Here at The Lost Coin Financial Planning Ltd, we provide retirement planning in Yate and across the surrounding areas. Retirement planning is essential to ensure you can live comfortably during your retirement period, whether that’s through investment or money management. Our independent retirement planning service is designed to provide you with both advice and practical services to help support your retirement goals. We work with all types of clients and cover things such as self-employed retirement planning, low income retirement planning and much more.
We are dedicated to offer impartial advice and guidance to help you make the most of your retirement. Whether you want to sit back and relax or enjoy a set setting lifestyle, we can work with you to ensure your retirement plan works for you. We have worked with many clients across Yate over the years providing bespoke retirement planning. No matter what your requirement plan requirements might be, you can count on The Lost Coin Financial Planning Ltd. For more information on our Yate retirement planning service or to book an appointment with us, please don’t hesitate to get in touch.
The Four Stages of Retirement Planning
1) Early years – how much should I save?
You are under age 55 and maybe have a number of different types of pension from past and present employers. As an example we have one client who currently has 13 pension plans across seven different pension types – each with their own set of rules regarding contributions, investments, charges, retirement age, retirement options and death benefits. This is quite unmanageable and so we are working on reducing this to nine plans across six pension types. Further rationalisation at this point would incur significant transfer penalties or represent poor value for money. Each pension is looked at on its own merits and the pros and cons of transferring or switching funds are discussed and agreed with you before proceeding.
Maybe you are self employed or an owner Director of your business with some old pensions but your focus is on building your business. We love to convince pension sceptics of the many great benefits of pensions for business owners, both in helping their business grow, drawing a flexible income and then later in passing wealth to family members tax efficiently for generations to come. We are currently working with an accountant on advising his client to sell some commercial land to his pension scheme, minimising capital gains tax, and releasing the capital tied up in the land to pay off his Director’s loan. The rent can then be paid into his pension free of income tax. Take a look at our Client Stories for further ideas.
2) Pre retirement – cash now or later?
You are at least 55 years in age and realise that you can draw on your pensions, even though you are still working. Should you take your tax free cash to pay off your mortgage, or buy that dream car, or that overseas holiday, or maybe you would love to help the kids move out by gifting them a deposit? Cash flow planning shines a light on this, showing you visually in graphs and in numbers what impact that will have on your retirement. You can change the dates and amounts at ease until you are happy with the outcome.
3) At retirement – what are my options?
You are looking forward to retiring in the next 12 months, perhaps you have received your pension wakeup pack. Now is the time to seek some independent financial advice as decisions made at this point can affect your income for the rest of your life. There are many options to choose from and often a mix of options is the best choice. You can obtain enough guaranteed income to pay your regular bills whilst keeping some flexibility and investment growth potential for luxury purchases or passing on wealth to family members on your death.
This is the one occasion in life when all those health issues or vices such as smoking and excessive drinking can work in your favour, by applying for an enhanced pension annuity which takes all these factors into account. It is also the time to re-check your state pension records and pay enough National Insurance credits to maximise your state pension.
4) Post retirement
For those who choose to draw on their savings and pension income whilst keeping their monies invested then annual reviews are necessary to make sure your money will last your retirement years. Often we recommend increasing spending on family holidays and leisure activities with those you love, whilst you keep in good health. You may also wish to take steps to reduce the size of your taxable estate on death, take a look at our Estate Planning page.
A pension is a long-term investment. The value of your investment can go down as well as up and you may not get back the full amount you invested. Past performance is not a reliable indicator of future performance. Your pension income will be affected by a number of factors at the time of taking benefits. The tax implications of pension withdrawals will be based on your individual circumstances, tax legislation and regulation which are subject to change in the future.
