When can I stop?
What is the earliest date I could retire comfortably?
Retirement planning for the life you want
Retirement is not one date but a long stretch of life. We help you work out when you can stop, what you will spend and how to make the money last.
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The central retirement question is simple to ask and hard to answer: how do I turn savings into income that lasts as long as I do? The answer depends on your spending, your pensions, your health, the order in which you draw money and the tax you pay on it.
We map these pieces into one picture, test it against different outcomes and show you the trade-offs. Along the way we look at tax efficiency, health-related risks and what you hope to leave behind.
How it fits together
Each part of a plan connects to the others. Select a topic to read more.
Your retirement
- Income sourcesPensions, savings and other income.
- SpendingWhat a good life will actually cost.
- TaxDrawing money in a tax-aware order.
- Health and carePlanning for the cost of care.
- LegacyWhat you want to pass on.
Planning changes as retirement gets closer
Different decades call for different questions.
Ten or more years out
Estimate your target income, maximise tax-efficient saving and avoid costly debt.
Five years out
Refine the numbers, review investment risk and consider how pensions and benefits will start.
The year before
Confirm income sources, plan your first years’ drawdown and review cover and estate documents.
Early retirement
Spend within the plan, watch inflation and be flexible if markets fall.
Later years
Simplify, plan for care costs and make sure your wishes are documented.
Illustration only. Your own needs will differ.
Who benefits from retirement planning?
- Anyone within ten to fifteen years of retiring
- People unsure whether they can afford to stop work
- Couples who want to coordinate their plans
- Those with several pensions or accounts
- Business owners planning to sell or step back
- Anyone already retired who wants to check their plan
Why it matters
People are living longer, and the cost of living keeps rising. Without a plan it is hard to know whether you are saving enough or spending safely. A good plan replaces worry with a clear income picture.
Questions worth asking yourself
- When would I like to stop, and what would a gentle phase-out look like?
- What does my life cost today, and what will change?
- Which pensions and benefits will I receive, and from when?
- In what order should I draw on my accounts?
- How would a long life, high inflation or poor markets affect me?
- What would care or a health event cost, and how would I pay?
Go deeper
Setting a target income
Start from real spending, separate essentials from extras and allow for one-off costs such as travel or home repairs.
Pension and benefit timing
The age you claim can change your lifetime income. We compare options so you can decide with the numbers in front of you.
Drawing down savings
The order and rate of withdrawals affect both tax and how long money lasts. Flexible spending rules help in poor markets.
Inflation and longevity
Plan for decades, not years. Part of your income should be able to keep pace with rising prices.
Healthcare and care costs
These can be large and uncertain. Insurance, savings and family plans can all play a part.
Tax-deferred and tax-free savings compared
| Feature | Tax-deferred account | Tax-free account |
|---|---|---|
| Tax on contributions | Often reduce taxable income now | Usually made from after-tax money |
| Tax on growth | Deferred while inside the account | Generally not taxed |
| Tax on withdrawals | Usually taxed as income | Usually not taxed |
| Best when | You expect a lower tax rate later | You expect a similar or higher rate later |
| Flexibility | Rules on timing and withdrawals apply | Often more flexible |
Important to know: account names, limits and tax treatment differ by country. Confirm the rules that apply to you.
Three questions behind every retirement plan
How much can I spend?
What yearly income will my savings and pensions support?
What is left?
What will be available to pass on, or to fall back on?
Related solutions
Wealth Building
Saving and investing with clear goals, sensible risk and a long-term view.
Read more →Tax Strategies
Keeping more of what you earn and grow, within the rules.
Read more →Legacy Planning
Making sure what you have built passes on the way you intend.
Read more →Living Benefits
Protection that responds to serious illness or disability while you are alive.
Read more →Life Insurance
Cover that can help your family keep its footing if your income stops.
Read more →Business Owners
Protecting the business, the owners and the plan for what comes next.
Read more →Common questions about retirement planning
How much do I need to retire?
It depends on your spending, other income and how long you expect to live. We build a figure from your own numbers, and our retirement estimator on the Tools page gives a first look.
When should I start planning?
As early as you can, but it is never too late to improve a plan. The closer you are to retiring, the more precise it becomes.
Can I retire early?
Possibly. Early retirement means a longer period to fund and often a gap before pensions begin, so it needs careful testing.
What if markets fall right after I retire?
This is a known risk. Flexible spending, a cash reserve and sensible investment mix reduce its impact.
Do I still need life insurance in retirement?
Sometimes. It can cover debts, estate costs or support a partner. We review it against your goals.
Important to know
The information on this page is general and educational. It is not financial, insurance, investment, tax or legal advice, and it does not take your personal circumstances into account. Product availability and eligibility depend on licensing, location and provider rules. Speak with a qualified professional before you act.
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