During our working lives, we have regular income to meet daily expenses and will save towards retirement. When we retire, though, a number of things can change.
Whilst the general expectation of retirement planning is that expenses will decrease, for some, initially they can go up and may increase dramatically, particularly if the plan is to travel extensively or to move house.
Whether your retirement fund is as a result of savings, selling a business, trading down with property, within a pension or a combination of these, the main need in retirement is to preserve capital and to generate income. With this change of emphasis will often come a need for a more cautious investment approach.
Retirement may also bring a lower rate of income tax and with advance financial planning or a proper review at retirement, it is possible to take maximum advantage of this.
Our retirement planning services involve thoroughly understanding our client’s plans and to structure their investments in the best way possible to optimise tax saving and deferral, with an appropriate risk profile to enable plans to be fulfilled immediately and throughout life, whatever twists and turns may lay ahead.
Looking for expert retirement planning advice on how to successfully put together your retirement savings plan? Contact Richard Alexander now.