- The 4 per cent rule on withdrawals won’t be the best for everyone
- Keep about a year's worth of expenses in cash
- Costs, taxes and other sources of income are all factors to consider
After decades of hard work, you have finally retired and are ready to reap the rewards of your efforts. But shifting your focus from saving money into your pension to spending it is a big change, and you will have to make some important financial decisions.
Here are the key things to consider when you start drawing money from your self-invested personal pension (Sipp), so that you can enjoy a comfortable retirement and make the most of your investments.