What are You Really Considering in Your Retirement?



Posted on: 16th September 2022

In today’s highly volatile financial landscape, it is easy to understand why only 1 in 3 of us have any clear understanding of where our retirement landscape currently sits.

Confidence in being able to afford to retire is something affecting us all, as well as faith in our investments and what exactly we are going to able to leave behind for our children following our passing. It is something that independent financial advisers Cheshire see a lot more of as the year progresses, fuelled by the cost of living and state of the English economy at this point.

There is nothing to start a panic more than uncertainty and sensationalism in the media when all you need is sound advice to be able to plan more effectively.

The Time to Retire

No doubt you have decided in your mind what age you want to retire, but the understanding of how much capital you will require to accumulate to support that retirement plan may be all over the place.

Financial advisors help in gaining an individual insight into achieving the ideal retirement goal not just in the figures, but also in the planning stages. The cost of living crisis causes tidal waves of concern and fret for those over 50, with over 50% of people fearing their income will not be enough to survive on when they retire.

Being able to estimate how much would be spent in retirement, a financial adviser brings with them more clarity and confidence toward identifying when you can afford to stop working, helping you to think about the things that matter to you and the lifestyle you want to wind down into. Thinking about your future with a more structured and knowledgeable approach is reassuring to not only you but also your family.

Pension Access

As we have seen since the beginning of the pandemic, many people chose to access their pensions early to cope with the panic and financial difficulties that arose. Most of this was done without the insight and advice of independent financial advisers Manchester to outline the pros and cons of making such a move.

Feeling they only had one option led to rash thinking which has undoubtedly set people back financially way before the cost-of-living crisis took effect. Whilst certain situations cannot be predicted, they can be prepared for by discussing solutions and alternatives with an adviser.

The Best Help

Retirement is a significant step in your later life and involves a lot of important decisions that you simply require guidance to stay on track with. Decisions that you make with your finances are crucial to impact how and when you can retire – and many things can jump into the road and require a swerve around.

Contact the team at Haven IFA today for retirement planning Manchester and pension advice Manchester, facing uncertainty with a plan toward your ultimate goal.