Everyone needs a plan for retirement, just not everyone needs a retirement plan (pension).
The decisions you make about your retirement will have long-term consequences and you need to make informed choices. The pension freedoms introduced in April 2015 make this more important than ever, as people retiring with defined contribution pension savings now have much greater choice about the way they access their funds, including buying an annuity, leaving money invested and drawing an income from it or taking the whole amount as a lump sum.
The biggest part of the retirement plan is working out what retirement will look like to you and reviewing this regularly. If you want to retire to Monaco and spend your life playing golf, this pattern of living is likely to attract a certain premium, and therefore require a certain level of funding.
Quite a lot of people don’t really ever want to retire, but go part-time, or volunteer, or even change career entirely, get a PhD and become a professor in retirement!
Whatever your retirement ambitions, we can tell you how affordable they are and make sure that, once we’ve got your ambitions properly defined, the plan is sustainable.
Whether you need to establish or review your existing strategies, for yourself, your family, or your staff; we have the skills and expertise to ensure you make the most of your retirement.
What might a £30K income in retirement look like?
The value of investments can go down as well as up and you may not get back the amount you invested.
The purpose of this graph is to provide technical and generic guidance and should not be interpreted as a personal recommendation or advice.