{"id":653271,"date":"2026-06-23T02:53:09","date_gmt":"2026-06-23T02:53:09","guid":{"rendered":"https:\/\/www.newsbeep.com\/uk\/653271\/"},"modified":"2026-06-23T02:53:09","modified_gmt":"2026-06-23T02:53:09","slug":"im-58-and-want-to-retire-in-two-years-should-i-move-my-pension-into-cash","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/uk\/653271\/","title":{"rendered":"I’m 58 and want to retire in two years. Should I move my pension into cash?"},"content":{"rendered":"

In our weekly series, readers can email in with any questions about\u00a0retirement and pension<\/a>\u00a0savings to be answered by our expert, Rachel Vahey, head of public policy at investment platform AJ Bell. There is nothing she does not know about pensions. If you have a question for her, email us at\u00a0money@theipaper.com.<\/a><\/p>\n

Question: I am 58 years old, and want to retire in the next two to three years. I have a pension with my employer, and a SIPP with a financial services company.<\/p>\n

Even though we may be soon getting peace in Iran, I\u2019m worried about the longer-term effects of this war, and especially about my retirement savings taking a hit. Should I just move my pension money into cash to keep it safe?<\/p>\n

\n\t\t\tShorts\n\t\t<\/p>\n

\t\t\tScroll to previous short
\n\t\t\t\"\"<\/p>\n

\t\t\tScroll to next short
\n\t\t\t\"\"<\/p>\n

\t\t\t\t\"\"\/<\/p>\n

By November, UK food prices\u00a0will be 50 per cent higher than they were at the start of the\u00a0cost-of-living crisis\u00a0<\/p>\n

With that in mind, food editor Sophie Morris shares how she saves money on her weekly shop<\/p>\n

\"\" <\/p>\n

\nEasy ways to save on the weekly shop\n<\/p>\n

\"NORTHWICH,Caption: NORTHWICH, ENGLAND \u2013 JULY 06: Whole chicken sit on display in a Tesco supermarket on July 06, 2022 in Northwich, England. The British Retail Consortium recently said food manufacturers and supermarkets are having to pass on some of the cost of soaring raw materials to consumers, leading to the price of basic goods throughout the UK rising at the fastest pace since September 2008. Fresh food prices increased by 6% in the year to June 2022 coupled with an increase in inflation, and fuel and energy prices to create a cost of living crisis. This is leading to millions of low-income households going without essentials items, falling behind on bills and taking on debt. (Photo by Christopher Furlong\/Getty Images)
Photographer: Christopher Furlong
Provider: Getty Images
Source: Getty Images Europe<\/p>\n

Avoid chicken breast<\/p>\n

Boneless chicken thighs are all meat and a much tastier product.<\/p>\n

Don\u2019t plan everything<\/p>\n

If you plan every meal all week, there\u2019s no leeway for necessary last-minute changes of plan (or leftovers).<\/p>\n

\"ManMan Cooking By Woman Chopping Carrots In Kitchen \u2013 stock photo. (Photo: Getty)<\/p>\n

\"YoungGovernments are not all powerful when it comes to huge international forces like those increasing global food prices (Photo: Oscar Wong\/Getty Images\/Moment RF)<\/p>\n

Shop alone<\/p>\n

There are so many products that children want to fill the trolley with \u2013 all kinds of exciting eye candy.\u00a0It\u2019s cheaper to go alone.<\/p>\n

\nEasy ways to save on the weekly shop\n<\/p>\n

Consider a vegetable box delivery<\/p>\n

Having a Riverford box delivery helps Morris avoid impulse buys and go to the shops
less \u2013 even though the box is pricey. \u201cIt is expensive, but of great quality\u00a0and organic\u201d.<\/p>\n

\"AMilk and potatoes prices are expected to increases sharply later this year, say supply chain experts (Photo: Kate Wieser\/Getty)<\/p>\n

