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Retirement with no problem. How to make sure your path to retirement is a smooth ride.

How can you ensure a comfortable retirement with no problem?

Retiring with no problem will require you to have a clear vision of what good looks like. To start planning the steps that you are going to need to take to get you there. But most importantly, take the action early and ongoing to budget, save, invest and keep reevaluating if you are still heading in the right direction and at the right pace.

If you can do the above ideally early and often, you will have a great chance of a comfortable retirement.

However, letting things drift is a surefire way to a very uncertain and likely uncomfortable lifestyle in your older age. You just have to choose which one you want.

Read on to hear how you can take steps to reach your ideal, comfortable, and dignified retirement with no problem.  

Best way to save for retirement UK
Where did you sau you were trying to get to?

What do YOU mean by retirement?

Steven Covey’s first habit of highly successful people and even people hoping to retire one day is beginning with the end in mind. 

So, before you go racing off looking for the next big thing to make you a million overnight, spend a little time figuring out what you want retirement to look like.

  • Is it going to be a full stop!
  • Will you retire from one thing to another?
  • Full-time work to part-time
  • Endless holidays
  • Education

Having an idea of what you would like to do will help you figure out how much it will take to make it happen.

If you have nothing in mind or are thinking of a full stop, you might well find that it will mean the end of all meaningful projects for you that it doesn’t look that appealing.

Without a north start guiding you, or a lifestyle that really motivates you, you iht well find you can’t be bothered to make it happen.

And guess what’s going to happen if you don’t make a plan? Not much.

Figure out what a good retirement looks like to you.

retirement with no problem
Just the right price

How much might YOUR type of retirement cost?

Once you have an idea of what you are aiming for, you can start costing it up.

  • Holidays
  • Education
  • Time with family
  • Volunteering
  • Going out
  • Clothes
  • Sports and hobbies
  • Earning money is some sort of capacity – working part-time or differently

This might well be more of an art than a science, but it gives you more clarity on what you are trying to achieve.

If you think, life might well look like it does now, but without the full-time work, you can do a quick calculation to work out what sort of fund you might need.

Let’s say you spend £40k a year now, and you pretty much like that lifestyle.

Once you are not working, some costs might go up, and some might go down, but for a planning assumption, you say £40k a year is what you are after.

So, a quick way to figure out how to generate £40k a year is to times it by 25. This is often referred to as the 4% rule of thumb.

25x40k=£1million. If you had £1m invested in the global markets, it could reasonably be expected to grow by 4% a year for 30 plus years.

4% of £1million is £40k – tadaahh

These are all assumptions, and some people say a more conservative 3% rule of thumb should be used. Either way, this is a simple way to get a rough idea of what you might need in investments.

 And or

You can also figure out what might generate you a £40k income in retirement, including one or more of these:

  • State pension
  • Private pensions
  • Savings and investments
  • Part-time work and or consultancies
  • Rental property
  • Businesses online and physical
  • Physical and digital assets

With Multiple income sources, some that you fully retire from and some that continue with not much work, might fund the retirement you are looking for.

Is 100k in savings a lot
Finding the right way

Join up the dots

Once you know where you are trying to get to, you can work backwards from there to figure out how you will reach it.

  • Is it the amount of money you need?
  • Is it a lifestyle you are after?

How would you go about reaching what you want? Can you deconstruct how you would get there?

Do you need to

  • Save more and more often
  • Improve your skills and education
  • keep yourself fit and healthy
  • Learn that language
  • Meet the right person or people
  • Create more income

How might you take action on these every day?

And when you are thinking of the actions you need to take, what are some of the roadblocks you will face, and how will you overcome them?

  • Take action every day, even if just a little.
  • Look for help
  • Learn what to do
  • Automate savings and investing
  • Get a coach to help you think and plan it out (by the way, this is what we do)

Figuring out what needs to happen and taking ownership over this will make retirement with no problem a lot easier to manage and achieve.

Owning the process will also help you figure out when or if you are drifting off course.

Having a baby with no money

Start early or try to catch up.

Like with many things in life, starting early makes it a lot easier.

The reason is compounding.

The more time you have, the more time your money, skills and good habits can compound in your favour. The opposite is true for your negative traits also, i.e., no money compounds to no money.


