Taking control of your retirement plans can be made a lot easier when you know how.
If you’ve been saving the right amount into your pension for a number of years, hopefully much of the hard work has already been done. It is now vitally important to make sure that your pensions are well managed and that you have a financial plan in place to guide you through the transition as you enter retirement.
Here at Raymond James Investment Services Market Harborough Branch, we understand that pensions make a vast difference to people’s lives as they essentially determine when you will be able to retire and what sort of lifestyle you can expect once you enter those golden years. Circumstances can change vastly so there is still plenty to think about in retirement as your pension remains invested. This is why having a planned approach with regular face to face contact is so vitally important and having a detailed look at cash flow analysis could highlight potential pitfalls before it is too late.
Whether you have been saving for many years and accumulated numerous pension schemes, or have already started to experience retirement there has never been a better time to get a second opinion on your pension arrangements.
Plans can change in an instant which is why it is vital to take account of unanticipated one-off expenses as well as anticipated spending trends as your outgoings will likely change throughout retirement. Bear in mind that inflation will affect how much income you need to live off, as prices tend to rise over the long term, it is vital that your income also increases to maintain your standard of living.
It takes a planned and holistic approach with appropriate risk management to ensure that you remain on track for retirement. Even once you enter retirement your pension may remain invested so it is crucial to maintain regular, face to face contact with a financial adviser to ensure that the investments take into account your changing circumstances and are sufficiently diversified.
So if you need help with your pensions and retirement plans, contact us today for a free second opinion.