How using the Tumble Dryer can impact your retirement plans?

Choosing when to retire is a complex decision at the best of times, however the recent cost of living crisis has made many who are thinking of retiring in the next couple years reassess their plans, especially as some may feel they cannot manage their pension contributions in the run up to their retirement.

Understanding your finances and how you can maximise your money through these turbulent times can help you maintain and build on your retirement plans and therefore give you confidence you will have the desired lifestyle you want in retirement. E.g. did you know that if you use your tumble dryer twice a day over the winter you could be paying £1.48 per day on this alone. By reducing the amount of electricity, you use, the extra savings could be used on other finances, such as your retirement.

With this in mind the PMI, supported by WEALTH at work, a leading financial wellbeing and retirement specialist, are running ‘Managing your finances as you approach retirement’ taster sessions which will show you ways to help your employees manage their money and still be able to save for a happy retirement. The Taster sessions which will last for 1 hour will be running on Thursday 16th March, Thursday 13th July & Thursday 12th October 2023 and are open to all PMI members as well as affiliated employees and pension scheme members.

The “Managing your finances as you approach retirement’ taster session will provide an improved understanding of how your employees manage their finances leading up to and into retirement, which in turn will enable them to make better retirement decisions.

The training taster session will be a live presentation with the opportunity for Q&A.