As family dynamics evolve it is now time to start considering stepping away from full time work or even potentially retiring entirely. Ensuring retirement plans are solidified is key at this stage. Preparing the financial portfolio to be ready for retirement is also important.
Important: The information on this website is for sophisticated/HNW investors only. It is not a personal recommendation to invest. If you’re unsure, please seek advice.
You are at the turning point of life about to turn the page from one chapter to the next. Planning your next steps around career, home life, and financial decisions around retirement are essential – time to reflect on your stage of life and assess options moving forward.
New family dynamics
Your children are beginning their own lives and suddenly, the family home can seem empty with all the vacant rooms. Downsizing to a smaller dwelling can both be a smart financial move freeing up equity for retirement, as well as being more appropriate for your new family dynamic.
Debt free
Having finally paid off the mortgage and having no dependents can often feel like an enormous relief. You can now focus your efforts and resources towards retirement whether that is now on the years to come.
High liquidity
Depending on your risk appetite, you may decide to either use your liquidity from a lack of mortgage payments and peak earned income to either continue with capital growth investments or even shifting to yield assets to prepare for retirement. Additionally those with higher risk appetites may even consider leveraging their existing properties to free up additional equity for retirement focussed investments.
Career opportunities
Having become an expert in your field, you likely have access to alternative streams of earned income from career opportunities such as consulting work or non-executive directorship positions. These can be an excellent addition to day job to top-up the pension pot, or even a natural segway into retirement by shifting from full time work to part time consulting/NED work.
