Retirement Planning

Retirement planning is a particularly important kind of financial planning.

Retirement planning refers to the allocation of finances for retirement. This normally means the setting aside of money or other assets to obtain a steady income at retirement. The goal of retirement planning is to achieve financial independence, so that the need to be gainfully employed is optional rather than a necessity.

Whenever you decide to retire, perhaps in your 50s or when you reach the age of 60 or 65, increased longevity means that a couple may have to sustain the lifestyle of their choice for up to 20 or 30 years or more. It is therefore vital to ensure not only that there are the funds to support retirement but also that they will not run out too soon.

This means taking into account such occupational and personal pensions that may be available, and seeking to maximise pension benefits wherever possible for example by securing the best pension offers available on the open market.

It also means designing suitable investment portfolios to generate maximum returns, consistent with individual attitudes to investment risk, to counter the threat of erosion through inflation of capital values and purchasing power of income.

Careful review of financial assets can therefore provide in advance an indication of the resources that might be available at and through retirement, and this in turn can be an important influence in establishing and clarifying retirement objectives.

With this in mind, we would complete a Retirement Planning Report that provides an Estimate of Benefits, Shortfall Analysis and Cost of Delay for any investments, pensions you may have including State Pension Benefit. This enables us to agree a financial plan to meet your retirement planning goals.

At retirement age, we can advise on a number of different options for managing pension payouts, such as a lifetime annuity or an unsecured pension. Depending on your circumstances and preferences, we can combine retirement strategies and use them in conjunction with phasing in retirement from work.

Everything we do goes towards helping you enjoy the new lease of life retirement brings, with no financial concerns.

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