What do I want my retirement to look like? What’s on my bucket list? How much money will I need? Many of us have no clear plan for what we want from our retirement and even more of us underestimate how much money we will need. Retirement Planning brings focus and clarity to these questions and helps you make the right choices for your future.
However vague your goals for retirement, it’s never too early to be planning ahead. We can help you build a robust and flexible retirement plan. A plan that will consider your future expenditure, the impact of inflation and that will make best use of tax allowances.
A retirement plan which takes into account any gifts you want to make during your lifetime, or inheritance you want to pass on to the next generation. A plan which gives you the flexibility to cope with unexpected events and one that we’ll regularly review to help ensure you’re still on track. Above all, a plan to enable you to do the things you want to do - wherever your retirement may take you.
Planning for the retirement you want
Being tax efficient into and throughout retirement
Whether you’re looking to save as much as possible to build up your pension pot, or you want your money to stretch as far as possible in retirement, it makes sense to pay no more tax than you absolutely need to. Whilst tax is inevitable, paying only what you need to is achievable through proper planning. We will help you take advantage of all the tax benefits and allowances that are available, leading up to and throughout your retirement.
The difference in mean pension wealth between the advised and the non-advised is remarkably large, amounting to approximately £100,000
* The Value of Financial Advice, International Longevity Centre UK, 2017
My retirement income options
How long will my money last? Can I maintain my current lifestyle? Should I choose a lump sum? Should I buy an annuity? Do I stay invested and draw an income? How can I draw income tax efficiently? Do I even use my pension at all for retirement or instead earmark it for my children? When it comes to structuring the most efficient and sustainable income in retirement there are many things to consider, so it makes sense to get professional advice.
Knowing when to retire
Can I retire now? If I work for a few more years will it make a material difference to my income in retirement? How should I prepare for the life changes retirement will bring? Is this the right time to sell my business? Timing is important, but waiting too long, or for something to change that you have no influence over (like the stock market) is not conducive to a long and happy retirement. Financially and emotionally, choosing the right moment to retire will make all the difference to enjoying your golden years.
Life’s big retirement questions
What if I don’t want to retire? If I live to 100 will my money last? Will I need to fund my own care in later life? What impact could stock markets or inflation have on my income? What’s the best way to take an income in retirement? Is now a good time to retire? We can help guide you through life’s big retirement questions.
Need help with retirement planning?
Get in touch today
Investec Wealth & Investment (UK) is a trading name of Investec Wealth & Investment Limited which is a subsidiary of Rathbones Group Plc. Investec Wealth & Investment Limited is authorised and regulated by the Financial Conduct Authority and is registered in England. Registered No. 2122340. Registered Office: 30 Gresham Street. London. EC2V 7QN.