Retirement Planning

Discover the tools, resources and strategies to help you meet and maintain your own retirement Planning

Once you reach retirement, often having spent many years saving toward the goal of financial independence, it is important to utilise the resources you have accrued through savings and pensions as efficiently as possible to ensure you are able to meet your retirement goals effectively, not only immediately upon retiring but also for the rest of your life. Our financial advisers can help to:

Consider which type of pension will best suit your retirement including annuities, drawdown, phased retirement or any combination of these and how they may need to change through your retirement
Consider the impact in your retirement of any company pensions and state pension entitlement. When these will commence and if there is a need to bridge the gap
Review if you have the option to/if you should take tax free cash from your pension and if so, how best to make these monies work to assist you in achieving your goals

Apply appropriate investment strategies to other non-pension investments to work in conjunction with your pension benefits
Review your changing needs through retirement as expenditure rises and falls and possibly rises again. Assessing the impact of such changes through cash flow modeling
Assess the financial security of your spouse and/ or any dependents in the event of your death
Understand how you may be able to pass on your pension wealth to future generations

The benefits of retirement planning

It is essential that once you decide to retire you do so on your own terms. There are many possibilities and options in retirement and your objectives may be met from a multitude of sources including company pensions, private pensions, investments and/ or investment property.

It is important to consider how the above will work in conjunction with each other and to maximize the efficiency, effectiveness and tax benefits of each of these as far as possible. As we all live much healthier and longer lives it is also important that you not only consider your needs in the early years of retirement but also the need to maintain your expected standard of living in the longer term and the significant impact of inflation.

Legacy is also a big part of your retirement years and leaving money to loved ones or charitable causes is something you might wish to consider.

Our advisers will be delighted to run through all your options and assist you in implementing the right plan for you and monitor this going forward to keep you on track.

How East Anglian Financial Planning can help you

We want to help you enjoy your retirement to the fullest, maintaining your desired standard of living and protecting your loved ones. Get in touch with one of our advisers today at 0333 207 2151 to learn more about our retirement advice services and discover how best to achieve your goals.