Britons warned of ‘dramatic’ inflation impact – how to avoid retirement planning traps
DeVere offered me £79,000 to keep quiet
The Times has a story about how a retiree has lost £23,500 after investing through deVere Group. The individual was cold-called by the group and Told d he could get much higher returns and benefit from tax breaks if he transferred all his funds out of the UK. This all obviously went wrong, and he was offered a settlement to keep quiet.
This reinforces the message that you should never do anything with your money based on someone cold calling you. Also, any advice involving transferring pensions overseas should be scrutinised heavily.
How much does a comfortable retirement really cost?
The Telegraph references a report by consumer publication Which?. This suggests that the price tag for a happy retirement is £305,000.
Whilst this is important in showing the scale of savings needed to save for a decent retirement, the cost of a good retirement is an individual thing. Rather than following rules of thumb, proper financial planning can give you a good idea of what you need to save.