Retirement Planning Services Yate
We provide a wide range of retirement planning services in Yate and across the surrounding areas. Retirement planning is all about you making the most of the money you’ve earned during your life, allowing you to live the way you want to. Our modern retirement planning practices are designed to help maximise your money and reduce tax liabilities where possible. Some of the retirement planning services we regularly offer to clients across the Yate area are:
- Tax Allowances
- Pension Advice
- Cash Flow Modelling
- Future Income Options/Investments
- Estate Planning
No matter what your retirement plan needs might be, we will work closely with you to develop a personal plan that suits both your lifestyle and finances. For more information on our Yate retirement planning service or should you wish to arrange an appointment with us, please don’t hesitate to get in touch. One of our team is always on hand to answer questions and deal with enquiries relating to retirement planning.
Bespoke Retirement Planning Advice
When it comes to retirement planning in Yate, we will tailor a solution to suit your needs. Whether it’s ensuring you have a nest egg for when you retire or an ongoing income throughout your retirement we have you covered. We offer honest and effective advice that is designed to maximise your retirement plans. From start to finish, you will work closely with one of our team and we’ll ensure any advice we give is understandable and clear from the offset. For more information, be sure to get in touch with us today.
Professional Yate Retirement Planners
As professional retirement planners in Yate, we have the skills and knowledge needed to provide you with professional advice and services from the offset. We have worked with all types of clients over the years and will ensure your retirement is effectively planned for. Having carried out retirement planning for many individuals across Yate over the years, we have developed a well-known reputation for the service we deliver to our clients. Our main priority when it comes to retirement planning is to ensure you are well looked after.
Benefits of Retirement Plans
If you’re worried about retirement then don’t be, with retirement planning from The Lost Coin Financial Planning Ltd of Yate, we can help you effectively plan for your future. Retirement planning offers a number of great benefits, some of which are:
- Your can plans when you want to see returns on your investments
- Any unforeseen expenses can be planned for
- Finance forecasting will give you a realistic expectations of how much money you’ll have
- Retirement planning can help to safeguard any assets or properties
- Your can plan whenever you want and adapt it to suit your circumstances
Why Choose Us For Retirement Planning in Yate?
Over the years we have carried out retirement planning for many individuals in and around the Yate area. We have a well-known reputation and pride ourselves on our honest service and friendly approach. Some of the reasons we believe you should choose us for retirement planning in Yate are:
- Local Yate retirement planning company
- Team of retirement planners
- Honest and effective retirement plan services
- Dedicated support from start to finish
- We cover all types of retirement planning
Searching For Retirement Planning in Yate Contact The Lost Coin Financial Planning Ltd
If you’re in need of retirement planning in Yate or any of the surrounding areas, then be sure to get in touch with The Lost Coin Financial Planning Ltd today. We have years of experience offering retirement planning services and advice to clients across the local area. You are never too young to start retirement planning and the earlier you do so, the more you can capitalise on investments. For more information on our retirement planning service in Yate or to book an appointment with us, please don’t hesitate to get in touch. One of our team is always on hand to assist. We offer retirement planning services across Bristol, Chippenham, Chipping Sodbury, Clevedon, Filton, Frampton Cotterell, Patchway, Portishead, Winterbourne and Yate.
Offering Modern Retirement Planning Across Yate
Retirement Planning Yate – Frequently Asked Questions
What is a retirement plan advisor?
A retirement plan advisor is someone who will work with you to plan your retirement, from what your income will be to any investments you might want to liquidate. At The Lost Coin Financial Planning Ltd, we have a team of retirement planners who will work closely with you to tailor a solution that fits your requirements.
How do you plan for retirement?
Everyone is different when it comes to their retirement and we will work with you to ensure yours is effectively planned for. From the savings you have, to any pension contributions you make, we will gain an understanding of what your future retirement could look like.
What are the different retirement plans?
There are many different types of standard retirement plans and we use these as a basis to help tailor a plan to suit your specific situation. For more information on our different retirement options, be sure to get in touch with us.
Are retirement plans worth it?
Yes! Regardless of your age, retirement plans will help you to effectively plan for your future giving you additional security and peace of mind. Our retirement plans will help you understand what your monetary situation is, any assets you have and how your investments could look in the future.