Retirement planning is key if you want to enjoy your retirement. Retirement planning consists of two phases: pre-retirement funding and post-retirement income. Pre-retirement funding means investing in a retirement annuity. Things to consider include how much you can currently afford to invest and how long you have until you reach retirement age.
The second phase – post-retirement income – requires investing the proceeds of your retirement annuity into a life or living annuity. Post-retirement income considerations include choosing a product that is able to sustain capital growth while you receive an income and regularity of income payments.