Approaching Retirement and Not Sure You Have Enough?
You can have pensions, investments, cash, property and a good income, and still not know whether retirement is actually possible.
That uncertainty is common.
The problem is that account values do not answer the real retirement question.
The real question is:
Can my assets support the lifestyle I want, for as long as I need, after tax, inflation, currency, markets and unexpected events are considered?
For British expats, the answer can be harder because your pensions may be in the UK, your investments may be held internationally, your spending may be in another currency, and your retirement location may still be uncertain.
Josh Clancey helps British expats build clearer retirement plans so they can understand what they have, what they may need, and what decisions should be prioritised before stopping work.
You have the information. Now get advice on what it means for you.
This page can help you understand the key issues. But the right decision depends on your own pensions, investments, tax position, future plans and family circumstances.
If you are unsure what applies to you, or want to understand the best next step before making a decision, book a confidential introductory call with Josh Clancey.
Not sure if you have enough to retire
If you are approaching retirement and do not know whether you have enough, the first step is to bring everything into one clear picture.
That means reviewing pensions, investments, cash, property, income, liabilities, expected spending, tax-aware planning, currency needs and future residence plans.
A pension value by itself does not tell you whether you can retire.
An investment account value by itself does not tell you whether income will last.
A strong retirement plan should show what you have, what you need, what could go wrong, and what actions may improve the outcome.
For British expats, this is especially important because retirement may involve more than one country, currency, tax system and pension arrangement.
Who this page is for
You are within 5 to 10 years of retirement
You may be earning well, saving hard and building assets, but still unsure whether your retirement target is realistic.
You do not know your retirement number
You may not know how much wealth is needed to support your desired lifestyle after work.
You have pensions and investments in different places
You may have UK pensions, international investments, cash, property, employer benefits or assets spread across different providers and countries.
You are worried about running out of money
You may want to understand how long your assets could last and what risks could affect the plan.
What to check if you do not know whether you have enough
Clarify your retirement lifestyle
Retirement planning starts with how you want to live. Where will you live, what will you spend, who will you support, and what does a good retirement actually look like?
Map every pension and investment
Create a clear picture of UK pensions, workplace schemes, SIPPs, investments, cash, property, business assets and any other retirement resources.
Estimate essential and lifestyle spending
Separate core spending from discretionary spending. Housing, food, healthcare and bills are different from travel, gifts, hobbies and family support.
Review when income may start
Different assets may become available at different times. Pension access ages, State Pension, investment liquidity and property income all need to be considered.
Check tax and currency assumptions
Where you retire, where assets are held, and which currency you spend in can all affect the income you actually receive.
Stress test the plan
A retirement plan should test market falls, inflation, lower returns, higher spending, currency changes, health costs and living longer than expected.
Identify the gap
Once the numbers are clear, the key question becomes whether you are on track, need to save more, retire later, spend less, adjust risk or change strategy.
Still scrolling? It is probably time to book a call.
Reading can help you understand the issues. But it cannot tell you what is right for your pension, retirement plans, investments, tax position or family circumstances.
If you are facing a financial decision, or simply know your current arrangements need reviewing, a conversation is usually more useful than another hour of research.
What a retirement readiness review can show
You may already be on track
Sometimes the plan is stronger than you think. The value is in confirming this with evidence rather than assumption.
You may need to adjust the timeline
Retiring a few years later, saving more, changing investment strategy or reducing future spending may materially improve the outcome.
You may need an income strategy
If retirement is close, the key issue may be how to turn pensions, investments and cash into sustainable income.
You may need to reduce risk
As retirement approaches, sequencing risk, cash reserves, protection, tax and estate planning may become more important.
Why the retirement number is harder for expats
For British expats, retirement planning is rarely as simple as adding up pensions and guessing a withdrawal rate.
Your retirement may involve UK pensions, international investments, cash in different currencies, property in one country, spending in another, and tax treatment that changes if you move.
You may also be unsure where you will retire.
That uncertainty matters.
A plan that works if you stay in the UAE may not work the same way if you return to the UK. A plan based on sterling income may feel different if your spending is in dirhams, euros or dollars. A pension strategy that looks sensible today may need reviewing before income is drawn.
Your retirement location affects the answer
Where you retire can change spending, tax, healthcare, housing, lifestyle costs and currency needs.
Your pension assets may have different rules
Defined benefit pensions, defined contribution pensions, SIPPs, State Pension and overseas arrangements can all provide income in different ways.
Your investments need to support income
A portfolio built for growth may need to change as retirement gets closer and withdrawals begin.
Currency can change the real outcome
Exchange rates can affect how much spending power your pension or investment income provides.
Tax-aware planning matters
Pension withdrawals, investment income, lump sums, property income and future residence can all create tax considerations.
The plan needs regular review
A retirement plan is not a one-off calculation. It should be reviewed as markets, rules, residence, spending and life circumstances change.
The retirement readiness review process
Build your full financial picture
Josh helps you map pensions, investments, cash, property, liabilities, income, insurance, estate planning arrangements and future plans.
Define the retirement you want
The process explores where you may live, what lifestyle you want, what support you may provide to family, and when work should become optional.
Estimate future spending
Spending is split into essential costs, lifestyle costs, one-off expenses, healthcare, travel, family support and contingency needs.
Project income and assets
The review considers how pensions, investments, cash, property and other assets may support future income.
Stress test key assumptions
The plan is tested against inflation, market falls, lower returns, longer life expectancy, higher spending, tax changes and currency movement.
Identify gaps and trade-offs
If there is a gap, the review can help identify whether the solution is more saving, later retirement, lower spending, investment changes or a different income strategy.
Agree practical next steps
The outcome may include pension review, investment changes, retirement income planning, protection review, tax input, estate planning updates or ongoing monitoring.
Other areas of retirement planning
Approaching retirement and unsure
Use this page if your main concern is whether your current assets can support retirement.
Retirement planning
Use this page if you want a broader plan covering when you can retire, how much you may need and what actions are required.
Retirement income planning
Use this page if your main concern is how to turn pensions, investments and cash into sustainable income.
Drawdown vs annuity
Use this page if your main question is whether flexible drawdown or secure annuity income may be more appropriate.
Related retirement planning services
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Important information
This page is for general information only and does not constitute personalised financial, tax, investment, retirement income or pension transfer advice.
Retirement planning should be based on your personal circumstances, objectives, assets, liabilities, residence position, income needs, risk profile, tax position and existing arrangements. Projections rely on assumptions that may not be achieved. The value of investments can fall as well as rise.
