Retirement Planning Advice
It’s not as far as you thinkThe state pension age is rising all the time as it is re-aligned with our improved life expectancy.
Due to the vast number of pension reforms made by various UK governments, retirement planning has become even more complex than ever.
The recent pension “freedom” legislation has also opened up further tax minefields to avoid and has regrettably led to further industry mis-selling. Something we warned would happen.
Your retirement may seem like a long way off, but time flies by as well all know. Here are three important questions for you to consider today:
- When do you need to start saving for your retirement?
- Do you know what age you’ll be able to retire at?
- How much money will you need to live off when you do stop working?
If you can’t answer any of the questions above with any great certainty, then retirement planning needs to be at the forefront of your thoughts today.Sowing the seeds for your retirementWhen you contact us about planning for your retirement, you will get clear, customised advice so you can make the decision you feel is right for your future after work.
Whether you have money to invest, other assets such as property, or haven’t made any provision for your retirement yet, we can lay out all your tax efficient options in an easy to understand way.
With actuarial projections showing that someone born in 1964 will have a life expectancy of 88 years and a state pension age of 68, you can clearly see that there is now a 20 year gap that needs to be plugged.*
A life of ‘scraping by’ or even poverty is the last thing you want when you’ve worked hard all your life and finally retired.It’s never too late to start planningEven if you think you may have missed the boat when it comes to planning for your retirement, there may still be a number of options open to you.
One thing’s for sure, sitting back and doing nothing isn’t going to give you any peace of mind as you advance in years.
You may not be aware of all the pension possibilities available to you.
Please Get in touch for an initial consultation and get the facts to help you make a decision about your retirement planning. Together we can get it back on track.
*Source: Daily Telegraph 15th May 2012