For much of our lives, retirement seems a long way off. Yet it suddenly appears on the horizon much faster than some people have prepared for. If planning doesn't start early enough it may lead to major financial difficulties later in life unless you have appropriately prepared through retirement planning. That is a specialist skill area of Aventur Wealth. No matter what your current age or your financial circumstances, we can help you plan for your future.
What is the service?
Planning for your retirement normally involves:
Making arrangements for some form of pensions-related savings. That typically results in you having a pot of money at the end that is used to buy you what’s called an annuity, something that will generate a regular income;
Taking into consideration other savings such as deposits, ISA's etc so that they might supplement your standard pension provision income;
Considering a provision for things such as premature death, long-term illness or long-term care.
In reality, your final retirement planning profile might consist of a number of different individual products.
Why you may need it
It is very easy to under-estimate the cost of living in situations where you have a relatively comfortable level of working income. Once you have retired, however, the reality of those costs might hit home if your income is drastically reduced. Unless you have a sensible retirement plan in place, you may end up struggling throughout your retirement years.
How does it work?
We will sit down with you and look at a number of your current life factors. That might typically include:
Your age and occupation;
Your current earnings level and your disposable income, including any property values and outstanding debts;
Any existing pensions and investment you might have;
Your planned retirement age and post-work life objectives including whether your retire completely or carry on with part time work.
We will then analyse that and give you an indication of what your retirement outlook is in financial terms and how it might be improved.
There are a many choices available to people preparing to retire. Simply choosing a comparison site will not provide you with all the answers or considerations but they can provide a good starting point. Other issues may include health, marital status, inheritances and children.
Retirement is a major life change for most people. Increasing life-spans and improving health standards means that you might, hopefully, be facing many healthy years of it. It’s therefore important that you have some form of income during those years to help you enjoy that time in your life. That involves you in thinking and planning ahead for it.