  • Planning
  • Saving
  • Investing
  • Developing your skills
  • A business
  • Multiple income sources

Yes, you might well wish you did this 20 years ago, but the next best time is today, and the worst time is tomorrow.

Starting now is going to be a lot better than waiting for the perfect conditions.

If you have left it late, then at least start now.

If you want some help with this, find out more here

How much does a single person need to retire

Save for the retirement YOU want

Are you serious when you think saving 2%, maybe 5% a year, will be enough for retirement with no problem?

If you do, then you might need to get more familiar with a calculator.

If you are looking to retire in dignity and comfort with options, you will need to up you’re saving and investing to a level where you can feel it at least a little.

The sooner you do this, the less painful it will be.

There will undoubtedly be many pressures on your income throughout life, but the fact remains the biggest bill you need to prepare for is when you are no longer earning a salary, i.e. in retirement.

Don’t skip on saving up an emergency fund – 3 to 6 months’ worth of living costs. It’s highly like going to bail you out of numerous issues in a long life.

Don’t skip on saving in your workplace pension, which is likely to be your greatest source of FREE money.

Don’t save or invest manually, as you will be your weakest link. Automate everything to do with saving and investing. And up the amounts every year.

Retirement without a decent income is going to be scary.

So, save for the retirement you want, not just the one you think you will accept after 40 plus years of work.

money calculator UK

Track the right numbers

The way to know if you are making any progress on your journey to a comfortable retirement is to keep track of the right numbers.

The right numbers mean the data that is relevant to you to reach what good looks like.

It might be financial or non-financial information.

IS your data heading in the right direction – remember, everything compounds over the long term for good or bad.

You could be tracking

  • Your net worth – everything you owe vs own. Is this number going up and fast enough?
  • Your income generating assets vs your liabilities.
  • Your fitness, weight or other health indicators
  • Your skills and knowledge in whatever you want to be good at.
  • Your relationships and friendships.

By tracking, you can at least get an indication are things looking like they are ok.

Maybe it’s a spreadsheet; maybe it’s some form of app. Whatever it is, track the numbers that matter to you.

Best way to save for retirement UK

Keep reviewing YOUR plan

Once you know where you want to go, where you are starting from and at least a good guess at the actions you need to take, you just need to keep monitoring the plan.

When a plane flies from point A to point B, the pilot initially sets an overall destination, but throughout the flight, the plane/pilot makes hundreds or thousands of minor and major course corrections to ensure the plane lands in the right place.

Oh, and lands safely! A crash landing in the right place is probably going to be sub optional for all involved.

Here’s where you are just checking in with yourself. Is what you thought you wanted still what you want now?

Things change for the better and worse; what you wanted last year may not be what you want now.

  • Are you spending more than you thought you would?
  • Have your investments behaved ok or not?
  • Have there been significant changes in your life that need a rethink?

At least yearly reviews of the plan will help you stay on the right course and make the needed adjustment to stay on course.

These reviews will help you keep your confidence in the plan and your actions.

FAQ’s: Retirement with no problem

What should I think about for retirement?

What does good look like for you?
What do you think that might cost?
Where do you think the money for that will come from?
Work backward from the destination and figure out the actions you need to take.

What should you not do in retirement?

End all meaningful projects. This is an excellent way to die quickly. You need something to do that keeps you physically, intellectually, emotionally, and socially active.
Death comes to find those that have nothing to do.
Spend like there is no tomorrow – you might well live a long time.

What do I really want to do in retirement?

Finding the answer to this question will make reaching it a lot easier.
Once you have an idea of what good looks like, you can start a plan to get there.
What meaningful projects do you want to do when you have more free time?
What are you good at?
What do you enjoy doing?
What does the world need that you could provide?
What might you get paid for if you would still like to earn an income?

What is a good monthly retirement income?

That all depends on what good means to you.
What do you want to do in retirement, and what do you think will cost?
This WHICH report hints at a few ideas for income levels. £26k being the supposed magic number.

What is the 4% rule in retirement?

