Episode 6

S2 Ep6: Getting Ready for Retirement

In Episode 6 of the ‘Key Life Stages’ season, Simon and Bex discuss various points to consider in connection with getting ready for retirement.

Some key points covered in this episode include the following:

  • Simon provides a brief overview of planning for retirement and explains why it is important to prepare well for that stage of life. [04:06]
  • The first, and most obvious, step is to build up your State Pension. [06:49]
  • The next key factor is to increase your pension(s), whether company pension schemes or personal pensions. [08:08]
  • The third main strategy to adopt is to make a conscious decision to decrease pre-retirement expenditure in a sensible and considered manner. [09:24]
  • Simon highlights the benefits to be gained from saving money in the final years before retirement and putting it into a pension. [12:06]
  • Simon acknowledges that there are many different factors that can affect people’s priorities and actions as they get ready to retire. [14:55]
  • Simon suggests that the best way of being able to retire at your preferred point in time is to set up a budget with that goal in mind. [16:55]
  • Simon concludes by listing five additional points, aka ‘nuggets of wisdom’, to consider when preparing for retiring: (1) the significance for couples of discussing retirement matters with each other beforehand [19:33]; (2) the benefits of including all relevant factors when making affordability calculations [20:36]; (3) the need to consider various principles and practicalities when considering leaving an inheritance [21:12]; (4) the advantages of taking a flexible approach towards ‘retirement goals’, recognising the benefits of putting some plans into effect before retirement itself actually takes place [21:32]; (5) the importance of considering being generous and planning how and when giving can occur during retirement. [22:38]
  • If you would like to contact us with some feedback, questions or requests, please do so via whereyourtreasureis@freerangepodcasting.co.uk (email) or @whereyourtreasureispodcast (Instagram). The next life stage episode will be devoted to the topic of ‘Retirement’ itself. [22:56]

This show has been brought to you by Free Range Podcasting.

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Where Your Treasure Is...
Conversations about faith and finance with Chartered Financial Planner of the Year, Simon Glazier

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Simon Glazier

Simon is a forty(something), average height, mostly bald, Christian, husband, father of three, bad taste in fashion, movie-loving, not-very-musical-but-likes-to-sing, outdoor type, board-game playing, dancing, acting (would love to get back into amateur dramatics), kind of guy.

He also happens to be a very experienced, qualified and award-winning Financial Planner (and not just any award - the UK Chartered Financial Planner of the Year Award!).

After 20+ years in the finance profession and having worked for one of Aberdeen and the UK’s best financial planning firms (they also won awards...) he started Stewardship Wealth on the 1st April 2018. His goal is to build a business that would delight clients, gather a team of fun to work with people, and raise money for charity, in particular the Church he is a part of. He has committed to giving away at least 10% of all the income of the business to charity, even before he pays himself!

He's been part of a growing Aberdeenshire church for 25+ years, during which time he as acted, sung, played the tambourine (sad, but true), served in and helped lead the children's ministry, helped run several Marriage Courses, Parenting Courses and Money Courses, been a Treasurer and Trustee for over 13 years and has helped lead a small group based bible study for as long as he can remember.

If you’re ever up for a deep and meaningful conversation about faith and finance...or a strategy based board game...then he’s your man.

P.S. He also has a collection of over 60 Monopoly Board Games, owns a Bowler Hat and once represented England in the World Folkdance Festival as a Morris Dancer...!
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Bex Elder

Bex Elder is a freelance translator and writer based in the North East of Scotland. While Bex is by no means a financial expert (unlike her more knowledgeable co-host), her love of a good chat, and sometimes debate, led her into podcasting. Bex splits her working hours between her own business and working a day a week for her local church as the Assistant Youth Pastor. Bex loves running, getting lost in a good book, drinking copious amounts of tea and never says no to a macaron.