Planning for retirement
Whether it is in the distant future or just round the comer, planning for your retirement can help you to get the lifestyle you want after all those years of hard work. There are a number of factors to think about;
- What age you want to retire
- How much money you may need
- What you can afford to invest now
Most of us take a pragmatic approach in order to meet our retirement needs. However, planning for retirement is increasingly important- the cost of living continues to rise and the value of the state pension looks set to continue to dwindle in real terms.
If your company offers a pension scheme, it’s worth noting that few other investments can match them for tax efficiency.
No time to lose. With numerous other demands on your finances, it’s not always easy. However, even small amounts invested early can make a big difference over the longer term so the sooner you get started the better.
If you’re comfortable that stock market investments present a higher risk than cash savings accounts, it makes sense to see what opportunities are available for your retirement. While we all want to retire with as much as possible, it makes sense to be realistic in your expectations.
At BMO, we have a range of investment trusts that can provide the potential for capital growth as well as income. You have the flexibility to switch between trusts quickly and easily to suit your changing requirements. So if you are many years from retirement you can create a portfolio of investment trusts focused on achieving growth and then switch to income focused trusts as you approach retirement.
Discover our ten Investment Trusts
Our 10 investment trusts provide a range of strategies with the option of capital growth, income or a combination of both and with a specific regional focus or with a global remit. To find out more about our investments trusts click here.