Whatever your myPlan results, don’t be put off from taking action - its not too late. There are still steps you can take to boost the income you’ll get when you retire.
Why not combine your various savings ‘pots’ to make managing your money easier? As you get older you may appreciate the simplicity of having everything in one place, and its easy to do using our consolidation tool. Take stock of what you have and then you can start to address any issues.
What are some of your investment options?
ISAs - flexible and tax-efficient, ISAs will give you options regarding the types of funds you invest in, and how long you stay invested. Ideally investments in equities should be long term - 5 years or more - and their suitability will depend on how long you have until retirement, or whether you think you'll need the proceeds straight away
Pensions and SIPPs – If you don't have a pension yet, it may not be too late to start and its a very tax-efficient way to save. If you have a pension already you may want to consider making a lump sum contribution to boost it, or starting a SIPP or personal pension to increase your options - you won't have to draw all your pensions at the same time.
Property - If you are relying on your property to provide your pension, now may be the time to consider downsizing and releasing the equity. But if its your family house, make sure you've thought about what this may mean - it could be moving to a new area and losing contact with friends and neighbours, just when you finally have time to spend with them! This could be the time to look at alternative investments instead?
Ways to take control with Fidelity
Fidelity's Retirement funds
Whether you opt for an ISA, a SIPP or to invest outside of these tax wrappers, Fidelity can offer you a wide choice of funds, including Fidelity's Retirement funds. You simply choose the fund with the date closest to your retirement date and we do the rest. And if things change – your fund can change too.
Want more choice?
Our online fund supermarket, FundsNetwork
TM offers you a huge choice of funds from over 60 leading providers, within several different tax-efficient wrappers.
The value of your investment can go down as well as up and you may get back less than you invested. Please be aware that the value of tax savings and eligibility to invest in an ISA or SIPP will depend on individual circumstances, and all tax rules may change in the future.
