Retirement can last a long time, so you’ll need to consider this when working out a budget. Creating a budget can help to estimate how much income you might need in your retirement.

By completing each of the 5 tools fully, you will be able to view a summary of all your figures. You will need to log in to do this.

Please complete the activities below.

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Current income

Source of income is one of the biggest changes people go through in retirement and it is important to have a plan in place before you retire. This tool will help you identify where your money comes from now in order to consider how it will change in your retirement.

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Income in retirement

The money you have in retirement may come from a number of different places, so it’s important you have information about the amount you will receive from each source. 

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Budget planning

Retirement can last a long time, so you’ll need to consider this when working out a budget.  Creating a budget can help to estimate how much income you might need in your retirement.

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Your retirement lifestyle

Making the transition into retirement for many people can be daunting. Work has taken up a significant portion of your life, so filling that gap is something to give considerable thought to.

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Retirement income checklist

It is important to be clear about your choices, identify the risks involved and also understand the tax you may have to pay. Use our checklist…