How To DIY Invest for Retirement

If you're not in a position to enlist professional help, here are some pointers to help you on your DIY investing journey

Holly Cook 15 November, 2013 | 8:15AM

These days one can expect to spend anything up to 30 years in retirement, and that's assuming you work until your seventh decade. And while many may have wistful ideas of the gardening, travelling and other hobbies they'll undertake on departing the rat race, all too many have yet to set in motion a concrete plan for ensuring these luxuries will be financially feasible.

Joining up the dots between your current savings rate and your desired future lifestyle is a difficult process and one that will benefit from the educated eye of a financial adviser. Should you feel that you're not in a position to enlist that help, here are some pointers to help you get your retirement plan on the straight and narrow. 

What Does Retirement Look Like?

Your situation and your dreams may well change but it's important to have an idea of what it is you're aiming for. Does your imagined retirement involve a quieter life or a more active life than you currently need? Do you see yourself endlessly exploring the world or quietly turning your garden into the model of self-sufficiency? Does retirement mean turning your back on work or will it present an opportunity to develop a business idea you've previously lacked the time to focus on? Only you can answer these questions and though your answers may change over time, the aim is to attach a broad price tag to your dreams. 

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The information contained within is for educational and informational purposes ONLY. It is not intended nor should it be considered an invitation or inducement to buy or sell a security or securities noted within nor should it be viewed as a communication intended to persuade or incite you to buy or sell security or securities noted within. Any commentary provided is the opinion of the author and should not be considered a personalised recommendation. The information contained within should not be a person's sole basis for making an investment decision. Please contact your financial professional before making an investment decision.

About Author

Holly Cook

Holly Cook  is Manager, Morningstar EMEA Websites

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