Though the UK’s average retirement age is around 64, you really should start to plan for it much sooner – many who leave the process for too long find that they don’t have the money to fund their aspirations in later life.

This is reflected in recent research carried out by Prudential, who found that 70% of 45 to 55-year-olds are anticipating that they’ll experience a lower standard of living when compared to current retirees.

Despite this particular figure being overwhelmingly one-sided, the Heritage Wealth Solutions team would like to remind everyone that there are ways of ensuring that your post-work years aren’t spent struggling monetarily

Today we’re outlining three retirement planning tips, as well as explaining why it’s so important to carry out each:

  • Start saving

Regardless of whether it’s a small or large amount, setting money aside is a great way of gradually building up a bigger fund. Don’t worry if you can’t afford much for the time being – a healthy savings habit is never a bad routine to get into.

  • Keep debts in order

Managing your debts in the right manner will pay dividends once you are retired. Some aim to have paid their mortgage off by this point, while others are just starting to get their children removed from the ‘parent payroll’.

  • Seek advice

Financial planning obviously isn’t everyone’s forte. Fortunately, however, there are advisers that excel in the field. These should hold all of the relevant qualifications and be able to effectively break down and communicate the confusing technical jargon.

Taking this into account, if you are based in Leeds or the remainder of Yorkshire and want retirement planning advice, please don’t hesitate to get in touch with one of our financial planners today.

You can do so by either calling 0113 350 2080 or emailing