From pensions to investments and tax, there’s lots to think about so here are some tips to help you set some priorities.
An ideal place to start is by understanding the lifestyle you’ll want and the things you’ll want to enjoy when you retire. How much would it cost and where would you find the money?
Pension income can come from different sources. From the state pension to personal and workplace pensions, each can play a role in funding your retirement income.
The younger you are the more chance you have of building the savings you need. But the later you leave it the more you have to set aside.
Cash loses its value over time as inflation reduces what you can afford to buy. Investing involves more risks but can beat inflation over the longer term helping you reach your retirement target faster.
Tax efficiency makes your money work as hard as it can towards your future. Pensions are the most tax efficient way to save but come with restrictions. ISAs are less tax efficient but all withdrawals are tax free.
Retirement planning can be complex and these tips are just a starting point. Talking to a professional can give you peace of mind that you’re on the right track.
Whether retirement feels like a long way off or just a few years away, our experts can help you create a financial plan that provides flexibility and security for when you retire.
Whether you have a specific question about your money or want ongoing support from a professional, we have a variety of options to help you save for retirement.
A carefully designed financial plan can give you the freedom to do even more of the things you want to do and maybe even things you never thought possible.
Each of our Financial Plans provide guidance and streamlined advice around a commonly asked financial question for people with non-complex needs.
Gain clarity around your money situation with Financial Coaching. Speak to a real, qualified expert free of charge, who will help you take the next steps with confidence.
Gain a better understanding of your current situation and the options available to you. Get in touch today to arrange a free consultation with one of our Financial Professionals.
0207 739 8200 (Open Mon-Fri, 9am-5pm)
Charles Stanley is not a tax adviser.