\"LowLow carb, FODMAP diet food background with vegetables, fruits, smoked salmon, chicken fillet, greens, nuts, olives. Menu for healthy eating . \u2013 stock photo. (Photo: Getty)<\/p>\n

Track your spending<\/p>\n

It doesn\u2019t need to be an elaborate spreadsheet but without some kind of metric, it\u2019s impossible to spot where you
can or must make cutbacks.<\/p>\n

\nEasy ways to save on the weekly shop\n<\/p>\n

\"LoyaltyThe supermarket loyalty schemes vary in their generosity (Photo: Paul Childs\/Reuters)<\/p>\n

Look for yellow stickers<\/p>\n

You can save plenty
over a year by never buying branded products at full price.<\/p>\n

Take stock<\/p>\n

Do a quick cupboard stocktake. You might find you already have three jars of one thing. <\/p>\n

\"Mid-AdultMid-Adult Couple Calculating Their Finances On The Laptop In The Kitchen \u2013 stock photo. (Photo: Getty)<\/p>\n

\"dieting\u201cSoft restrictions\u201d aren\u2019t infallible; we can always make the effort to get a ladder and get the biscuit tin down from the highest shelf (Photo: Getty)<\/p>\n

Avoid packaged snacks<\/p>\n

Packing fruit, biscuits, and nuts etc into a Tupperware to take out is more cost effective than buying tiny packaged portions.<\/p>\n

\nEasy ways to save on the weekly shop\n<\/p>\n

Be wary of DIY treats<\/p>\n

\u201cFaking\u201d a takeaway at home can sound like a cheaper option, but if it\u2019s something you don\u2019t usually cook \u2013 that needs new ingredients \u2013 it could work out pricier.<\/p>\n

\"AWhatever you buy, buy British if you can. That will help boost fishermen\u2019s finances (Photo: Betty Laura Zapata\/Getty)<\/p>\n

\"ACaption: A customer looks at packages of chilled chicken cuts in a part-empty refrigerated display unit at a Lidl supermarket store in Walthamstow, west London, on September 21, 2021. (Photo by Tolga Akmen \/ AFP) (Photo by TOLGA AKMEN\/AFP via Getty Images)
Photographer: TOLGA AKMEN
Provider: AFP via Getty Images
Source: AFP
Copyright: AFP or licensors<\/p>\n

Do you need it now?<\/p>\n

Returning a few things to the shelves that you won\u2019t need in the near future can save you a healthy amount.<\/p>\n

Skip a shop<\/p>\n

Every time you make do with what\u2019s at home,
you save big.<\/p>\n

\"ShoppingSupermarkets will find ways of holding down the price of the basics, and try to make their money on the fancy lines (Photo: Roy James Shakespeare\/Getty)<\/p>\n

\nEasy ways to save on
the weekly shop\n<\/p>\n

Try a week or a month of shopping local,
and you might be surprised at the results,
in terms of cost and other benefits like supporting local businesses, and
avoiding car journeys and traffic.<\/p>\n

\"Supermarket,Defenders of the triple Lock point to the fact pensioners are often asset-rich and income-poor. (Photo: Getty)<\/p>\n

Go shopping when you\u2019re not in a huge rush so you can make relaxed and informed decisions. Don\u2019t expect to stick to your\u00a0plan or make great choices when you\u2019re in a hurry.\u00a0<\/p>\n

I\u2019ve been a cleaner for 30 years \u2013 these are the 10 products I swear by<\/p>\n

Rebecca Jones has tried most cleaning products in her
decades-long career. <\/p>\n

She shares the ones she can\u2019t
live without. <\/p>\n

\"\" <\/p>\n

\nThe 10 best cleaning products\n<\/p>\n

\"\" <\/p>\n

Best vacuum<\/p>\n

Henry is a classic.
It has fantastic filters, sucks up pet hair quickly, and is great at cleaning up fine dust.\u00a0<\/p>\n

Best mop and bucket<\/p>\n

The Vileda H2PrO set is light, manoeuvrable and keeps clean and dirty water separate.<\/p>\n

