Getting older unfortunately might mean getting used to new limitations.

However, making healthy lifestyle changes can improve your quality of life no matter what age you start at.

So, instead of staying stuck in your ways, read on to discover five easy steps you can take to improve your health later in life.

1. Improve your sleep hygiene

Adults should have between seven and nine hours of sleep every night. If you’re lacking in this department – whether you are sleeping too much, too little, or are struggling with poor quality sleep – then you are at higher risk of problems like obesity and heart disease.

Thankfully, it may be possible to improve your sleep hygiene in a few steps.

First, it’s important to address anything that is interrupting your sleep. Investing in ear plugs to block out noise or blackout curtains to stop light from waking you up can aid you in getting the deep sleep you need without interruptions.

If you haven’t already, it is also vital to train your circadian rhythm. You can do this by waking up and going to sleep at the same time every day, including on the weekends, so you fall asleep faster and wake up feeling refreshed and ready to face the day.

2. Keep moving

Exercise might be the last thing you want to face with aching bones and less energy, especially if you haven’t been active in a while. 

However, even light activity – such as a daily walk – can have fantastic benefits for your mental and physical health.

If you haven’t exercised recently, it’s important to build up your activity levels slowly. Start with shorter and lower intensity workouts, and increase them gradually as you build up your strength and endurance.

Finding an exercise you enjoy could be vital for forming a new habit too. From yoga to dancing to cycling, there is something for everyone if you search hard enough, whether you want to exercise on your own or as a group.

3. Stop smoking

If you’ve been smoking for a long time, you might find the habit harder to kick than other people or wonder what the point is in quitting so late in life.

You might be surprised to discover the health benefits of quitting smoking could improve your quality of life within a few weeks.

The NHS found within a few days of quitting, your sense of smell and taste will improve and you will be able to breathe easier.

After a few weeks or months, you will have extra energy and improved lung function, reducing the symptoms of any cough, wheezing, or other breathing problems you might be facing. And after only one year, your risk of a heart attack halves compared to someone who smokes.

4. Connect with your family and friends

As you get older, you might find it more difficult to regularly meet up with your friends and family, which puts you at a higher risk for social isolation.

Unfortunately, loneliness can have a terrible impact on your mental and physical health, increasing your risk of issues such as:

• Anxiety
• Depression
• Dementia
• High blood pressure
• Weakened immune function
• Heart disease
• Obesity

Luckily, there are lots of things you can do to combat social isolation.

New technology offers us more ways to stay connected than ever. Video calls or using devices such as smart speakers can help you stay in touch with your loved ones when you’re not able to travel to see them in person. 

Of course, in-person social interaction is important too. So, make time to meet up with loved ones and discover ways to meet new people, such as joining a local club or attending events.

5. Challenge your brain

Many people who are worried about their memory later in life turn to brain training exercises such as jigsaws, sudokus, or crosswords.

While these puzzles can help to keep your thinking sharp, there isn’t any conclusive evidence to suggest they can prevent cognitive decline as you get older or prevent diseases such as dementia.

However, a study discovered that challenging your brain by taking part in new experiences could help you maintain and improve your thinking skills.

The researchers encouraged their participants to learn a completely new skill – either digital photography or quilting – and found that they experienced benefits to their memory performance.

Taking up a new skill or challenging yourself to do something different also offers you the opportunity to engage more with the people around you and really make the most of your life too.

While financial challenges often come up when those nearing retirement are asked about their concerns, emotional obstacles could be just as important. A financial plan might include looking at areas like your pensions and investments, but it could help you emotionally prepare for retirement as well.

Here are five ways a financial plan could improve your wellbeing and confidence when you retire. 

1. Financial confidence could ease concerns when you retire 

One of the key concerns that weighs on those nearing retirement is a financial one. According to This is Money in January 2025, more than half of over-55s fear they’ll run out of money later in life. Just a quarter of people believe they have enough to see them through retirement. 

Worrying about running out of money could mean you’re not able to fully relax and enjoy your retirement. A financial plan could help you understand how you might create a sustainable income that will last a lifetime. 

So, taking control of your finances before you give up work could improve your overall wellbeing and mean you feel far more prepared emotionally for taking the next step. 

2. It provides a chance to consider what you’re looking forward to

A financial plan doesn’t just focus on your assets, but what you want to get out of life. A retirement plan is the perfect opportunity to consider what you’re looking forward to in retirement and address any apprehensions you might have. 

You might start by setting out what your ideal week in retirement would look like – are you keen to see your family and friends more now you’re not working, or would you like to join a class to develop a hobby?

While you’re doing this, you might discover concerns as well. For example, some retirees may worry about feeling lonely if they enjoy the social aspect of work. As a result, they might ensure their retirement income provides enough disposable income to regularly go out with loved ones or try an activity that allows them to meet new people. 

3. Financial security could mean you’re able to enjoy big-ticket expenses 

It’s not just the day-to-day retirement lifestyle you might be looking forward to, there might be one-off experiences or purchases that you’d like to spend some of your money on.

