Pension Advice Swindon
Pensions can be a daunting subject, but the reality is, we all need an income when we retire.
Fool proof planning for creating income streams that help you in retirement can help you save tax too, which leads to a win-win deal.
For many, the provisions they have in place may not be adequate and a different approach is required. Hence, an expert for pension advice in Swindon is needed to understand your purposes.
Are you saving enough for your retirement?
This question is commonly asked about pensions. How much should we save for our golden years when we retire, and when do we want to retire? And there isn’t a simple answer. It depends on several variable factors and is incredibly personal. Each of us wants a different lifestyle and will need different sized pots to match the requirements of our later years.
With a full state pension providing just £179.60 per week, which you can receive from age 66, rising to age 67 from 2028*, it is fair to say that without additional private or workplace pensions, many of us could end up living in relative poverty.
When supporting our clients with their financial planning, it is important to establish goals/objectives to enable us to construct a plan to help them achieve favourable outcomes, and the following are some of the questions we ask:
When would you ideally like to retire?
This question is often a difficult one to answer as for most of us, the thought of not working is a daunting proposition as the routine of working life becomes an integral part of who we are and gives us a sense of purpose. Conversely, for some, being able to stop working and to have all the time we need to enjoy the things we like doing is an exciting proposition.
The fact is, the earlier you wish to retire, the more money you will need and the earlier you start saving, the bigger the pension pot you will have when you do decide to retire.
How much income will you need into retirement?
We can help you identify how much income you will need at your retirement age to achieve the lifestyle. We need to know what you want your future retirement to look like as well. There are three main different approaches to retiring, illustrated below:
Retirement Plan
Pension levels/contributions needed?
We use analytical data to predict how much savings need to be contributed to your pensions and this includes the current value of any pension pot you may have and any contributions from yourself/employers. Our approach is to use realistic growth targets to ensure that the likelihood of you having a shortfall in income when you retire is minimized.
Looking for Pension Advice in Swindon and surrounding areas including Chippenham? Your Pension Advisory Planning Is Here To Provide You With The Best Plans To Secure Your Future!
Future Planning works closely with our clients on their journey to help them put in the best possible position so that they may achieve their goals and retire as early as possible, as we all deserve the opportunity to enjoy our future years fully.
Here at Future Planning, our Financial Advisors have expert knowledge in pension arrangements and have helped many people with varying needs by devising plans to identify their goals and how those goals can be achieved.
Whether it is an occupational pension scheme on retirement, a self-invested personal pension or a defined benefit pension scheme, we have experts on hand to talk you through the pros and cons of each one and relate the facts to your circumstances. Our advice is tailored specifically to your needs and we will set out our pension advice in a comprehensive financial planning report to help you along the journey.
Pensions Advisory Service
Pensions can be a very effective tool for generating an income into retirement through income tax relief but as well as this, help mitigate against potential inheritance tax liabilities.
Whether you are an employee, a company director or already retired, we can help you and would be happy to offer a free consultation.
Give yourself the retirement you deserve. All you need to do is give us a call and let our pension advice specialists help you achieve your life goals.
More often than not, your journey will include loved ones and our Pension Advisors will also consider succession planning within the implementation of the planning to ensure that your hard earned wealth ends up in the right hands when you pass on.
We work with clients both near and far, as whilst we are based in Swindon in Wiltshire. By utilising the latest technology, we help clients beyond geographical restrictions.
Let us help you identify your retirement goals and what we need to do now to get you there – the earlier we do this, the more realistic your chances are of getting there as soon as possible. Pick up the phone and give us a call – the initial consultation for pension advice is free of charge so it only takes a few minutes of your time.
