So, you've booked an appointment with a financial adviser. Whether you're five years away from retirement or just starting to think about it, meeting with a professional can provide you with clarity, confidence, and a solid plan.
But how can you make the most of that meeting? Here’s a handy guide to help you prepare—and to ensure your adviser can give you the best possible advice tailored to you.
1. Gather Your Pension Information
We’ve all had that job we barely remember, let alone the pension that came with it. But every little pot counts.
Before your meeting, try to collect as much information as you can about your current pensions, as well as any you might’ve paid into in the past. Check old employment contracts, or just write down the names of your previous employers. Even if you’re not sure whether a pension existed, your adviser may be able to use pension tracing services to help track them down.
2. Think about Your Retirement Goals
It’s time to have a think: what does retirement look like for you?
Would you like a specific income target in retirement? Are you aiming to travel, support your children, leave an inheritance, or simply enjoy a comfortable life with a guaranteed income? Maybe it’s all of the above—and that’s absolutely fine.
Your goals don’t have to be set in stone, but having an idea of what you want will help your adviser create a plan that actually fits your life, not just your numbers.
3. Understand Your Monthly Budget
It might not be the most thrilling part of retirement planning, but knowing how much you need to live on is crucial. Try to break down your expenses into two main categories:
But how can you make the most of that meeting? Here’s a handy guide to help you prepare—and to ensure your adviser can give you the best possible advice tailored to you.
1. Gather Your Pension Information
We’ve all had that job we barely remember, let alone the pension that came with it. But every little pot counts.
Before your meeting, try to collect as much information as you can about your current pensions, as well as any you might’ve paid into in the past. Check old employment contracts, or just write down the names of your previous employers. Even if you’re not sure whether a pension existed, your adviser may be able to use pension tracing services to help track them down.
2. Think about Your Retirement Goals
It’s time to have a think: what does retirement look like for you?
Would you like a specific income target in retirement? Are you aiming to travel, support your children, leave an inheritance, or simply enjoy a comfortable life with a guaranteed income? Maybe it’s all of the above—and that’s absolutely fine.
Your goals don’t have to be set in stone, but having an idea of what you want will help your adviser create a plan that actually fits your life, not just your numbers.
3. Understand Your Monthly Budget
It might not be the most thrilling part of retirement planning, but knowing how much you need to live on is crucial. Try to break down your expenses into two main categories:
- Essential costs – Rent or mortgage, utility bills, groceries, transport, etc.
- Lifestyle/discretionary spending – Holidays, meals out, hobbies, gifts, Netflix, and the rest.
Think about how these might change in retirement. Will your mortgage be paid off? Will you be spending more time (and money) travelling? Your adviser can work with you to make realistic assumptions—and adjust them as your circumstances evolve.
4. Bring a List of Your Financial Assets (Pensions Are Just Part of the Picture)
Retirement planning isn’t just about pensions. It’s about your full financial picture.
Bring along details of your:
4. Bring a List of Your Financial Assets (Pensions Are Just Part of the Picture)
Retirement planning isn’t just about pensions. It’s about your full financial picture.
Bring along details of your:
- Savings accounts
- Investments (ISAs, shares, etc.)
- Property or rental income
- Any work benefits or final salary schemes
- Potential inheritance (if known)
Even if you're not sure whether something is relevant, bring it along—it’s better to have too much information than not enough.
5. Consider Your Retirement Spending Plans
It’s worth thinking ahead about the kind of one-off expenses you might have in retirement.
Want to renovate the kitchen? Buy a new car? Treat the grandchildren? Go on that trip-of-a-lifetime cruise? These expenses can—and should—be part of your plan. Your adviser can include them in your cashflow forecasting to see how they’ll affect your income over time.
6. Expect the Unexpected (And That’s OK)
No matter how thorough your plan is, life has a way of surprising us. That’s why an ongoing relationship with your adviser is key. Whether the markets wobble, your circumstances change, or something unexpected happens, your adviser can help you adjust your plan to keep things on track.
A Final Thought: You’re Not in This Alone
Retirement planning can feel overwhelming, but you’re not expected to have all the answers. That’s what your financial adviser is here for.
By preparing ahead of your meeting—bringing the right documents, thinking about your goals, and being open about your finances—you’re setting the stage for meaningful advice that’s tailored just for you.
And most importantly, you’ll leave that meeting knowing you’ve got someone in your corner, helping you navigate the twists and turns of retirement with confidence, clarity, and a bit of peace of mind.
Please note: The value of investments and the income from them can fall as well as rise. You may not get back the amount originally invested. Past performance is not a reliable indicator of future performance. Pensions are a long-term investment. The tax treatment of pensions depends on individual circumstances and may be subject to change in the future.
This article is for information purposes only and does not constitute financial advice. You should seek independent financial advice before making any decisions about your pension or investment options.
Kat – IFA/Director
