Pensions
Planning for tomorrow, today
It is never too early to start thinking about packing up and taking off to live the dream.
All it takes is a plan. Putting it off until tomorrow, will simply delay the inevitable. Remember, it is better to do something than nothing at all.
It’s your journey
The big question, is how much do you need to live a comfortable retirement? Everyone’s dream is different. What you value will be different to everyone around you. But money and how you save it is the overriding factor to a more financially secure future. Taking the first step is easier with support. As experienced retirement planning advisers, our guidance is designed to find your right way forward. We can:
- help you work back from your retirement aspirations, calculating how much you realistically need save;select products that are flexible enough to adapt to your changing circumstances between now and retirement;
- find the perfect blend for your needs today, and your plans tomorrow.
Think before saving
Mounting pressures on people to build a nest egg for retirement can sometimes force people down the wrong path. It’s important you develop a total savings strategy that will reduce the risk of losing money you set aside, but equally will maximise growth. As always, it’s about balance.Parking some of your money in a pension scheme can deliver great tax breaks. As well as being tax efficient for new growth and income, you will get an extra 20% boost courtesy of our Government. Higher rate taxpayers can claim further tax relief through their tax return. Pensions work like an investment wrapper, so are similar to an ISA. The difference is in the limits and benefits. Like any investment, you will choose which funds to invest your pension pot in. Higher returns and higher risks are likely to go hand-in-hand. However, these are long-term plans, so your pension performance should smooth out fluctuations in investments. The downside of investing purely through a pension fund is it can restrict how and when you can access your money. Talking to a specialist retirement adviser can help you balance a pension with other more accessible investments and cash savings.
Approaching retirement
Suddenly, the retirement years are around the corner. You’ve thought things through, filled up the pension fund over the last thirty to forty years and your plans are swiftly all but a reality. Soon you’ll be living off your pension. But what exactly does this mean?When retirement time arrives, choosing what to do with your saved money requires careful thought. For many, the decision is easy – replace your work income with a pension income. It pays to choose carefully, ensuring you enjoy every penny you’ve invested and saved.
For more information on retirement planning please complete the client enquiry form and one of our advisers will call you back to arrange an appointment. Alternatively you may telephone us on 01254 823 395 or email us at info@travisyates.com
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