Christmas is often a chance to pause, reflect, and enjoy time with family and friends. It’s also a natural moment to look back on the year that’s been. I’m incredibly grateful for the trust you place in me and for the opportunity to work with you. Supporting you on your financial journey is something I never take for granted.
The festive period also tends to prompt a few reflective conversations. In my previous blog, I looked at how much someone would need to save to reach a £1 million pension pot. As a useful follow-up, I thought it would help to explore what level of income people actually need in retirement.
The Pensions and Lifetime Savings Association (PLSA) has published research outlining typical retirement income levels:
The latest PLSA figures show that retirement is more expensive than many people expect. A comfortable retirement now requires around £43,400 a year for a single person and £59,000 for a couple. Even a moderate lifestyle needs significantly more than the State Pension alone provides.
This underlines the importance of private pensions, ISAs,and long-term investing when it comes to maintaining purchasing power andenjoying a comfortable standard of living in retirement — something both the UKgovernment and Martin Lewis are finally talking about.
My last working day before Christmas will be Friday 19thDecember. I’ll be taking a couple of weeks off to spend time with my family and recharge, returning refreshed and ready to go on Monday 5th January.
This year, rather than sending Christmas cards, I’ve chosen to make a donation to the British Heart Foundation. It’s a cause close to my heart, and I hope this small gesture helps support the vital work they do.
Everyone has their own idea of a perfect Christmas, and I suspect mine will look very different — and probably a fair bit more hectic —than the one ChatGPT kindly created for me.
I hope the festive period gives you the chance to relax,recharge, and spend time with those who matter most. Whether your Christmas is a quiet one or full of activity, I hope it’s an enjoyable and refreshing break.
Thank you again for being a valued client. I very much look forward to continuing our work together in the year ahead.
Wishing you a very Merry Christmas and a prosperous New Year.