If you love to explore new places, you might dream about taking an extended holiday to exotic locations now you’re no longer tied to work. Or, if you’re a keen gardener, you might want to explore purchasing an extra plot of land to turn into an outdoor oasis. 

Whatever your big-ticket plans, incorporating them into your financial plan could help you understand what’s possible and get you excited for the future. 

4. A financial plan could address retirement trepidations 

Worrying about your future could dampen retirement celebrations. So, addressing these concerns and understanding how you might create a safety net could take a weight off your shoulders. 

As you near retirement, you might worry about how your partner would cope financially if you passed away first, or how you’d fund care services if you needed support.

While a financial plan can’t prevent some things from happening, it could allow you to identify areas of concern and take steps to reduce the effect they could have. So, in the above cases, you might purchase a joint annuity with your pension so you know your partner would continue to receive a reliable income if you passed away and set aside some money to act as a care fund.

5. Working with a financial planner could allow you to take a hands-off approach 

Managing your finances in retirement can be very different to handling your household budget when you are working. You might not receive a regular, reliable income, and, for retirees, the change can be difficult to manage or they simply want to take a hands-off approach.

Working with a financial planner means you can rely on someone else to handle your finances on your behalf and inform you if changes are needed. 

It could lead to a happier retirement that allows you to focus on living the retirement lifestyle you’ve been looking forward to. 

Contact us to talk about how to achieve your desired retirement lifestyle 

If you’re nearing retirement, get in touch to talk about what you’re looking forward to and concerns you might have. We could work with you to create a financial plan that gives you confidence and means you’re able to focus on what’s really important – enjoying the next chapter of your life. 

Please note: This blog is for general information only and does not constitute financial advice, which should be based on your individual circumstances. The information is aimed at retail clients only.

A pension is a long-term investment not normally accessible until 55 (57 from April 2028). The fund value may fluctuate and can go down, which would have an impact on the level of pension benefits available.  

For many pensioners, the State Pension provides a foundation to build their retirement income. Whether you’re already claiming the State Pension or it’s still some years away, here’s what you need to know in 2025/26. 

In the 2025/26 tax year, you can claim the State Pension from the age of 66. However, the age will gradually start to increase from 6 May 2026 to 67, and it’s expected to rise further in the future. 

You won’t automatically receive the State Pension when you reach this age – you need to claim it. You should receive a letter a few months before you reach the State Pension Age and then you can apply online.

In some cases, you might decide to defer claiming the State Pension. For example, if you’re still in work and the State Pension income could push you into a higher tax bracket, you may delay claiming it. If you choose to do this, you’ll receive a higher income from the State Pension. 

The full new State Pension will provide a weekly income of £230.25 in 2025/26

How much you could receive from the State Pension is based on your National Insurance contributions (NICs) during your working life.

To be eligible for the full new State Pension, you will usually need to have 35 qualifying years on your National Insurance (NI) record. Qualifying years may include periods where you’re working and paying NICs or you may be entitled to NI credits if you’re unemployed, ill, a parent, or a carer. 

If you have between 10 and 35 qualifying years on your NI record, you’ll normally receive a portion of the new full State Pension. So, it’s important to be aware of your NI record before you reach State Pension Age so you can accurately forecast how much you’ll receive.

One of the reasons the State Pension is valuable is that it increases each tax year. As the cost of goods and services typically rises, this could help to preserve your spending power in retirement.

Under the triple lock, the State Pension increases by the highest of the following three measures:

• Inflation
• Wage growth
• 2.5%

For the 2025/26 tax year, the triple lock means pensioners who receive the full new State Pension will benefit from a 4.1% boost to their income taking it to £230.25 a week, or around £11,970 a year. 

Understanding when you could claim the State Pension and how much you might receive is often important for creating a financial plan that suits your goals. You can use the government’s State Pension forecast tool, but keep in mind both the State Pension Age and how the income is calculated could change in the future. 

Filling in National Insurance gaps could boost your State Pension income 

As your NI record affects your State Pension income, you might benefit from filling in gaps if you don’t have the 35 qualifying years you need to receive the full amount.

So, if you’ve taken a career break in the past, you may benefit from checking your NI record now. The cost of buying a full NI year is usually £824 but may vary depending on the year you’re topping up and your circumstances. If you paid NI for a portion of the year you’re topping up, the cost will typically be lower.

Before you fill in any gaps, consider your long-term plans. In some cases, it won’t make financial sense to fill in the gaps. For example, if retirement is still several years away, you might eventually have enough qualifying NI years without making voluntary payments. 

You only have until 5 April 2025 to voluntarily buy missing NI years between 2006 and 2016. After this date, you’ll only be able to fill in gaps from the last six tax years. 

The State Pension could form a foundation for your retirement income 

While the full State Pension might not provide enough income to retire comfortably on, even after the 2025/26 increase, it may be a useful foundation to build on. 

Having a reliable income could offer peace of mind and mean you’re confident that you can pay for essential outgoings.

