How Much Do You Need?
You may have seen articles or calculators indicating ways to gauge how much you need to save before you can retire, and a 5% withdrawal rule is commonly referenced in retirement models. However, if you dream of retiring early or at least being able to work through choice rather than necessity, you will need to take into account how much bigger your savings pot needs to be to facilitate this.
Your Adviser will help you to work out which is the best solution for you depending on your needs and objectives. As pension legislation changes, so too do your options so it’s important to keep up to date. Careful pension planning is essential to any financial plan and getting it right is paramount. Skybound are supported by a specialist pensions team, and whether you choose to take a regular income, drawdown a lump sum; or both, our Advisers are on hand to help guide you through to retirement and beyond.
A Bespoke Plan
For many people, a pension usually represents a large percentage of their retirement plan, followed by property and general savings accounts. However, in recent years government incentives have made ISAs a key consideration. Skybound’s team of experienced Advisers will help you formulate a bespoke plan in line with your attitude to risk that will allow you to realise with your retirement dreams.
Making Your Money Work For You
Creating a retirement plan is just the beginning. It’s important to ensure you make your money work for you because if it doesn’t, you will have to work longer. Regular reviews will make navigating the many complex tax breaks, benefits and allowances easier, and will ensure you don’t fall foul of any avoidable penalty charges.