part-time basis,
you’re going to have to save enough in advance to be able to live comfortably for many
years to come. Your financial advisor will help you to work out what your annual budget will
be, and show you how to achieve it within your means.

3. Make a monthly plan.
If you’re retiring this year, the time is going to fly and before you know it, it’ll be your last day
at work. Now that the new year celebrations are behind us, it’s time to knuckle down to some
long-term planning. Get a monthly ‘to do’ chart and get planning! If you’re downsizing, having
a clear-out, heading off on your first holiday, meeting your financial advisors - get it all in
your ‘to do’ list so you can count down the months until retirement day.
Enjoy your retirement.
No matter what, you’ve earned it. The culmination of all your years of hard work, and your
opportunity to go out and explore the world we live in. Enjoy being able to spend your time
doing the things you love, visiting the people you love, and being freed from the rigour of
working life.