\"\" <\/p>\n

\"PortraitA reader has asked whether or not she should sack her cleaner because she isn\u2019t doing a good job anymore (Photo: stock image of a man cleaning a window via Getty Images)<\/p>\n

Best glass cleaner<\/p>\n

The HG Glass and
Mirror cleaner removes stains without leaving smudges or streaks. <\/p>\n

\nThe 10 best cleaning products\n<\/p>\n

Best multipurpose cleaner<\/p>\n

Method\u2019s multi-surface cleaner is plant-based, cruelty-free, and works great on grease, sinks, sealed wood surfaces, hobs, bins and sealed laminated floors.<\/p>\n

\"DeepDeep cleaning glass door handles for Covid-19 disease prevention. alcohol,disinfectant spray on Wipes of Banister in home for safety,infection of Covid-19 virus,contamination, germs \u2013 stock photo. (Photo: Getty)<\/p>\n

\"\" <\/p>\n

Best toilet brush <\/p>\n

Unlike a regular toilet brush, nothing gets stuck in the bristles of Ibergrif M34152 Silicone brush. It also dries quickly, so
there\u2019s less odour.<\/p>\n

\nThe 10 best cleaning products\n<\/p>\n

Best mould remover<\/p>\n

Jones uses the HG Mould Spray on walls, tiles, grout, windows and outdoor furniture.<\/p>\n

\"A(Photo: boonchai wedmakawand\/Getty\/Moment RF)<\/p>\n

\"\" <\/p>\n

Best cloths<\/p>\n

The Seep Eco Bamboo clothes have a streak-free finish and last.<\/p>\n

Best carpet cleaner<\/p>\n

Every home should have a bottle\u00a0of Dr Beckmann\u2019s stain remover, says Jones.<\/p>\n

\"DrCaption: Dr Beckmann Power Brush Stain Remover
Image from https:\/\/www.dr-beckmann.co.uk\/products\/pre-wash-stain-devils\/<\/p>\n

\nThe 10 best cleaning products\n<\/p>\n

Best stain remover<\/p>\n

The Mr Siga Multi-Functional Eraser Sponge acts like fine sandpaper to\u00a0lift
dirt, stains, and scuffs\u00a0using only water.<\/p>\n

\"hand(Photo: Viktoriya Skorikova\/Getty Images\/Moment RF)<\/p>\n

\"\" <\/p>\n

Best kept secret<\/p>\n

Jones uses Bar Keepers Friend Cleanser to polish stainless-steel, scour sinks and clean her fridge and cookware. <\/p>\n

Around 957,000 people aged 16 to 24 are classed as NEET ie. not in Education, Employment or Training<\/p>\n

But as youth unemployment rises, not all companies
are looking to universities to find their new recruits. Meet the people who have benefitted. <\/p>\n

\"UniversityPoorer graduates will be hit hardest by the changes, the National Union of Students says (Photo: Andrew Fox\/Getty\/Image Bank)<\/p>\n

\"\" <\/p>\n

For young people unable to attend uni<\/p>\n

My whole life was being a carer, so I was very lost\u2026<\/p>\n

From the age of around 10, Bruce Devlin took responsibility for everything at home \u2013 from administering his mother\u2019s medication, to doing the shopping, cooking, cleaning and supporting his mother\u2019s mental health.<\/p>\n

He scraped through school, leaving with the lowest grades.<\/p>\n

Now, aged 26, he has secured a job by pursuing an unconventional route. <\/p>\n

The charities helping them<\/p>\n

Bruce followed an unconventional route.<\/p>\n

Getting a foot\u00a0in the door seemed impossible with his qualifications, lack of experience and connections.<\/p>\n

His Job Centre work coach put him in touch with Generation, a non-profit which partners with companies to identify roles which they are struggling to fill.<\/p>\n

He landed a place on Generation\u2019s first IT support boot camp and benefited from CV and interview coaching.<\/p>\n

Bruce is now a level three senior quality engineer with 2i Testing, a company which tests other companies\u2019 software.<\/p>\n

