Retirement – nearly there!

This is the fourth in the “Retirement Series” and this is when it starts to get exciting (if you have been doing your planning).

Retirement – nearly there!

You probably have around 5 years until your selected retirement date or being able to access your state pension. You are much more interested in your retirement options and want to ensure you are making the right decisions to maximise the income you may receive in retirement.

You may need help to think through:

  • maximising your contributions to your pension ensuring you don’t exceed your annual or life time allowances
  • modelling different income requirements in retirement ensuring you take income in the most tax efficient way based on your circumstances and current tax regulations
  • maximising death benefits for you and your spouse, partner or family
  • utilising all tax allowances available to you
  • Ensuring that your money will not run out during retirement taking account of one off expenses such as holidays or family weddings

At this stage you are likely to want to optimise your plan to take full advantage of any unused tax allowances and minimising the investment risk as well as potentially protecting the pension pot already built up.

The tools I use give you a clear picture of your financial future to help you make the right decisions for you.

Next I discuss some of the choices open to you as you decide to spend less time at work.

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