Saving for Retirement
We all have ambitious plans to provide ourselves with a secure income in retirement. However in order to make this a reality we need to put in place a financial plan. A pension remains the most tax efficient method of achieving this.
Retirement planning remains of the few ways in which an individual or company can make retirement provisions in a tax efficient manner. There are a myriad of rules and regulations governing pensions.
Getting independent expert advice will help ensure that your retirement planning is structured to maximize the planning benefits available. Just look at the benefits – Generous tax relief, often free employer contributions, tax free investment returns and the opportunity to take a large part of your pension fund back as tax free cash when you retire.
Most people underestimate how much they will need to save to provide an adequate income when they retire.
In providing pension advice, we look at:
- What do you want to do in retirement? What are your goals? What do you want to spend your money on?
- How much do you need so you can do everything you want?
- What assets and sources of income do you already have, including savings, property and your business?
- What is the shortfall between what you have and what you need?
- What is the most tax efficient way of bridging that shortfall?
