Leaving work behind you can be a powerfully attractive prospect. But a reliable long-term income is essential – especially if you are planning on doing so early. Realistic financial planning is the key, and depending on what you have in mind, there can be substantial differences in the funds you need available at different stages of your retirement.
Planning for your retirement
Let us help you to find what you need to make your retirement as simple and stress-free as possible.
Start planning early
The earlier you start your retirement plan the better. And the process doesn’t have to be difficult or take a long time. We can help you to structure your affairs to ensure that you can meet your desired level of income when you stop working. Good financial planning should take account of your aspirations, as well as money, because the two are of course intrinsically connected. With ever-changing pension legislation and increasing life expectancy, it makes sense to use all the tax-efficient options available to create a flexible retirement plan.
As part of your financial plan, we'll cover:
- Accumulating savings for retirement
- Investing your retirement fund
- Using your retirement savings to provide an income
With your goals in mind, we analyse your savings and outgoings using a process called cashflow modelling, to find out how long your money will last and whether you’re on track, or look at what you need to do to get there. We can test out different scenarios to see the effect on your retirement plan.
Going through these steps will also help to answer other questions too such as:
- Will I have enough money to retire when I want to?
- Am I going to run out of money in later life or can I spend more now?
- Will my family be financially secure if I go into care or die unexpectedly?
- Am I going to leave a large inheritance tax bill?
All financial assets can contribute to your retirement planning
All financial assets can contribute to your retirement planning. These might include investment funds, ISAs (Individual Savings Accounts), personal or occupational pension schemes and property investments. The most suitable retirement strategy for you will depend on many factors, not least where you are on your financial journey. We’re all living longer, and your savings are likely to have to last for many years to come. We can help you maximise your savings to maintain your standard of living and enjoy a happy and comfortable retirement.
Important information
Advice and product fees may apply. The value of investments and the income from them can fall as well as rise, and you may not recover the amount of your original investment.
