Retirement is not an event. It’s a phase in life.
We help you understand your retirement plans, options, pensions and other retirement savings. We help you prioritize and then we analyze multiple outcomes to create the most tax efficient strategy to meet your goals.
Through our advanced planning process we analyze your current and future finances – assets, income, expenses, and help you get on track to where you need to be.
The process will help us to determine the best use of your financial resources. Helping you to maximize your savings.
Retirement Planning FAQs
Retiring early is possible, but it requires careful planning and consideration of various factors, such as financial readiness, healthcare coverage, and lifestyle adjustments. Early retirement may involve additional challenges, such as a longer retirement period and potential reduction in Social Security benefits. It’s crucial to evaluate your financial situation and consult with a financial advisor to determine if early retirement is feasible for you.
It is important to review your retirement plan regularly, ideally at least once a year or whenever significant life events occur, such as a change in income, marriage, birth of a child, or nearing retirement age. Regular reviews allow you to reassess your goals, adjust your contributions, rebalance your portfolio, and make any necessary changes to ensure your retirement plan stays on track.
Retirement savings should be invested in a diversified portfolio based on your risk tolerance, time horizon, and investment objectives. Common investment options include stocks, bonds, mutual funds, index funds, exchange-traded funds (ETFs), and target-date funds. It is recommended to consult with a financial advisor to determine an appropriate investment strategy for your retirement savings.
The amount you should contribute to your retirement accounts depends on your financial situation, income level, and retirement goals. As a general rule of thumb, experts recommend saving at least 10-15% of your annual income for retirement. However, the specific contribution amount may vary for each individual, so it’s essential to assess your needs and consult with a financial advisor.
There are several retirement accounts and plans available, including employer-sponsored plans, which are usually defined contribution schemes. Defined benefit schemes ( which are now less common) SIPP’s QROPS, QNUPS to name a few. Each plan has its own eligibility requirements, contribution limits, and tax advantages, so it’s important to understand the options available to you.
The amount of money needed for retirement varies for each individual based on factors such as desired lifestyle, anticipated expenses, healthcare costs, and life expectancy. It’s important to calculate your retirement income needs, considering factors like inflation, and work with financial advisors or retirement calculators to estimate the amount you need to save.
It is never too early to start retirement planning. The earlier you begin, the more time you have to save and invest, which can have a significant impact on your retirement funds. Ideally, it is recommended to start retirement planning as soon as you start working or as early as possible.
Retirement planning is crucial because it allows individuals and families to secure their financial future and maintain a comfortable lifestyle after they stop working. It helps ensure that they have sufficient income and savings to cover living expenses, healthcare costs, and other needs during their retirement years.
Financial Planning Services