The 4% rule in retirement is also often referred to as the safe withdrawal rate. Over the long term, it is thought to be a safe amount of money to withdraw from your investments while keeping the investments intact.
The 4% rule is a rough tool for figuring out how large your investment funds might need to produce the desired income.
Let’s say you want to earn £40k a year. £40k / 4% = £1million. £1m is the fund size you need to generate £40k. £1million growing at 4% a year would produce £40k.
Just remember, it’s a planning tool to help you get to a broad figure; whether it’s right for you in all circumstances may change over time.

How do you stay busy when retired?

Find something you’re good at
Find something you enjoy doing
Find something the world needs
Find something that people will pay you for (or do it for free if you want to)
All of these might help you find something meaningful for you to do.

Dream your best retirement

Summary: Retirement with no problem.

What do YOU mean by retirement?

Figure out what good looks like to you.

The who, what, where, how and why of your life in retirement.

If you design it, it should have a good chance of being what you want.

Guess what everyone else has planned for you – not much.

How much might that cost

Now you know what you want, you can make educated guesstimates at what that might cost.

When you know that, you can figure out where the money for that will come from and whether that will be enough.

Join up the dots

Once you have the above two, you can start to figure out the steps you need to take.

Save and or invest more, create more income, reduce your costs.

Get help in putting a plan together.

Start early or catch up

Yep, you could have done this in your 20’s but hey ho, here we are.

Crack on with it NOW.

Start saving, investing, make sure you are signed up for your works FREE money offer, i.e. a pension.

Educate yourself on good financial behaviours.

Save for the retirement you want

Get serious with the task in hand. You are saving for the most expensive thing in your life.

Potentially a long a dignified period with a lot less income

If you have left it late, it might well take a lot heavier lifting.

Don’t be cheap on your future self; you will not appreciate your younger self, who took no action when the warning lights were flashing.

And remember, you are worth it.

Track the right numbers

Collect and analyse the numbers that have meaningful or you.

Whether it’s your net worth heading in the right direction, your weight, your skill level in a chosen career, sport or business.

Whatever you are measuring will get done and compound over the long term.

Keep reviewing the plan

Making sure you are still heading in the right direction is crucial to having confidence in your plan.

Sometimes you might drift off plan for a nice detour, new adventure or new direction, but you don’t want to be drifting off to an unwanted destination.

Land with style and grace in the right place for you.

A crash landing anywhere is not going to be pleasant.

Oh, and by the way, the planning process is what we do here at Financially Happy, taking you from where you are to where you want to be. Find out more here

Anyway, those are my thoughts on retirement with no problem; let me know yours in the comments below.

Need a helping hand?

If you’ve made it this far, congratulations! You’re already taking steps towards a healthier financial future. But maybe you’re feeling a bit overwhelmed. Maybe the of budgeting, saving, and investing still makes you break out in a cold sweat. Don’t worry, you’re not alone, and help is available.

At Financially Happy Money Coaching, I understand money isn’t just about numbers. It’s about emotions, behaviours, and life choices. That’s why we’re here to help you take the stress out of money and build wealth that aligns with your values and lifestyle.

Whether you’re just starting out on your financial journey or you’re looking to take your finances to the next level, we’re here to guide you every step of the way. I’ll help you understand your financial behaviours, set realistic goals, and create a personalized plan to achieve those goals.

So, why wait? Start your journey towards financial happiness today. Remember, the best time to start was yesterday. The second best time is now.

Click here to schedule your consultation and let’s make your money work for you, not vice versa. 💪💰

Remember, financial freedom isn’t a destination; it’s a journey. And every journey is easier when you have a guide. So, let’s embark on this journey together and create a financially happy future. 🚀💸

📚 Financial Freedom Resources

  1. The Ultimate Guide To Building Your Savings to $100,000! 📘 is a transformative book that equips readers with principles, strategies, and the mindset 🧠 needed to reach a $100,000 savings goal 💰. It’s a journey towards financial freedom 🚀, challenging beliefs 🤔, embracing new habits 🔄, and overcoming obstacles 💪.
  2. How to Manage Your Finances: Your Guide to Financial Freedom 📘 is a comprehensive resource packed with practical advice on budgeting 💰, investing 📈, reducing debt 💳, and building wealth 💎. It’s an essential guide for anyone, novice or experienced, aiming to take control of their financial future and achieve financial independence 🚀.

Remember, self-study is a powerful tool for life and financial transformation. Happy reading! 🎉

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