Planning to retire?
First, let’s shatter a few illusions.
Retirement these days rarely means ‘slowing down’ or ‘taking it easy’. If you are in your 50s or 60s, there’s a good chance that you are looking forward to finishing work and to embracing the opportunities retirement will bring.
Whether it’s travelling, writing a book, learning a new skill or simply finding the time for projects you’ve been putting off for years, retirement now is much more about your bucket list than the weekly shopping list.
Retirement doesn’t have to mean finishing work completely either. More people than ever are leaving their main career in their 50s or 60s and working part-time instead. Some people stay in the same role and cut down their hours, others move into flexible consultancy or non-executive directorship work, and some focus on unpaid charitable work.
They might be taking income out of their pensions, but don’t even think about calling them old aged pensioners.
Finally, Pension Freedoms, introduced in 2015, mean that many people are now able to retire far sooner than they previously thought possible. If you are counting down the pay packets until retirement, or you are looking toward your retired friends with envious glances, now might be time to think again. Finishing work, and attacking new challenges, may be more attainable than you think.
As you approach retirement there are bound to be things you are concerned about, even if you are looking forward to the next phase of your life.
That’s why careful financial planning is so important. We will help you:
- Understand what retirement means for you
- Calculate the income and lump sums you need to achieve all you want in retirement
- Have the confidence to retire, safe in the knowledge that you won’t run out of money and your financial future is secure
- Recommend the most appropriate way of drawing an income from your pension, savings and investments
- Understand the State Pension; including what you will receive and when
- Make the right decisions with any Defined Benefit or Final Salary pensions you have
- Get organised, so others won’t be left with an administrative nightmare should you die prematurely
- Live the life you want, while maximising the amount left to your beneficiaries and good causes, when you die
The key to a successful retirement is to know what you want, and what you can afford.
That’s where we come in.
By understanding your vision for the future, and forecasting your wealth over your lifetime, we can show you what you can (and can’t) do financially. We also optimise your wealth with careful planning, minimising taxes and making the most out of every penny.
What our clients say
We had a five year plan to retire which we started to suspect could be shortened, we just didn’t know how or by how much.
Rebecca looked our finances over and brought our retirement date forward by a bit over four years while maintaining our standard of living and giving us absolute confidence for our financial future.
The approach Balance Wealth take is both logical and understandable to non financial people like us, and Rebecca has a knack of making financial concepts easy to understand by explaining them without resorting to financial terminology. The whole experience was actually quite enjoyable and completely painless.
I wanted to retire early and was having difficulty finding a financial adviser who would help me for a fixed fee rather than a percentage of my pot.
Rebecca produced financial analysis reports that way exceeded my expectations and explained what I needed to do each step of the way. This was done for a very reasonable fixed fee and she saved me many thousands of pounds compared to alternatives.