Retirement Planning
It is now possible to spend a third of your lifetime in retirement. Good financial planning will not only help you to enjoy your retirement, but it could also enable you to leave a legacy for future generations. If you are about to start saving towards your retirement we will help you to establish how much you will need and by when, taking into account your circumstances and future aspirations. With an understanding of how much you need to save, you can then begin to explore the most appropriate way to do it. The range of planning solutions may include different savings vehicles, such as Personal Pension Plans, Stakeholder Pension Plans, Self-Invested Personal Pension Plans (SIPPs), Occupational Schemes or other savings routes such as Individual Savings Accounts (ISAs). Once a vehicle has been selected, we can identify the most appropriate investments to be held within the plan, taking into account your investment experience, risk tolerance and desire for investment control. If you have already started saving or are still in the process of accumulating funds you may have built up retirement savings in different arrangements over the years, particularly if you have changed jobs or employment status. You may, therefore, require our support to explore the potential benefits of changing or amalgamating any existing plans. If you are approaching the point at which you wish to start taking benefits from your retirement savings or have already begun to take benefits we can help to guide you through your planning options and/or manage any ongoing arrangements. This stage may include the use of: Tax-free cash Annuity purchase (including Open Market Option) Fixed Term Annuities Impaired Life Annuities (due to particular health problems) Enhanced Annuities (based on lifestyle factors such as smoking) Drawdown Phased Retirement Much of the process will require ongoing advice and Chester Financial Wealth Management is here to guide you throughout both the 'saving' and the 'spending' phases. The value of investments can go down as well as up and you may receive back less than you originally invested.