It’s natural to feel apprehensive about planning for your future. Retirement is a huge life change, and with so much information in front of you it can be difficult to know where to start.

But even doing a small amount of planning for your life after work could improve the retirement outcome you get, and the retirement lifestyle you’re able to have.

Here’s why, and some of the other benefits of planning ahead:

You’re likely to lead a better retirement lifestyle

If you have a clear picture of the retirement you want, you’ll be more likely to achieve it. You wouldn’t get in your car without having a destination in mind, would you? And without an idea of where you’re going, you’d find it very difficult to plan your route, or think about what you’ll do when you get there.

The same goes for your retirement - a small amount of planning goes a long way. And when you start planning, you’ll be surprised at how quickly you start to build up a picture of your life after work. If you can picture the retirement lifestyle you want, it’ll be much easier to steer a clear course to get there.

You can build up your financial confidence

If you have an idea of the retirement lifestyle you want, the chances are with that goal in mind you’ll make better financial decisions to reach it.

As you start to make better decisions, research shows you’re likely to feel more confident about your finances. And as time progresses you’ll gain more financial experience, and your financial knowledge is likely to grow as a result. Taking small steps with planning for life after work could really pay off in the long run. 

You may see a positive impact on your mental health

Retirement is an enormous milestone, and it should be an exciting time. But if it’s causing you more worry than excitement you’re not alone. As the cost of living continues to soar, many of us are anxious about our finances. Doing a small amount of planning could be key to easing some of that anxiety.

Research proves that the more planning you do, the more comfortable you’re likely to feel about your future, and even your existing financial position. If the thought of retirement is causing you sleepless nights, knowing you’ve started making plans for your life after work could be an answer to getting your 8-hours rest.

To help you prepare for your future, read our simple guide to retirement planning The power in preparing for your future part 1: Your step-by-step guide to planning ahead.

Help is at hand, if you need it

You may want to take expert help before making any changes to your pension. Using an adviser can be expensive, so make sure you read all of the free information available at MoneyHelper and Gov.uk.

If you’d like professional advice on your financial decisions, you might benefit from speaking to a financial adviser. In order to operate, financial advisers must be authorised by the Financial Conduct Authority (FCA), so make sure you check who you’re dealing with.

Liverpool Victoria (LV) is the chosen partner to give Fund members financial advice. This includes those in the CARE section, as well as the 1970 and 2007 sections. LV is regulated by the FCA, covers all areas of pension and financial advice and has a dedicated team, with specific knowledge on the Fund.

Your Fund member website is packed with helpful planning tips and useful information about your pension, including a list of trusted pension experts and professional advisers.