The final years before retirement deserve more than reassurance that you are “on track”. They require a clear meeting about income, uncertainty and decisions that may be hard to reverse.
Bring the full picture: expected spending, every retirement fund and investment, debt, property, dependants, medical costs and other income. Ask which figures are confirmed and which are assumptions. Understand the proposed retirement date, inflation, return, fees, lifespan and tax treatment.
Then discuss the income structure. Which amount is guaranteed? Which remains invested? How flexible is spending? What happens after poor markets, death or a long life? If consolidation, withdrawal or an annuity purchase is proposed, ask what could be lost and when the choice becomes final.
Try this now
Prepare a one-page meeting sheet with five headings: income needed, income sources, assumptions, irreversible decisions and unanswered questions. Attach the latest statements rather than relying on rounded balances.
Ask your advisor
- Show me a lower-return, higher-inflation and longer-life scenario.
- What after-tax income could change, and why?
- Which decisions can be adjusted later and which cannot?
- What specialist tax or estate input is still needed?
Retirement product and tax rules are time-sensitive. Obtain current, personal advice before implementing withdrawals, transfers or annuity choices.
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