Getting Finances Fighting Fit

Getting Finances Fighting Fit

Work out your
retirement income

Knowing how much money you will have to enjoy is vital in retirement planning. You should do this at least two years before your planned retirement day, but the earlier you can do this, the easier planning for retirement can be.

  • Check your state pension forecast – Many people think they will automatically get a full state pension. A state pension is calculated by the amount of National Insurance contributions you have made, and to get a full pension, you will need to have contributed 30 years. It’s a good idea to get a state pension forecast, and you can do this at the GOV.UK website.
  • Add up your pensions, savings, and investments – As well as your pension, it’s worth checking all your savings and investments (including ISAs) and totalling up their current values.
  • Get a property valuation – Your home is a valuable asset. Getting your home or other properties valued could provide an extra boost to your potential retirement-income through equity release.

Budgeting for
your lifestyle

There are several factors to consider. You may have income from part-time employment; equally, you could choose to give up work altogether and tick off the items on your bucket list.

  • Downsizing the family home may be an option for income in retirement. Moving to a smaller home could release the equity you have in your property, and also could be cheaper to run.
  • You may want to help children or grandchildren financially by paying for university fees or helping them with a deposit for a home of their own. You may also have to plan for a time when you might need to pay for help around the house, and for the likelihood of needing medical and nursing care in your later years.
 
 

Man Worrying About Debt

Clear your debts

When planning for retirement, it’s advisable to try and be as free of debt as possible when you reach retirement. Your income is likely to go down when you retire so any fixed repayments like a home mortgage, credit card bills or car loans will take up a more significant share of it.

If you have money to spare, pay off the debts that charge the highest interest rate first. Using this strategy is the most efficient way to clear your debts.

Many people use any tax-free pension cash to help clear debts such as their mortgage or loans. By doing can help you to prepare for retirement and enjoy any future pension income, rather than paying big bills at retirement age.

However, if you belong to a defined benefit (final salary) pension scheme, taking a lump-sum payment could be complicated or expensive, so always consult with a financial adviser.

 

Peace of mind

We work with all major UK pension providers, ensuring your retirement is in experienced hands.

Our retirement planning service can advise on:

Pension Annuity

We can advise on the most suitable annuity for your circumstances and search the whole market to find you the best deal. By checking and assessing all annuity providers, we could get you more money in retirement.

Pension Consolidation

Moving your personal pensions into one policy could potentially make it easier to plan for retirement and reduce the chances of losing track of your money. We can advise on whether pension consolidation is in your best interests and if you can save money when it comes to pension drawdown by consolidating your personal pension.

Pension Drawdown

Our retirement planning service can advise on the best options for drawing down your pension. The service could include making the most of tax-efficiencies, searching the market for a better fund and effective management plans to help make your money last in your retirement.

Retirement Planning

Whether you have ten years or 2 years before you want to retire, we can help and advise on the best strategy to maximise your retirement funds. We’ll deliver all your options and whether buying an annuity or pension drawdown is the best for you.

What our clients say



Don’t Delay
Start planning for retirement.

The earlier you start our Retirement Planning service, the sooner you can begin to look forward to a comfortable retirement. The last thing you will want to discover when reaching retirement age is that despite saving into your pension, poor investments have left you short.

Our recommendations may include moving your personal pension to a more suitable fund, advising where you could make extra contributions and provide you with the options for pension drawdown or buying an annuity.

 
 

Advice at a time that suits you

Convenient Advice

Unlike traditional Financial Advisers, we aim to be more flexible and available when you need us. Our service is telephone and email based, allowing us to work for you at a time that is most suitable for you. This flexibility gives you access to one of our fully qualified and FCA regulated Independent Financial Advisers in the comfort of your home and without the need to book an appointment weeks in advance.

Although we are an online and telephone business, your details and information are fully secure. Any data you provide through our website is encrypted and also shielded with multiple layers of security for your protection.

As a forward thinking online & telephone based business, this enables us to keep our fees low, so that we can pass those savings on to you, hopefully taking you closer toward the retirement you are planning.

About us

Retirement planning experts – ensuring your retirement is in experienced hands

ISO 9001 accredited – meeting the international standard for quality management

5 Star Trustpilot rating – consistent positive customer feedback

Independent & transparent – we are not tied to a single pension provider

Authorised and regulated by the Financial Conduct Authority – for your
peace of mind

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