Why Most UK Retirees Don’t Know What They Have — or What to Do With It
Paul Mitchell | Financial and Retirement Planning Coach
Find him here at: Your Smart Retirement Coach
You Can’t Plan the Journey If You Don’t Know Where You’re Starting
You’ve worked for decades. Paid into pensions, built up savings, bought your home, maybe even invested a little on the side.
Now you’re thinking about retirement—or maybe you’re already in it. But here’s the big question:
Do you actually know what you’ve got… or what to do with it?
Most people don’t. And that’s not their fault.
Retirement finances in the UK are needlessly complex, and unless you’ve had regular financial advice (which most people haven’t), chances are:
- You’ve got multiple pensions you barely remember
- You’re not sure how much income you’ll get
- You don’t know what’s taxable vs tax-free
- And you’ve no idea if it’ll all be enough
In other words — you’re not alone.
“I Feel Embarrassed I Don’t Know This Stuff…”
This is one of the most common things people say to me in coaching sessions.
They’re not unintelligent. They’re not lazy. They’ve just never been taught how to:
- Understand pension statements
- Forecast retirement income
- Plan withdrawals from ISAs, pensions, and savings
- Balance income with lifestyle goals
And they don’t want to go straight to a regulated adviser, because that often feels:
- Too expensive
- Too product-focused
- Too premature
💡 That’s where coaching comes in.
It’s the missing link between confusion and confidence.
Real Client Story: Diane, 63
Diane had four pension pots, two ISAs, and a small inherited savings plan.
“I think I want to retire at 65,” she said. “But I don’t really know if I can. I don’t even understand what I’ve got.”
She was afraid of being judged — but what she needed was clarity.
Through coaching, we:
✅ Pulled everything together into a simple summary
✅ Estimated her projected income year by year
✅ Highlighted her tax-free allowances
✅ Identified a strategy to blend pension and ISA withdrawals
✅ Gave her peace of mind that she was better off than she realised
She left the session saying:
“For the first time, I feel like I actually understand my money. I’ve stopped worrying every day.”
✅ Are You Retirement-Ready… Or Just Hoping for the Best?
Tick all that apply:
☐ I know how many pensions I have
☐ I know roughly how much income I’ll get in retirement
☐ I’ve forecasted how long my savings will last
☐ I know what’s taxable and what’s not
☐ I’ve planned for different stages of retirement (early, mid, later)
☐ I know how to support a partner if they outlive me
☐ I have a plan for what happens if I live to 90+
🔸 If you didn’t check 3 or more of these… coaching can help.
Why So Many People Feel Lost at Retirement
Let’s be honest. The system wasn’t built for clarity:
- Pension statements are hard to read
- Workplace pensions are scattered and forgotten
- The State Pension is misunderstood
- ISAs, general savings, drawdowns… all come with different rules
- Most people haven’t had regulated advice — and don’t want to be sold to
They just want someone to:
- Help them make sense of it all
- Explain it in plain English
- Show them what’s possible
That’s exactly what I do as a retirement financial coach.
What Coaching Can (and Can’t) Do
I don’t sell products. I don’t give regulated advice.
But here’s what I can do:
✅ Help you gather and organise all your assets
✅ Create a personal retirement income map
✅ Explore your lifestyle goals and spending plans
✅ Clarify tax basics and common retirement allowances
✅ Help you plan your money across early, mid, and late retirement
✅ Give you the confidence to take action — or to speak to an adviser if needed
The Coaching Difference: Clarity First
Most people skip to “What should I invest in?” before they ask:
- “What do I have?”
- “What do I need?”
- “What do I want?”
That’s like choosing a holiday before checking your budget and passport.
🧭 Coaching puts clarity before complexity.
It’s the best place to start — and often, it’s all you need to feel in control.
What Makes the Biggest Difference?
Not product knowledge. Not financial jargon. Not expensive fees.
The people who feel best about retirement are the ones who understand what they’ve got, what they want, and how to align the two.
They’re not always rich — but they’re prepared.
Book Your Free Initial 15-Minute Discovery Coaching Call
You’ve worked hard to build your savings. Now let’s make sure you know what you’ve got and what it can do for you.
📞 Let’s talk—free, confidential, and with no pressure.
🔗 Book now
You might also like:
👉 From Confused to Confident: Simplifying Your UK Pension Options
Disclaimer
These insights provide strategic coaching perspectives. This is NOT regulated financial advice. Individual circumstances vary, and it is crucial to consult qualified financial professionals for specific financial guidance.
Individual cases are illustrative and not predictive of future results. Actual savings and support needs will differ based on personal financial situations.
About the Author
Paul Mitchell is a dedicated Financial and Retirement Coach (Qualified To Chartered Financial Planner status) with over 35 years of experience in financial services. Through Your Smart Retirement Coach, he helps clients build confidence in their financial future and create fulfilling retirement lifestyles. As a retirement transition coach, I’m committed to empowering investors with knowledge, perspective, and strategic support.
Book a free initial 15-minute discovery consultation to start your journey toward financial clarity.
