The first thing you should consider is the lifestyle you would like to have in retirement and the Income in retirement you will need to enjoy that lifestyle. Important dates to note, when you should seek advice are when you are 10 and 5 years away from retiring, to make sure you are on track for the retirement you desire.
There are lots of factors to consider, it’s a very special time but it can be a daunting time! Having someone at your side to cut through the jargon and clearly outline the options and the benefit of those decisions. It can make all the difference to what type retirement you will have. With the right information, you should be in full control of when and how you take your money. We’re here to help you understand your options and will guide you as you take the next steps in planning your financial future.
Pensions – Post Retirement – Ready to Retire
The post retirement phase of pension planning should be focussed on how you use your savings pot to compliment your income in retirement. We encourage you to focus on the 4 pillars of retirement income as follows:
- State pension (typically from ages 67 or 68)
- Private Pension savings
- Private assets and Income, e.g. rental income, dividend income, other employment
- Part time employment or Consultancy work
At Murray & Spelman Financial Services, we know how daunting some of these financial subjects can seem at first. Our job is to make seemingly complex financial matters become easily understandable for clients and to help them achieve their goals.
Murray & Spelman Financial Services has all the experience and skills to ensure that your financial planning process will be comfortable and secure.
You can start your journey by getting in touch with us today and we will explain to you more about why pensions are important and how we can best start the process.
We offer some useful tools for people to try out for free, such as our Pension Calculator.
Murray & Spelman Financial Services Ltd is Regulated by the central Bank of Ireland. All details and views contained within this article are for informational purposes only and does not constitute advice. Murray & Spelman makes no representations as to the accuracy, completeness or suitability of any information and will not be liable for any errors, omissions or any losses arising from its use.
Contact Murray & Spelman
If you would like to learn more or ask specific questions, please contact us below. Contact Murray & Spelman Financial Services Ltd over the phone or by email, to find out more and receive a complimentary consultation.