This question is fundamental to any form of long term financial planning – read more about the first chapter of the independently written Guide to managing money for the over 55s, and the Podcast series – free thinking finance – that accompanies it.

How do you see your life?

Guide to managing money for the over 55s – Chapter 1

As part of our ambition to free think the options and educate our chosen target market about financial choices, free2 has commissioned an expertly written Guide to managing money for the over 55s.

Written by chartered financial planners, the guide looks at some of the key issues behind financial planning, and one of the first questions posed is: How do you see your life?

For some this may seem like a fanciful or esoteric question, but when looking at financial planning, most financial advisers consider it as fundamental. If you’re to maximise your life experiences in retirement, you will need to think about who you are and where you want to be, and what you want to do in later life.

So, to use the old question we’ve all no doubt faced in job interviews; compared to now, where do you want to be in 5, 10, 15 years’ time?

What do you want to achieve? Do you have a “bucket list”? How much will it cost to do those things? How will you find the money to realise these ambitions? If you don’t have the money now, then is there a way you will find the money in future years?

For example: if you want to travel the world, or restore classic cars, or curate a garden worthy of the Chelsea Flower Show, then how will you do these things and balance family and financial commitments? If your ambition is to retire to a house in the South of France, then what steps are you taking to achieve this?

The guide goes into these sorts of issues and is complemented by the Free thinking finance Podcast series, sponsored by free2 and presented by the writer of the guide. If you’d like to read more about these sorts of issues or listen to the Podcast, then please choose from the following options:

Important Note

Free2 Limited (trading as free2) is an Appointed Representative of RS Consumer Finance Limited (RSCF) which is authorised and regulated by the Financial Conduct Authority (the FCA). free2 is a credit broker, not a lender, and will only offer loans from RSCF – an offer of credit is subject to status and affordability. Example Loan: 60-year-old non-smoker, £30,000 over 10 years with fixed monthly payments of £344.56, interest rate 6.73% and an APR of 6.97%. Terms & Conditions apply.

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