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Pension "Need to knows" in Watford
Nobody wants to consider how much money they'll need in retirement. But a little planning never hurts, especially if it means a more comfortable retirement. We did the research for you and discovered that, on average, people in the East of England:
- Have a pension of £130,395 on average
- Have an 81-year life expectancy
- Should budget for a £17,366 pension shortfall.
These estimates should help you calculate how much money you'll need to retire in Watford. However, if you're concerned that your estimated pension pot won't be adequate, or if you're still unclear, consult a financial expert. We'll help you connect to one in your area for free to help you explore your options.
Property market in Watford
If you’re like most people, you can rely on a State Pension and your personal or workplace pension when you retire. But will these sources be enough to help you afford the retirement you want? Fortunately, if you own a property, you have a lot more financial possibilities.
When the kids have moved out, many Watford residents sell their family homes and downsize. While those that want to keep living in their homes, might phase into retirement or take in lodgers to help finance home improvements. You may also consider products like equity release or annuities, which can offer extra cash for your ideal lifestyle or travel.
According to the latest data from Rightmove, the average house price in Watford is £446,088, up 5% from the previous year. As more people aim to get on the property ladder, this could be an ideal time to speak to an adviser about the value in your home and your retirement income options.
Aldenham
Walking around Aldenham might feel like going back in time. Historic farms and a 16th century hall house are some of the landmarks that give it its timeless charm. Fans of the outdoors will also appreciate Aldenham’s abundant green spaces. Boasting a nature reserve and county park, it’s no wonder that it’s a popular destination for Londoners who want to escape the hustle and bustle of city life.
Hunton Bridge
Scenic waterside walks, listed buildings and easy access to London mean Aldenham is ideal for retirees that want to get away, but still have amenities within reach. The settlement produced malt for hundreds of years. It was also a popular destination for a future king. The Lord of Langleybury, who became King Charles I, regularly stopped off at The Kings Lodge public house after hunting trips. Today, the historic 16th century pub still serves many hungry travellers.
Leavesden
This former agricultural community became a key part of British aviation history. After the Aerodrome was established, its factories built thousands of helicopter engines. Today, Warner Bros owns the site, which is home to a film and TV studio and Harry Potter studio tour. It’s not only history and film buffs that flock to Leavesden. It’s 110 acre country park, excellent transport links and amenities make it ideal for retirees that want to stay active too.
How can we at Local Financial Advice help?
The complimentary adviser matching service offered through Local Financial Advice matches people across the UK with FCA-regulated experts. So, whether you need help on your retirement funds, investments, wealth management or long-term financial advice, we can match you with a regulated financial adviser who will listen to your needs.
Understand how we can match you to local financial advice experts, exactly how our complimentary adviser matching service works, and what our previous clients have said about us via Trustpilot.