By Craig Croft-Rayner
Planning for retirement isn’t something you are ever expected to rush. When it comes to making sure you have a clear plan of action for your money once you’re out of the working game, it can be tempting to try and sort it all out for yourself. However, that’s going to mean a lot of money juggling, and you’re going to need to try and make sure your pension savings can sustain you. That’s why it is often the best idea to try and arrange for professional financial advisors to help you put a plan in place.
Milestone Financial Planning offers a financial advisor service to help you plan for pension withdrawals, wealth management and more. If you are looking for pension financial advice, it’s always good to seek impartial, experienced support and guidance. Retirement planning advice doesn’t have to be stuffy or complex, either – and we are always here to help you achieve your retirement goals every step of the way.
Making The Most of Your Pension
Recent changes to pension legislation have given savers more flexibility. Whilst this is a great opportunity it can be met with some hesitation by those not knowing how best to use their pensions in retirement to provide the income they desire. Pensions can be complex beasts. While it may seem easy enough to collect money regularly once you are past the age of retirement, there are a few things you are going to need to keep in mind when it comes to sustaining yourself and your family with the money you have available. What’s more, there are several different types of pension out there. The state pension, of course, relies on your National Insurance contributions – but you may well have a pension pot or two lined up with companies you have worked with in the past, too.
Unlocking pensions and understanding how to map them out can be tricky. What’s more, understanding how retirement pensions are going to last you beyond your working life is never a cut and dried approach. Even if you are a few years away from retiring, it makes sense to seek financial advice for retirement if you already have a few ideas in mind. Professional financial advisors will be happy to take you through each stage of the process one bit at a time and continue to review your plans up to and beyond retirement to ensure any pension savings you have continue to meet your income requirements throughout retirement.
Our knowledge guide on “Withdrawing Pensions” looks at a number of different pension withdrawal strategies based on the modern pension flexibilities now available to those approaching retirement. Which strategy, or combination of strategies to use will depend upon your retirement objectives.
When Should I Start Planning for Retirement?
Many people won’t think about approaching a pension advice service until later in life, and this is understandable. After all, while you are working and earning money, it makes sense that you are going to be focusing on your liquid assets as and when you can make them. However, the fact remains that it is never too early to reach out for pension financial advice.
In fact, the earlier you speak to experts regarding independent financial advisor pensions, the sooner you will be able to start putting money aside for your post-working life. The last thing you are going to want to do is have to head back to work as you get older. What’s more, retirement is there to be enjoyed – you’ve worked hard for your money, and now you have the time to really enjoy it. That might mean going on a dream holiday or ticking a few things off your big to-do list! At Milestone we can help those approaching retirement and give peace of mind that their pension savings are going to last based on their objectives in retirement.
We encourage everyone to consider speaking to professional financial advisors as soon as they have queries regarding pensions. For both public and private pots, we are always on hand to help you consider ways to help save money for post-working life, and to help you map out where your money may be going in the here and now.
Saving money is entirely possible providing you have a clear plan of action in mind. It’s easy enough to just say ‘save money here and there’ – but as we all know, life is sadly never going to be that simple.
Get in Touch With Our Pension Advice Service
Financial advice for retirement is available whenever you need it. Milestone’s team of experienced and impartial advisors work hard to make our clients’ money travel that little bit further. We understand that the last thing you should have to worry about is money once you’re retired. With regular reviews you will know how your pension is standing up to your spending habits. Wouldn’t it be great to just sit back and enjoy your hard-earned pennies without a care in the world?
Start planning with us now. We will sit down with you and take a look at any savings pots you may have set up, any private pensions you can unlock, and any ways through which you can salvage income to support your future self.
Don’t turn a blind eye to pension financial advice. Make sure to get in touch with our team of professional advisors now on 01246 903053 – and your future self will thank you for it!