There are life-changing moments when we feel expert advice can make all the difference. Here’s three moments where if you’re unsure you should seek advice: This article is not personal advice. If unsure, please get in touch with us.
Your retirement is unique to you.
You’ve built your pensions and assets over the years. But have you thought about when you’ll retire and how best to use your assets to support this?
I always start with the end in mind. It’s important to understand your goals and aspirations so it’s crucial to sketch out your ‘dream’ retirement.
After a lifetime of work, what do you want to do when you retire and what’s important to you?
I always start with these simple questions:
When do you want to retire?
Why is this date important to you?
Where do you want to retire?
What does your dream retirement look like?
2. INHERITING MONEY
It’s daunting deciding what to do with a cash lump sum.
Ultimately, it depends on your long-term objectives. But, one thing’s for sure, you want your money to work hard for you and be as tax-efficient as possible.
Tax rules change and benefits depend on your individual circumstances so a financial adviser will look at your personal situation and goals. They’ll make sure you’re making the most of your tax allowances and reliefs. After all, less tax means there’s more money left for you. They’ll also consider if you want an income from your portfolio, capital growth, or a bit of both.
3. YOU HAVE NUMEROUS AND COMPLICATED PENSION PLANS.
Having different pension pots can make it harder to plan ahead for retirement. It’s often easier and clearer consolidating your pensions and managing them together.
But you shouldn’t rush into it.
It’s vital to know what you hold, where it’s invested, any hidden benefits you may give up by transferring, or any excessive exit charges that might be applied.
This can be time consuming. So leave it to an expert.
A financial adviser can review all your pensions and produce a tailored plan based on your retirement goals. I'll also help you avoid the pitfalls, or make the most of any historic benefits you didn’t know about.
SO, HOW TO GET STARTED?
If you’re facing a situation where you think personal financial coach could add value, please contact me so we can set up an appointment.
If you’re interested in advice, the process begins with an initial discussion which will last around 30 minutes. Before the discussion I will ask you to fill out some details about yourself to make our discussion more valuable and beneficial for you.
After the initial discussion you can then decide if you want to have further follow up sessions and for those who need a ‘plan’, I can also provide a detailed report tailored to your needs, which will help remind yourself in the future of goals you have agreed to with regards to your finances.