8 questions to ask before you retire: How to prepare for retirement

You have probably been saving into a pension for most of your working life, but how do you actually prepare to retire?

Woman in her early 60s sitting outside a coffee shop thinking about retirement
(Image credit: Betsie Van Der Meer via Getty Images)

Everyone has a vision of what they would like their retirement to look like. It could include holidays abroad, taking up new hobbies, or spending more time with family and friends. But what do you actually have to do to access your pension, and what decisions do you need to make before you get there? In other words: how do you prepare for retirement?

You might feel as though you are facing a thousand questions as you approach retirement age. First of all, when can you actually afford to retire and what kind of lifestyle will your pension pot be able to fund?

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Katie Williams
Staff Writer

Katie has a background in investment writing and is interested in everything to do with personal finance, politics, and investing. She enjoys translating complex topics into easy-to-understand stories to help people make the most of their money.

Katie believes investing shouldn’t be complicated, and that demystifying it can help normal people improve their lives.

Before joining the MoneyWeek team, Katie worked as an investment writer at Invesco, a global asset management firm. She joined the company as a graduate in 2019. While there, she wrote about the global economy, bond markets, alternative investments and UK equities.

Katie loves writing and studied English at the University of Cambridge. Outside of work, she enjoys going to the theatre, reading novels, travelling and trying new restaurants with friends.