If you’re on the cusp of retirement, then you might be feeling a little bit of financial uncertainty. This is a common feeling, which, if allowed to fester, can make the experience of retirement just that little bit less enjoyable. Thankfully, there are plenty of things you might do to shore up your finances before you finally leave the world of work.

Reduce spending on the kids

Many of us feel an understandable urge to look after the interests of our children. Student debt can seem like a heavy weight to bear, and you might feel tempted to lighten the load by reaching into your own pocket.

There’s reason to suppose that this might be a mistake, however. Much of the time, our offspring tend to be more resourceful than we might imagine. Prioritising your own finances over theirs can provide them with the incentive they need to look after their own interests.

Pay your debts

Now is an excellent time to deal with any high-interest debts you have outstanding. The interest you pay on this kind of debt will work against your money-saving efforts in the long term. If you have several debts outstanding, then you should ensure that you can meet the minimum payment on all of them. Often, it’s a good idea to try to consolidate them into a single loan with a lower rate of interest – or to invest in outside help to manage your finances.

Free up Cash

If you’re in the fortunate position of having amassed physical assets, like property, then you might use them to free up cash to spend on yourself. You might rent out your home, or a part of it; you might sell your home and move to a smaller one, pocketing the difference in price. One popular option is equity release, which is a form of mortgage that isn’t paid off until after you’re dead. If you don’t have anyone to leave your property to, or you think that they’re going to be comfortable inheriting the debt, then this might be an appealing option. Be sure to look into how equity release works before you investigate further.

Find old Pensions

If you’ve lost track of your pension funds over the course of your lifetime – perhaps as a result of having changed employer multiple times during a period when you weren’t overly concerned about things like pensions – then you might have cash available which you haven’t claimed ownership of. Tracing lost pensions is often worth the effort – so get started sooner rather than later.