Your Life Stages: Approaching Retirement

Approaching retirement is all about planning, predicting your income needs in the future, reviewing your existing pension arrangements and addressing shortfalls, as and when they occur.

People at this stage of life who just assume everything will be okay are often very disappointed.

The truth is, the need for advice has never been greater. Hopefully, at this stage, mortgage and larger loan commitments have ended, dependent children have now become self-reliant and you are able to save more aggressively than ever before.

Planning for retirement is not all about pensions. A holistic approach to investment and retirement planning should take into account your ability to save, your need for income, projected expenditure, income tax, tax efficient savings, estate planning, inheritance tax considerations and in some cases moving money offshore. Clients at this stage may also inherit from their parents or other elderly relatives.

Areas to consider:

  • Individual Savings
  • Accounts (ISA’s)
  • Open Endend Investments (OEICS)
  • Bonds (Onshore/Offshore)
  • Unit Trusts
  • Pensions
  • National Savings
  • Tax and Estate Planning*
  • Trusts (discretionary/flexible/absolute)*
  • Will writing*
  • Long Term care provision
  • Spousal By-pass Trusts*
  • Wealth Management**

*Tax planning and Estate planning are not regulated by the Financial Conduct Authority
**Wealth Management is available to all clients at all life stages but is subject to minimum advice charges

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