Your retirement income will depend on several major financial decisions. These range from planning your pension many years in advance, to deciding how to use your accumulated funds at the point of retirement.
These questions should be addressed as soon as possible in your working life.
What will be your source of income after you retired?
How much will you need?
How much money will you be able to access?
How long will you need it for – that is, how long might you live?
These are pressing questions no matter what your age, and they become more urgent year by year. can advise on efficient ways to save for retirement and then implement those recommendations.
Pension reforms have given us all more freedom to use our pension savings as we like. For instance, it is no longer compulsory to buy an annuity (a guaranteed annual income for the rest of your life, in exchange for a lump sum from your pension pot). However, this greater choice has created uncertainty .
Financial Choices can explain the different retirement options and what they mean for you and then help you select the most suitable solution.
Modern methods of taking pension income require regular review as often your circumstances change. The partners at Financial Choices will review your situation regularly to check you are on track for a comfortable retirement.
We believe independent financial advice taken before you retire, or at the point of retirement, is likely to leave you substantially better off in the long term. We will take into account your precise circumstances, your needs as an individual and the options available the whole of the market. Such advice can pay for itself many times over by enhancing your income throughout your retirement years.