The result<\/p>\n

Getting a full-time salary and being a contributing member of society is an amazing achievement. Without this, I\u2019d be just another person on jobseeker\u2019s allowance, wasting any potential I had.<\/p>\n

BRUCE DEVLIN, 26, GLASGOW<\/p>\n

\"\" <\/p>\n

\nThe apprenticeship route\n<\/p>\n

Jessica Andrea Carvalho had an offer to start a media and marketing degree but she rejected it at the last minute to avoid huge debt and years of classroom learning.<\/p>\n

\"\" <\/p>\n

Avoiding increasing
NEET numbers <\/p>\n

\"YoungYoung woman at her first job interview with the owner of a coffee shop \u2013 stock photo. (Photo: Getty)<\/p>\n

Generation placed 700 people
like Bruce in jobs last year.<\/p>\n

The number of placements has jumped 20 per cent from last year.<\/p>\n

42 per cent of their learners come from the UK\u2019s most deprived areas.<\/p>\n

\t
\n\t\t\"\"\/
\n\t<\/a><\/p>\n

Big Read<\/p>\n

10 min read<\/p>\n

\"YoungPlan 5 applies to students who began university courses on or after August 2023
(Photo: Abraham Gonzalez Fernandez\/Getty Images\/
Source: Moment RF)<\/p>\n

What do employers think?<\/p>\n

Creating more routes in is not just about opportunity \u2013 it helps bring in talent with different experiences.<\/p>\n

Paula Cunnington, the chief talent officer for Publicis Groupe UK, a network of marketing agencies that has hired 79 apprentices, says curiosity and real-world experience are far better indicators of future success.<\/p>\n

Up to 75 per cent of us in the UK are not drinking enough water.<\/p>\n

The human body can survive for a time without food, but it cannot survive for long without water.<\/p>\n

Here are the signs you need more fluids, according to a GP.<\/p>\n

\"\" <\/p>\n

\nHow much we should drink\n<\/p>\n

Water is the most vital component for life.<\/p>\n

6-8<\/p>\n

NHS guidelines advise we should be drinking six to eight glasses of fluid per day.<\/p>\n

This does vary depending on our activity levels, the weather, and if we are ill.<\/p>\n

80%<\/p>\n

An estimated 50-80 per cent of our bodies and brains being made up of water.\u00a0<\/p>\n

It allows us to deliver nutrients to cells in our blood, lubricates our joints, regulates our temperature and much more.\u00a0<\/p>\n

\nHow to stay hydrated\n<\/p>\n

What to drink<\/p>\n

Not all fluids are the same \u2013 water takes top spot, as it hydrates without sugars or calories, but lower-fat milks,\u00a0sugar-free drinks\u00a0or moderate amounts of tea and coffee can all count towards fluid intake.<\/p>\n

\"AsianCaption: Asian girl grocery shopping in supermarket. She is choosing fresh fruit juice along the beverage aisle, reading the nutrition label and checking ingredients on the bottle. Making a healthier food choice and balanced diet. Healthy eating lifestyle
Photographer: d3sign
Provider: Getty Images
Source: Moment RF<\/p>\n

\"CheerfulA reader bemoans that his children spend money on fancy coffees and holidays with friends, never having a penny left each month
(Photo: Getty\/Gorica Poturak)<\/p>\n

What to avoid<\/p>\n

Limit smoothies and fruit juices to 150ml per day because the sugar causes dental decay.<\/p>\n

\nSigns you\u2019re not drinking enough\n<\/p>\n

1. Our brains<\/p>\n

\"AThe pain from migraines is sometimes described as feeling like you\u2019ve had an axe blow to the head (Photo: Getty)<\/p>\n

When dehydrated, we can display an exaggerated response to pain and experience\u00a0headaches. Concentration, attention, reaction times and short-term memory can also all be negatively impacted.<\/p>\n