Many retirees will use other assets, from workplace pensions to savings and investments to supplement the income the State Pension delivers. Bringing together these different income streams in a retirement plan could help you understand how to create a sustainable income that meets your needs. 

Contact us to talk about your retirement income

If you have questions about how to create an income in retirement to supplement your State Pension, please get in touch. We could help you manage your pension, whether you’re ready to start making withdrawals or plan to continue working for several years. 

Please note: This blog is for general information only and does not constitute financial advice, which should be based on your individual circumstances. The information is aimed at retail clients only.

A pension is a long-term investment not normally accessible until 55 (57 from April 2028). The fund value may fluctuate and can go down, which would have an impact on the level of pension benefits available. Past performance is not a reliable indicator of future performance. 

The tax implications of pension withdrawals will be based on your individual circumstances. Thresholds, percentage rates, and tax legislation may change in subsequent Finance Acts.  

Levels and bases of, and reliefs from, taxation are subject to change and their value will depend upon personal circumstances. Taxation and pension legislation may change in the future.

A cashflow model is a valuable tool that lets you understand how the value of your estate and individual assets might change in the future. But, to get the most out of it, you need to look beyond the numbers. 

A cashflow model provides a graphical representation of all your assets, such as investments, property and pension, as well as income, expenditures and debt. It forecasts how each of these will change over time.

To start, you’ll need to input information into a cashflow model, such as the value of your assets now, your household spending, or how much you’re contributing to your pension.

To calculate long-term changes, you may need to make certain assumptions too. You might factor in regular wage increases or the projected returns of your pension.  

While the outcomes of a cashflow model cannot be guaranteed, it could provide you with a useful overview of your finances and how they might change throughout your lifetime.

With so much data, it’s easy to get bogged down in the numbers. Yet, moving past the figures could help you turn goals into reality and prepare for the unexpected. 

Combining a cashflow model with your goals could help form an effective financial plan 

A cashflow model provides a snapshot of your finances, and financial planning can help tie this to your goals. 

When you think about why you’re saving through a pension, it’s probably the lifestyle you want to enjoy that comes to mind, rather than the figure you need to save.

So, you might think “I want to retire at 60 and maintain my current lifestyle” rather than “I want to save £500,000 in my pension”.

As a result, it’s important to think about what your lifestyle goals are when using a cashflow model if you want to get the most out of it. When you stop working, your outgoings often change, so in this scenario, you might calculate how much you’d need to maintain your current lifestyle.

You can then add this information to the cashflow model and see what would happen if you withdrew this income from your pension from the age of 60 – is there a chance your pension could fall short? Could you retire sooner and still be financially secure? 

By combining your goals with a long-term view of your finances, you can work with your financial planner to create an effective financial plan that’s tailored to you.

A cashflow model could identify potential weaknesses in your current financial plan 

As well as goals, your cashflow model can be used to help you address concerns you might have about your financial security and events outside of your control. 

For example, if your family rely on your income, you might worry about how you’d cope financially if you were unable to work. Updating the information used to create the cashflow model could help you understand the short- and long-term impact.

You might find you have enough saved in an emergency fund to cover six months of expenses before you’d have to use other assets.  So, to create an additional safety net, you may take out appropriate financial protection that would begin to pay a regular income after six months.

Taking an extended break from work may affect long-term goals as well. You might halt pension contributions, which could affect your income when you reach retirement, or use savings that had been earmarked for another use. 

Much like how a cashflow model could help you understand your goals, it can also be useful when you want to identify risks or weaknesses in your current financial plan. 

A cashflow model could help you make informed financial decisions now 

One of the benefits of cashflow modelling is that it may identify potential financial gaps that could affect your future. Being aware of these sooner often means you’re in a better position to take steps to bridge the gaps or adjust your plan.

Let’s say you discover there could be a potential shortfall in retirement because you aren’t contributing enough to your pension. If you identify this 20 years before you plan to retire, a small, regular increase to your contributions could be enough to keep you on track without making changes to your retirement plans. However, if you don’t realise until you reach the milestone, you may have fewer options. 

Alternatively, if you find you’re in a better financial position than you expected, you might want to adjust your lifestyle now or update long-term plans.

After finding out you’re comfortably on track to have “enough” saved for retirement, you might decide to start building a nest egg for your child to provide a helping hand when they reach adulthood. If you’re confident in your financial future, you might also feel secure enough to increase your disposable income now and start doing more of the things you enjoy. 

Contact us to talk about your long-term finances

Please get in touch if you’d like to talk about creating a long-term financial plan that focuses on your aspirations and addresses concerns you might have about the future.

Please note: This blog is for general information only and does not constitute financial advice, which should be based on your individual circumstances. The information is aimed at retail clients only.

A pension is a long-term investment not normally accessible until 55 (57 from April 2028). The fund value may fluctuate and can go down, which would have an impact on the level of pension benefits available. Past performance is not a reliable indicator of future performance. 

The Financial Conduct Authority does not regulate cashflow planning.