Retirement – Greater freedom

This is the sixth in the series of eight blogs regarding retirement – Retirement,  greater freedom. If this isn’t you, check out the other blogs in the series that cover the other stages in the retirement journey.

Retirement – Greater Freedom

You are probably fully retired now and receiving your state pension as well as generating income from your pensions (and other investments). In some cases you may feel you have no need for a financial adviser however regularly reviewing your personal situation and plan is worth both the time and the money.

 You may need help to think through:

  • changes in your personal circumstances and how they may impact your pension
  • keeping the plan fit for purpose applying any flexibility you need around your income needs
  • incorporating your state pension
  • drawing income from your pension pot tax efficiently based on your changing circumstances and current tax regulations (which do change)
  • ensuring your money doesn’t run out during retirement
  • planning for any future expenditure
  • thinking about when to delegate financial control
  • planning funeral expenses
  • making plans to pass on wealth to the next generation(s) tax efficiently

Hopefully you will be enjoying life doing the things you had planned to do, safe in the knowledge you have your finances under control and you will not run out of money if you follow our agreed spending plan.

We continue to ensure you can take the maximum income from your pension pot at the same time as using your tax allowances effectively and where possible making sure you take the minimum investment risk to achieve your goals.

Next time, I will talk about managing your money as your life starts to slow down.

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