\t
\n\t\t\"\"\/
\n\t<\/a><\/p>\n

LIFESTYLE<\/p>\n

6 min read<\/p>\n

\nSigns you\u2019re not drinking enough\n<\/p>\n

2. Our bodies<\/p>\n

Another common sign of dehydration is constipation. Our skin can look duller, be less bouncy to the touch and be less elastic.\u00a0<\/p>\n

\"TiredTired Asian businesswoman working on a laptop computer in the office \u2013 stock photo. (Photo: Getty)<\/p>\n

\"Closeup(Photo: Ekaterina Demidova\/Getty).<\/p>\n

3. Our psychology<\/p>\n

Research has shown that even mild dehydration can lead us to feel more moody, stressed and irritable. We can also feel more tired than usual, with less energy and motivation.\u00a0<\/p>\n

\"\" <\/p>\n

Quick and life-changing tricks for a calmer, tidier home<\/p>\n

\nEasy habits to declutter your home\n<\/p>\n

\"DeclutteringI need someone to tidy up my attitude towards tidying. Who does one hire for that?
(Photo: Getty Images\/iStockphoto)<\/p>\n

The habits audit<\/p>\n

Subconscious habits can cause clutter so take regular pauses to stop and notice what you are doing during the day.<\/p>\n

The re-entry reset<\/p>\n

Establish a routine you follow every time you come home so the entrance stays clear.<\/p>\n

\"TwoTwo young children wearing school uniforms exit their front door \u2013 stock photo. (Photo: Getty)<\/p>\n

\"ALate toilet training has become more common, putting pressure on teachers and taking up learning time (Getty)<\/p>\n

The exit mindset<\/p>\n

Each time you leave the house, take a minute to think: \u2018What can I take out with me?\u2019\u00a0To the tip? To the charity shop? To recycle? <\/p>\n

\nEasy habits to declutter your home\n<\/p>\n

The drop zone<\/p>\n

Doing a clear-out for charity doesn\u2019t need to be a big task. Have a donate box in a practical location to drop any unwanted items as you come across them.<\/p>\n

\"Man(Photo: Westend61\/Getty).<\/p>\n

\"Woman(Photo: Getty).<\/p>\n

Dedicated home<\/p>\n

Create a logical home for everything so it\u2019s easier to find and keeps everything in place.<\/p>\n

\nEasy habits to declutter your home\n<\/p>\n

The quick scan<\/p>\n

Each time you open a drawer\u00a0identify a few items you can bin, donate or return to their rightful home.\u00a0<\/p>\n

\"WomanWoman carrying box while moving and cleaning up at home happily \u2013 stock photo. (Photo: Getty)<\/p>\n

\"YoungFollow these rules to declutter your own home (Photo: Nadzeya_Kizilava\/Getty\/E+)<\/p>\n

One in, one out rule<\/p>\n

To manage wardrobe clutter follow the rule that a new item can only go in if you give something else away.\u00a0<\/p>\n

The daily check-in<\/p>\n

Give yourself a few minutes at the start or end of the day to acknowledge the progress you\u2019ve made.<\/p>\n

\"WomanWoman Refreshing the Bed with Clean Bed Sheets in a Bright Room \u2013 stock photo. (Photo: Getty)<\/p>\n

\"\" <\/p>\n

It can be far easier to seek an internal promotion rather than a new job elsewhere<\/p>\n

\nThe statistics\n<\/p>\n

A trend of \u2018job hugging\u2019<\/p>\n

12%<\/p>\n

In January, available vacancies were down 12 per cent compared to a year prior.<\/p>\n

According to the ONS it marked 39 consecutive quarters of decline.<\/p>\n

51%<\/p>\n

of UK employees plan to stay in their current roles, as\u00a0Employment Hero\u2019s first Annual Jobs Report\u00a0shows. Four in 10 say competition is too high to take the risk.<\/p>\n

So how can you improve your current situation without leaving?<\/p>\n

Learn to humble brag<\/p>\n

Your wins don\u2019t always speak for themselves. Share them. Jump into conversations beyond your usual remit. How people see you today shapes the opportunities that come your way tomorrow. Even small updates can have an outsized impact.<\/p>\n

