How to get the best advice about pensions

Finances will be uppermost in your mind as you start planning long term goals.

Financial security is everything. Our needs change as we get older and we want to look forward to a greater sense of freedom with a lifestyle free from pressures.

In a survey about pension freedoms, 94% of people acknowledged the importance of taking advice before accessing their pension.

The Government’s Pensionwise online resource is a good place to start. Here you’ll find out the basics about leaving your pension pot untouched, taking cash out regularly or drawing money out in chunks. It pays to make an appointment and you will get a 45-60 minute phone call to help you understand your options.

For specific advice relevant to your personal situation, you’ll need the support of a good financial adviser.

Arrange a financial wealth check

Recent changes in pension legislation has meant greater choices for retirees.

Constant pension law reforms make it essential to receive the continual advice of a specialist pensions adviser to help you benefit whenever regulations change. Your financial adviser will help you find the best strategy to suit your individual circumstances whenever these changes mean you need to consider other options.

The key objective is to generate the maximum retirement income and make the most of your money.

The first task is to calculate exactly how much your pensions are worth and what they will pay you.

Your financial adviser will help you keep an eye on your pension pot to make sure you achieve the right balance: taking out cash to enjoy life while leaving enough invested to last your lifetime.

You will have numerous questions to ask your financial adviser – all related to your personal situation.

  • There are more older people working today than ever and second careers are common. When you’ve been successful in your career, you may like to try something new. Perhaps you’d like to start all over again and take on a new role learning and practising different skills. 60 is not the great age it once seemed. You may decide to draw your pension now or leave it invested until you stop working. If you like the idea of retiring gradually rather than abruptly this could suit your lifestyle and your finances.
  • You may wish to help younger family members invest in their education or start out on the property ladder. Helping families in the most beneficial way for them and for you is something to discuss with your financial adviser who will advise on the tax implications.
  • You will be advised on how to protect your wealth and your financial adviser may discuss updating your will or put you in touch with an estate planning specialist.

Choose a financial adviser you feel comfortable with, who understands what you want to achieve and who you feel confident has your best interests at heart.

What to think about when planning retirement finances

Our pension pot and other investments will fund our lifestyle as we get older. As independent and active over-55 year olds, we wish for:

  • An active life filled with hobbies, projects, sports, fitness, leisure, rest and relaxation.
  • A great social life. Time spent with loved ones and friends
  • Excellent health, well-being and happiness.

These aspirations are all subjects to discuss with your financial adviser.

Prosperity in our golden years

Prosperity comes in different forms. It could relate to an abundance of money and possessions. And it could equally mean an abundance of time. Perhaps when earning a high salary, we lacked the time to enjoy it to the full. Now that time is here and we are ready to reap the rewards by using our pension pots wisely to live a long and happy life. Your financial adviser will understand your plans and help you reach your goals.

Downsizing with Arbor Living means moving to:

  1. A beautifully styled home which is well-equipped for an easy and comfortable way of life
  2. A spacious, well-built bungalow in a safe and secure, gated parkland environment
  3. A single level home with low running costs and minimal maintenance freeing up money to do things you enjoy.

In an Arbor Living home, you will gain the space to entertain, study, relax and dine. Every park home is designed with plentiful storage space in the kitchen, utility room, bedrooms (wardrobes) and hall (wardrobe). While enjoying this luxury, you have the comfort of knowing your home running costs are lower and you have released equity from your former home.

Would you like to know more? Why not book a viewing?

Luxury park homes by Arbor Living in Lymm

Come and see the beautiful show homes and ask us about park home living in Cheshire.