Retirement planning is usually an important part of our financial planning meetings. People in general are living longer today and also the state pension scheme is creaking at the seams. The impact of this is that we will all need much more money to see us through our later years.
Some clients want a life of luxury in retirement! Others are happy with the prospect of not worrying about money, being able to go holidays each year and maybe change the car every few years. While these might not sound like big aspirations, they all take planning as many people today are retired for 30 years and more! Remember they are living off their savings.
At the end of the day, the more you save and the longer that you save for, the better chance you have of achieving the lifestyle you desire.
The government want us all saving for our retirement, and so allow generous tax breaks to help us along the way. When using formal pension plans, you get the following tax breaks:
- Tax relief on the contributions that you make
- You pension fund grows free of any taxes
- You can take a portion of your pension fund out tax-free at retirement.
But just availing of the tax benefits is not enough. We help you to identify the right pension structure for you based on your specific circumstances and ultimately find the right products and investment portfolio to suit your circumstances.
It’s a long road to retirement. We help you develop your retirement plan at the outset and will meet you regularly to ensure you stay on course to achieve your objectives.
And once you reach retirement age, we will then help you invest your retirement fund wisely in more tax efficient structures.
If you would like to find out more about how we help our clients to achieve their retirement objectives, please give us a call.