VICTORIA MCLEAN, CEO OF CITY CV AND AN EXPERT IN CV AND PROFILE WRITING<\/p>\n

\"DriveDrive Talent Investments with Strategic Workforce Planning. A female job-seeker answering questions during a job interview with a human resource manager in a business office. \u2013 stock photo. (Photo: Getty)<\/p>\n

\nMake your case \u2013 with data\n<\/p>\n

\"ACaption: Mid adult man with eyeglasses sitting on a comfortable sofa at home, thoughtfully writing notes in a small notebook while natural sunlight illuminates the room
Photographer: Milan Markovic
Provider: Getty Images
Source: E+<\/p>\n

Keep a log<\/p>\n

The chances of your boss remembering what you achieved in Q1 by December is low so keep a success log. <\/p>\n

Treat it as a proposal<\/p>\n

Show impact, link it to organisational goals,
and outline future
value, says McLean.<\/p>\n

\"MaleMale candidate handshake with the recruiter at job interview \u2013 stock photo. (Photo: Getty)<\/p>\n

\"Remember(Photo: Shutterstock).<\/p>\n

Don\u2019t be shy<\/p>\n

Ask your boss directly what you need to do to\u00a0be promoted\u00a0in the next six to 12 months.<\/p>\n

\nOffer solutions to problems\n<\/p>\n

Ask yourself: what\u00a0keeps your organisation awake
at night?<\/p>\n

Solve those problems and you shift from just doing your job to being a strategic asset.<\/p>\n

Sharing your ideas and views with the people above you can really prove what you\u2019re capable of.<\/p>\n

Proactively\u00a0initiate new projects
or processes.<\/p>\n

\u00a0It \u2018s daunting but getting people to see you in a more elevated position before you get there is really effective.<\/p>\n

\"WorriedCaption: Worried businessman biting his nail while waiting for a job interview with other candidates in a hallway of an office building.
Photographer: skynesher
Provider: Getty Images
Source: E+<\/p>\n

Ask for training<\/p>\n

It\u2019s a fantastic signal to show how serious you are about your development.\u00a0<\/p>\n

As careers are no longer linear, a promotion may not be in your current role, but perhaps in the same company in a broader role. <\/p>\n

Do some digging to find out what else might be available in\u00a0other areas.<\/p>\n

How to resolve the biggest rows that can end marriages<\/p>\n

Private school, sex and housework\u00a0can be some of the biggest causes of tension between warring couples. <\/p>\n

Mike Talbot, a psychologist, and chief executive of UK Mediation [below], reveals how to fix them.<\/p>\n

\"\" <\/p>\n

\nWhat couples row over\n<\/p>\n

Parenting and schooling<\/p>\n

\"YoungYoung couple having an argument. Woman is angry with man. \u2013 stock photo. (Photo: Getty)<\/p>\n

Psychologist Mike Talbot says parenting can expose ideological differences in a couple. He encourages people to listen to each other, and find a \u201cthird way\u201d, something that they come up with between themselves, rather than sticking to one person\u2019s opinion.<\/p>\n

\t
\n\t\t\"\"\/
\n\t<\/a><\/p>\n

OPINION<\/p>\n

3 min read<\/p>\n

Money (or a lifestyle)<\/p>\n

\"ACaption: A mature couple sitting in bed and looking at each other angrily after a disagreement
Photographer: kupicoo
Provider: Getty Images
Source: iStockphoto<\/p>\n

It\u2019s common for couples to disagree on their property or finances.<\/p>\n

Couples might have different ideas about what the best plan of action is for the future.<\/p>\n

Dr Talbot says its important to find \u201ccommon ground\u201d on what both parties wish for, or worry about.<\/p>\n

