Lifestyling has become a staple retirement strategy but it was devised in a environment where the main retirement income solution available to savers was an annuity.
The world is a different place now and uncertainty over the government's role in funding care in later life means that people should save for the possibility of footing the cost themselves.
The idea of switching into less riskier assets typically cash and bonds as you approach retirement might sound like a good idea -and in some cases it is. However, these safer assets are not yielding very much at this moment in time. Bond yields, for example, have been fledgling in times of late - particularly following the UK vote to leave the EU. However, savers should always be aware that things change over time.
In saying this, if you can afford not to take risks with your nest egg, then don't.
Saver are strongly encouraged to seek professional financial advise before tweaking their plans.
It is worth noting that the government has a free and impartial service which offers guidance on pension matters.
