Amanda's Note: This was provided by an online contact. 

The good news is that we are, on average, living longer than ever before, and medical advances mean that many of us can now look forward to happy, healthy years after our retirement. This means that we have more time to spend with our family or doing the things we really want to do. This costs money, of course, and it comes at a time when your income may drop dramatically. Don’t worry, our guide to living comfortably after retirement can help you make the most of the opportunities that will come your way when you stop working.

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Top Up Your Pension Pot

When you’re young, your retirement date can seem a long time away, but the years can pass by rapidly and you’ll then be reliant, at least in part, upon the pension pot you’ve accumulated during your working years. It is now compulsory for employers in the United Kingdom to automatically enrol workers into workplace pensions, and the employer will contribute as well as the employee. Even so, you may find that the final pension you receive is not enough for you to maintain the lifestyle you previously enjoyed, so it can make sense to make additional payments to your monthly pension contributions. These extra contributions may be little missed from your salary but can make a big difference to the pension you eventually receive.

Consider Equity Release

Many pensioners find that they have finally paid off the mortgage on their home, but still don’t have enough liquid funds to live life in the way they truly want to. For such people, equity release could be the perfect solution, and specialist websites such as can help you find out how much funds you can release from your property, and what the consequences of the release will be. Put simply, you can gain access to funds that you never knew you had, without having to lose ownership of your property. This means you can support your children or grandchildren, renovate your home, or simply enjoy the holiday of a lifetime with the person you love.

Cut Back On Your Overheads

Whilst your income will typically drop after retirement, there may also be an opportunity to reduce your outgoings too. Consider whether you really need the large car you had for your daily commute, or whether it would be more sensible to purchase a smaller car that’s more fuel efficient and has lower insurance and road tax costs. You may also be able to make large savings in your fuel bills, so don’t be afraid to shop around and switch to a new supplier if you find a better deal elsewhere.

The retirement age is changing to meet the demands of an ageing population, but whatever age you retire at you owe it to yourself and your family to make it as enjoyable and comfortable as possible. Equity release and reducing your expenditure can make a big difference to the retirement lifestyle you enjoy, as will increasing your pension contributions. It’s never too early to think about life after retirement, and the steps you take today can make a big difference to your tomorrows.

2 replies
  1. Bill in Houston
    Bill in Houston says:

    Another automotive option (if you’re married) is to get rid of one car. If possible, of course. In addition to maintenance you save on insurance.

    • Amanda L Grossman
      Amanda L Grossman says:

      Hi Bill! I hope you’re well?

      Funny enough, my husband and I have been without a second car for almost a year now (thanks to Harvey!). It’s been interesting. I’m thinking about writing a post about it — lots of perks and a few cons, of course.


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