The good news is that we’re all living longer, which means that those reaching 65 today might easily expect to spend around 20 years in retirement. However, if you’re hoping to enjoy your later years, then getting the right financial advice has never been more important. Ensuring that pension pots are used wisely and continue to provide for changing financial needs will be a major concern for many. Nobody wants to face the prospect of running out of funds later in life.
Generating an income in retirement
Working with us will help you see the bigger picture. We will be able to take an objective view of your situation and can offer valuable advice on how to plan your finances and use your pension pot to provide the retirement income you need. There’s a range of investment strategies that can be tailored to your individual needs, which means you can choose to preserve your capital, generate income or opt for a balance between the two.
You’ll want your plans to be flexible enough that they can be adapted to your needs as they change over the years, and we can advise on the right approach for your circumstances.
Care fees
As we get older, many of us will face the challenge of providing care for ourselves or for a loved one. Whilst medical care in the UK is free at the point of need, social care is means-tested. This means that your wealth will be taken into account when calculating what you have to pay towards the cost of your care.
It makes sense to think in advance about how you would fund the expense, if the time came. For many, the solution is to sell or rent out their home to pay the fees. However, there are other options available to you, and we can help you make the best choice for your circumstances.
A pension is a long-term investment and the fund value may fluctuate and can go down. Your eventual income may depend upon the size of the fund at retirement, future interest rates and tax legislation.
THE FINANCIAL CONDUCT AUTHORITY DOES NOT REGULATE WEALTH PLANNING