PRE-RETIREMENT YEARS

Before you retire, you need to consider whether you are in a strong enough financial position to actually do so. As your career progresses and brings with it a higher income you may well begin to naturally find yourself earning more and spending less, so the good news is that it could even be that you are able to retire earlier than you expected.
Even if this is the case, it is still important to be mindful of your outgoings, particularly if you have visions of achieving certain goals or ambitions during your retirement that will need funding.

It’s also important to start considering how you would like to eventually distribute your estate in the most tax-effective way, and whether the amount you would like to leave to your beneficiaries will impact the amount you need to have saved aside in order to enjoy your retirement fully.

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Pensions are not normally accessible until age 55 (57 from 2028). Your capital is at risk. The value of your investment (and any income from them) can go down as well as up and you may not get back the full amount you invested. Some areas of Inheritance Tax (IHT) planning are not regulated by the Financial Conduct Authority. 

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Get in touch with us to see how we can help you plan for your retirement.