\t
\n\t\t\"\"\/
\n\t<\/a><\/p>\n

Agony Uncle<\/p>\n

5 min read<\/p>\n

\nIncompatibilities around sex\n<\/p>\n

Dr Talbot has seen this when one person loses their sex drive. \u201cIt can happen when the couples get older, and she\u00a0loses her sex drive during menopause, whereas the guy\u2019s still as randy as he was when he was 20.\u201d<\/p>\n

\"YoungCaption: Young couple having relationship difficulties at home. Both about 25 years old, Caucasian people.
Photographer: GoodLifeStudio
Provider: Getty Images
Source: E+
Copyright: DAMIR MIHAJLOVIC<\/p>\n

\"MillennialCaption: Millennial black lady vacuuming floor while her husband watching TV, not helping her with household duties, cropped view. Unrecognizable young couple having problem with domestic chores
Photographer: Prostock-Studio
Provider: Getty Images\/iStockphoto
Source: iStockphoto<\/p>\n

Domestic workload<\/p>\n

We get people disagreeing about how tidy the house should be, how neatly dressed the kids should be\u2026\u00a0<\/p>\n

This goes back to the gender stereotypes.<\/p>\n

The solution is to focus on value and to get the couple to think about the conflict in a different way.<\/p>\n

Being a grandparent
is complicated<\/p>\n

\"\" <\/p>\n

Celia Dodd, who looks after her grandchildren two days a week, says
there\u2019s a fine line between being supportive and interfering. <\/p>\n

Here she shares the things she\u2019d never say or do with her own family.<\/p>\n

\nWhat grandparents should never do\n<\/p>\n

Ignore parents rules<\/p>\n

It\u2019s important to know what\u2019s expected rather than second-guessing what the parents want, and possibly getting it wrong.<\/p>\n

\"Rear(Photo: Getty)<\/p>\n

\"ParentsCaption: Parents and young child moving into a new house, unpacking belongings from cardboard boxes
Photographer: Vladimir Vladimirov
Provider: Getty Images
Source: E+<\/p>\n

Send endless snaps<\/p>\n

Friends understandably get irritated if you keep sending photos and long videos, especially if they\u2019re longing for grandchildren of their own.<\/p>\n

\"BurnoutI\u2019ve made it very clear to my own daughter that if she needs full time childcare, she\u2019s going to have to sort that out herself (Photo: PeopleImages\/ Getty)<\/p>\n

What not to say<\/p>\n

I wouldn\u2019t do it like that\u2026<\/p>\n

The golden rule for grandparents \u2013 don\u2019t offer advice unless it\u2019s asked for, and never interfere \u2013 is almost impossible to get right.<\/p>\n

You might feel like \u2013 how can you\u00a0not interfere when you\u2019re doing your best to support the family? It\u2019s a fine line, and there are times when you\u2019re bound to get it wrong.<\/p>\n

\nWhat grandparents should never do\n<\/p>\n

\"Grandchild,Grandchild, twilight parenting, grandparents, grandmother, baby, exhausted, tired \u2013 stock photo. (Photo: Getty)<\/p>\n

Assume involvement<\/p>\n

Although it\u2019s a shock, it\u2019s simply not on to drop in whenever you feel like it.<\/p>\n

Beat yourself up<\/p>\n

Being a grandparent is never 100\u00a0per cent bliss, despite what people say. Childcare can be boring as well as fulfilling.<\/p>\n

\"\"(Photo: Paul Bradbury\/Getty).<\/p>\n

\"TiredNaps before 1pm can lead to better cognitive performance in the following hours (Photo: Lord Henri Voton\/Getty Images)<\/p>\n

Admit tiredness<\/p>\n

I don\u2019t want them to stop asking me to babysit, and I certainly don\u2019t want them suggesting I\u2019m doing too much.<\/p>\n

\nWhat grandparents should never do\n<\/p>\n

Forget the years fly<\/p>\n

Grandparents have to keep finding new ways to keep the connection close, by tapping into what your grandchild loves doing.\u00a0<\/p>\n

\"ConflictConflict of family two generations old mother and adult daughter \u2013 stock photo. (Photo: Getty)<\/p>\n

