Retirement Planning
With all of us living longer, it has never been more important to have the resources available to us during our retirement, to help enable us to live the lifestyle we would like..
Contrary to many people's understanding, retirement planning is not just about pensions, but is about utilising all different potential income streams including:
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Cash savings
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Individual Savings Accounts (ISA's)
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Investment Bonds
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Property or Business Income
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Inheritances
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Pensions
Our qualified advisers will spend time getting to know you and your current circumstances and where you would like to be financially in your retirement, before helping create a bespoke plan, utilising some or all of the above options available as required.
If you do not have any kind of plan, and need to make a start, or whether your current arrangements need to be reviewed, our team can help.
We can help you put together a retirement plan, by managing your pensions
Retirement Plan
Retirement planning works backwards and so understanding what you want your retirement to look like, knowing how much money you will need and knowing when you would like to realistically retire, helps us put together the basis of a plan as to how this may be achieved.
Even if you are unsure of the answers right now, we have the right questions to help draw this out.
Maximising your Pensions
Retiring on your terms is a huge goal for many, however this means maximising your pension pots to ensure they last throughout your retirement.
Pension wrappers are still one of the most tax efficient ways to save for retirement and we can help ensure you are maximising your annual allowances and utilising any unused allowances from previous years.
Types of Pensions
There are a number of different types of pensions, some of which offer certain benefits. Occupational pensions are usually cost effective and offer employer contributions, whereas private pensions tend to offer wider investment choices and flexibility. We can help manage all of your pensions, including ensuring they meet your risk appetite and are in line with your goals and objectives.
Other Investment Types
Pensions are not the only way to invest for your retirement. You may have property, business interests, general investments accounts, ISAs or investment bonds, all of which can play a part in funding you through retirement.
Our advisers can help you understand and manage all of these and how they fit into your retirement strategy.
Managing Income During Retirement
When it comes to start withdrawing money from your pensions, it is difficult to know the right strategy, and even what options are available to you. We can help you understand all of the jargon including, Tax Free Lump Sums, Draw-down, Flexi-access, Annuities.
If you have other investments such as ISAs, Investment Bonds or General Investment Account's, we can ensure that you access these in the most tax efficient manner.
Business Owners and Self Employed
Utilising your business to make pension contributions can be tax efficient both personally and for the business. Please see our corporate services section for more information.
Self employed people do not have access to occupational pensions or contributions from an employer, and so setting up personal pensions is critical.
The value of Pensions and Investments and the income that they produce, can go down as well as up and you may not get back the full amount that you originally invested.