Money Box Live: How to Retire Well

Money Box

BBC

Business

4.2 • 804 Ratings

🗓️ 12 March 2025

⏱️ 28 minutes

🔗️ Recording | iTunes | RSS

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Summary

We all dream about what we will do when we don't have to work anymore. The perfect retirement looks different for everyone, from travelling the world and luxury holidays to spending more time with family and friends, but the cost of stopping work can be bit of a wake-up call.

In this Money Box Live we'll look at how to make the most of the savings you have as retirement approaches to how to start planning for retirement at the start of your career.

Felicity Hannah is joined by Sangita Chawla, Managing Director at Standard Life and Zoe Alexander, Director of Policy and Advocacy at the Pensions and Lifetime Savings Association to answer your questions - and offer tips on how to plan for a good retirement.

Presenter: Felicity Hannah Producer: Catherine Lund Editor: Jess Quayle

(This programme was first broadcast at 3pm Wednesday 12th February, 2025.)

Transcript

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0:00.0	Hello, you're about to listen to a BBC podcast, so I'd like to tell you where you'll find more just like it.
0:05.5	I'm Izzy Lee Poulton, an assistant commissioner for BBC Sounds, which means I'm involved in the whole podcast making process.
0:12.0	Whether that's developing fresh formats or facilitating eye-catching artwork, I helped project manage all the details that make our podcast stand out.
0:19.0	At the BBC, we've got access to storytellers and experts across a huge range of subjects.
0:24.6	It could be psychologists, comedians, celebrities or journalists.
0:28.6	No podcasts or day looks the same here.
0:31.6	So no matter what you like, check out BBC Sounds.
0:33.6	There's probably another podcast on there that you're absolutely love.
0:42.3	BBC Sounds, music, radio, podcasts.
0:45.2	Hello, how do you picture your retirement years?
0:50.5	Time with family, travelling, more time for hobbies, are all high up on the list of dreams.
0:56.1	But the cost of stopping work can be a bit of a wake-up call. Today in this Moneybox Live podcast, we're looking at how to retire well and what that might actually look like.
1:02.2	Before we meet today's experts, let's hear from some workers. I went to an office park in
1:06.4	Birchwood, Cheshire, to ask people there about their hopes for retirement. I definitely want to like move abroad when I retire, get all my travelling.
1:15.0	Do you think about pensions at all?
1:16.9	Um, not really, but I probably will have to think about it eventually.
1:22.8	I've got no reason to retire at all. I'm just going to keep going as long as I can.
1:28.7	Do you love what you do? Oh yeah. I don't want to be sitting at home doing nothing. I'm just going to keep going as long as I can. Do you love what you do?
1:32.6	Oh yeah. I don't want to be sitting at home doing nothing. I'm out asking people what kind of retirement dreams they have, how you see your retirement? Hopefully early, hopefully when it's still
1:37.9	a decent retirement age in 60s maybe by then, but then move abroad. Can I ask, are you saving now for your retirement?
1:45.2	Do you think you'll have enough cash in your older age?
1:47.2	Probably not, probably just a state pension.
	...

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