\"GrandparentsGrandparents and their young grandchildren relaxing at home \u2013 stock photo. (Photo: Getty)<\/p>\n

Dismiss the parents<\/p>\n

Even if you don\u2019t agree with the way things are done \u2013 like using gentle parenting \u2013
it\u2019s a big help to understand why they are doing it rather than just dismiss them. <\/p>\n

\t\t\t\t\"\"\/<\/p>\n

Answer: Planning for retirement is challenging at the best of times, and it can feel even harder when global events make markets more unsettled. <\/p>\n

For someone in their late 50s, seeing the value of their pension savings move up and down can be unsettling, especially when retirement is only a few years away. It is completely understandable to want to protect the wealth you have built up over decades, but that does not necessarily mean moving everything into cash is the right move.<\/p>\n

The temptation during periods of uncertainty is to act quickly and move pension money onto safer ground. But making a sudden switch to cash after markets have already fallen can lock in losses and leave your pension pot with little chance to recover. <\/p>\n

While cash may feel reassuring in the short term, pensions are long-term investments, and decisions made in the heat of the moment can sometimes do more harm than good.<\/p>\n

A better starting point is to think about how and when you will use your pensions. The key questions are how long it will be before you access the money, which pension pot you plan to use first, and what you want that money to do for you in retirement. The answers can shape how much investment risk you should be taking as retirement approaches.<\/p>\n

For instance, if you plan to take your 25 per cent tax-free cash in the next couple of years, you may want to start moving that portion gradually into cash, or lower risk assets, so it is there when you need it. Doing this in stages, rather than all at once, can reduce the risk of selling investments at a particularly low point in the market.<\/p>\n

If you are planning to use the rest of your pension to buy an annuity, which gives you a guaranteed income for life, then it can make sense to move into lower-risk investments as retirement gets closer. That is because annuity prices tend to be linked to assets such as bonds, so a gentler investment approach may help align your pension with what you plan to do next.<\/p>\n

However, many people now use income drawdown instead of buying an annuity, or a mixture of the two, maybe starting with drawdown and buying an annuity later on. If that is your plan, your pension could remain invested for many years after you stop working.<\/p>\n

In that case, moving everything into cash or very cautious investments too early may not be the best answer, because it could limit future growth and leave your pension with less opportunity to recover from short-term market falls.<\/p>\n

This is also where it pays to look closely at your workplace pension. Many schemes use an automatic investment strategy known as lifestyling, which gradually moves savers into lower-risk investments as they near retirement. <\/p>\n

That can work well for someone who plans to buy an annuity at a set date, but it may be less suitable for someone who is planning to access their pension earlier (or later), or who wants to take tax-free cash flexibly or use drawdown instead.<\/p>\n

With a SIPP, you will usually have more control over how and when you change your investments. With a workplace pension, the default approach may already be making those changes for you in the background.<\/p>\n

That is why it is so important to check whether the investment path your scheme has chosen actually matches your own retirement plans.<\/p>\n

The most important thing is not to let headlines drive major financial decisions. If you are worried about the impact of global unrest on your retirement savings, take a step back and think about your long-term plan. <\/p>\n

Once you are clear on whether you want cash, drawdown or an annuity, you can make sure each pension is invested in a way that supports those choices.<\/p>\n","protected":false},"excerpt":{"rendered":"In our weekly series, readers can email in with any questions about\u00a0retirement and pension\u00a0savings to be answered by…\n","protected":false},"author":2,"featured_media":653272,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[84,4176,585,17728,4178,4174,4175,4204,56,54,55],"class_list":["post-653271","post","type-post","status-publish","format-standard","has-post-thumbnail","category-personal-finance","tag-business","tag-finance","tag-iran","tag-money-clinic","tag-pensions","tag-personal-finance","tag-personalfinance","tag-retirement","tag-uk","tag-united-kingdom","tag-unitedkingdom"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/653271","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=653271"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/653271\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/653272"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=653271"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=653271"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=653271"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}