RETIREMENT: THE BIGGEST HOLIDAY OF YOUR LIFE

Are you excited about retirement… or secretly terrified of it?
Most people spend decades building their pension pot — but when the time finally comes to use it, they freeze.

If that sounds familiar, this video will change everything.

In this episode, I break down the 5 biggest retirement mistakes we see every day — and exactly how to avoid them — so you can retire with clarity, confidence and ZERO fear.

👇 WATCH UNTIL THE END IF YOU WANT TO:

• Stop worrying about running out of money
• Retire with confidence instead of hesitation
• Understand how much you actually need
• Spend without guilt
• Make your pensions and ISAs work harder
• Avoid tax traps that cost people thousands

⏳ RETIREMENT IS A MINDSET — AND THAT’S WHERE IT ALL BEGINS

Switching from saving to spending is one of the hardest psychological shifts people face.
Your identity, routine, purpose… everything changes at once.
We help clients transition into retirement every day — and sometimes the emotional side takes longer than the financial side.

💥 THE 5 BIG RETIREMENT MISTAKES

1️⃣ Not knowing how much you actually need

Most people on good incomes never track their spending.
I show you how to calculate your true lifestyle cost using a simple 3-month method — starting with a real, untrimmed picture before making any adjustments.
This is essential for deciding when work becomes optional.

2️⃣ Not discussing retirement plans with your partner

Many people don’t talk openly about life after work — how they’ll spend their time, what a typical day looks like, or how seasons affect lifestyle.
Phased retirement, clearer communication and visualising your future together can prevent delays and help you transition smoothly.

3️⃣ Being invested incorrectly (especially in default or lifestyle funds)

A huge number of pensions sit in default lifestyle strategies that automatically move into cash based on an assumed retirement age.
This can be a disaster if:
• You retire earlier or later
• You want to use drawdown, not an annuity
• Your pot ends up sitting in cash for years

We explain why understanding how you’re invested is critical.

4️⃣ Not taking advantage of tax allowances

Your pensions and ISAs are unbelievably powerful when used properly. We cover:
• Pension contributions up to £60,000 p.a. (plus carry forward)
• 25% tax-free lump sum entitlement
• £20,000 ISA allowance per person (£40k per couple)
• Building £100k–£200k+ tax-free pots over time
• Using both personal allowances as a couple for efficient withdrawals

Tax efficiency is one of the biggest differentiators in retirement success.

5️⃣ Relying on one person’s pensions instead of balancing across both partners

This is massive. If everything is in one person’s name, you miss out on:
• Double personal allowances
• Double ISA allowances
• More UFPLS flexibility
• Higher tax-free income options

A well-balanced household makes retirement income smoother, safer and far more tax-efficient.

🎯 THE TAKEAWAY

Retirement success isn’t just about how much you’ve saved — it’s about planning, investing, mindset and using the rules to your advantage.
The more balanced your pensions and ISAs are across both partners, the more tax-free income you can create when the time comes.

Don’t leave your retirement to chance — watch now and take control of your future!

💬 Got a question? Drop it in the comments — I reply to as many as I can!

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/ @claritywealthlimited

About Me:

Richard Platt is the founder, Director, and Independent Financial Adviser at Clarity Wealth Limited, advising clients since 2009.

Clarity Wealth Limited is authorised and regulated by the Financial Conduct Authority 758444

This video is for informational purposes only and aims to explain general investment strategies and financial concepts. It does not constitute financial, investment, tax, legal, or professional advice and should not be used as a basis for making decisions.

The information provided does not consider your individual circumstances, objectives, or financial situation. Investments carry risks, and the value of investments can go down as well as up. Past performance is not indicative of future results.

We strongly recommend seeking personalised advice from a qualified professional before making any financial or investment decisions.
Clarity Wealth Limited accepts no responsibility or liability for any actions taken based on this content