Retirement Planning
Saving towards your retirement income will be undoubtedly the largest expenditure in your lifetime and the most important part of your financial plan.
Many individuals assume that the contributions accrued throughout their working life will be more than enough to facilitate a healthy income in retirement however for many, this is simply not the case.
The “good old days” of having a comfortable final salary pension are fast becoming a thing of the past and basing your entire pensionable income on one company can be a very risky move given the recent pension collapses and underfunding witnessed globally.
A Private Pension plan should form around 40% of your retirement income and given the huge range available today it is important to make sure that you chose the right one for you.
As life expectancy is increasing globally the amount that you need to save so that you have a dependable income is also increasing so the sooner you know the facts the better.
Have you considered the following?
- When would you like the option of stopping work?
- What amount of income will you receive when you get to retirement age?
- What happens if my work pension needs to bailed out?
- How much will you need to maintain the lifestyle that you want?
- What happens to my pension pot if something were to happen to me? How much gets passed on to my family?
There are many points to consider when safeguarding your future financial needs, particularly when it comes to understanding how much income you will receive when your paychecks stop. Please get in touch today and we can arrange for one of our advisers to contact you.
