Thinking of DIY-ing Your Retirement Plan? Read This First.

Spreadsheet or Specialist? How to Plan a Retirement That Works.

So, you’ve started thinking seriously about retirement. Maybe it’s a few years away, or maybe it’s just around the corner. Either way, you’ve decided it’s time to get your house in order.

So you do what most people do: You open a spreadsheet. You start listing pensions, savings, maybe a few shares you’ve held onto. You estimate your monthly expenses, add in a bit of growth, maybe pop in the state pension when you hit 67.

It feels satisfying — maybe even empowering. You're in control. You’re doing the numbers. You’re finally getting organised.

And you know what? That’s brilliant. I work with clients in Doncaster every day, and honestly — just getting to this point already puts you ahead of the game.

But then you hit a wall.

Because retirement planning isn’t just about whether the numbers add up. It’s about how, when, and where from. It’s about tax. Risk. Flexibility. Legacy. And more than anything, it’s about making sure your money serves your desired lifestyle — not the other way around.

So let’s take a look at what DIY retirement planning can do for you — and where bringing in a financial adviser can seriously take things to the next level.

The Power of Starting with DIY

When you map out your own retirement plan, even if it’s just a rough sketch, a few great things happen:

• You get clear on what you’ve got — pensions, ISAs, savings, rental income.
• You start estimating what life might cost — day-to-day bills, holidays, cars, helping the kids.
• You make retirement feel real — not some abstract concept, but something you’re actively building towards.

That’s powerful. It gives you confidence. It helps open up important conversations — especially with your partner. And it puts you in the driver’s seat.

If you’ve done this, take a moment to pat yourself on the back. Seriously.

But here’s the catch…

Even the best DIY plans tend to live in neat little rows and columns. They assume life will unfold in straight lines — that markets will deliver 5% returns every year, that you’ll spend the same amount every month, that tax will stay as it is today, and that nothing unexpected will happen.

And we both know… life doesn’t work like that.

So, Where Does DIY Fall Short?

Let’s say you’ve built a lovely spreadsheet. You’ve factored in your pensions, savings, maybe even inflation. But then you start asking:

• “Which pot should I draw from first?”
• “How do I avoid paying more tax than I need to?”
• “Is my old pension even any good?”
• “Will my plan still work if one of us lives to 95?”
• “What if we need care?”

That’s where things get murky. Because most people simply don’t know:

• That withdrawing from the wrong product first can cost thousands in tax.
• That some pensions come with guarantees or exit penalties most people miss.
• That taxes change every single year — and what works now might not work next April.
• That markets don’t move in straight lines, and a downturn early in retirement can do lasting damage.
• That the behavioural side of money — panic, fear, second-guessing — can quietly sabotage your plan without you even realising it.

So while your spreadsheet is a fantastic place to start... it’s not necessarily the place to stop.

What a Financial Adviser Brings to the Table

This is where working with a professional — someone who lives and breathes retirement planning — starts to shine.

Imagine sitting down with someone who doesn’t just ask you how much money you’ve got, but asks you:

• What does retirement feel like to you?
• What do you want life to look like in 10, 20, 30 years?
• What legacy do you want to leave behind?

Then imagine they build a plan that:

• Integrates all your pensions, ISAs, savings, property income, and more
• Stress-tests that plan against market crashes, inflation, illness, and unexpected costs
• Strategically blends withdrawals from the right sources at the right time to legally reduce your tax bill
• Helps you gift to your children now, not just in your will
• And gives you a clear, visual, year-by-year picture of where you’re heading

And best of all — someone who sticks with you through it all. Through changing rules. Changing markets. Changing priorities.

You don’t just get a plan. You get a partner.

Tax, Timing & Smart Strategy

Most people don’t realise just how much tax can be saved by structuring withdrawals correctly.

Should you take income from your pension first? Or your ISA? Or use capital from your GIA?

Should you delay the state pension to get a higher income later?

Can you gift money to your children or grandchildren without impacting your own security?

These aren’t just admin questions. They’re strategy decisions. And the wrong one can create a tax bill you didn’t need to pay — or drain your resources faster than you expected.

Planning for Life and Death

A good adviser won’t just help you live well. They’ll help you leave well.

That means:

• Structuring your estate efficiently
• Minimising inheritance tax where possible
• Using trusts and gifting strategies wisely
• Making sure the surviving spouse is protected
• Helping you pass on wealth with purpose — not just numbers

These things are hard to DIY. Not because you’re not smart — but because this stuff is layered, detailed, and constantly shifting.

So, Should You DIY Your Retirement Plan?

Absolutely. At least to start.

Getting a handle on your own finances, understanding what you have, and thinking seriously about the future is incredibly valuable. It makes you a better decision-maker. It makes you more informed. It gives your future adviser (if you choose one) a solid foundation to build from.

But don’t stop there.

Because retirement is too important to leave to chance — or to a spreadsheet that doesn’t know the tax code, market history, or the cost of care in 2043.

If You're Based in Doncaster or the surrounding areas...

We’d love to help.

Whether you’re five years out, already retired, or just starting to think about what's next, we specialise in helping people like you build retirement plans that are:

• Clear
• Tax-efficient
• Flexible
• And built to last

Book a free, no-pressure call or drop me a message — I'm happy to chat.

Because whatever retirement looks like for you, you deserve to step into it with clarity, confidence, and a proper plan.