Your Choices At Retirement

It is never too early to start thinking about how you will fund your retirement.
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Your Choices At Retirement

These are some of the questions that people approaching – or considering – retirement regularly ask themselves:

Can I afford to retire?
How much will my State Pension provide me with?
How much will I earn in retirement taking into account private pensions too?
What is the best way to secure an income for the rest of my life in retirement?
Can I have a flexible income?
Should I buy an annuity to guarantee me an income, or buy a drawdown product?
What happens to my pension pot when I die after retirement?
How do I best ensure that my spouse has enough income if I pre-decease him/her?
What if I need to take capital payments after I retire?
Can I take my pension early?
How much cash can I take from my pension tax free?
Should I take it?
What should I do with it after I have taken it?
Do I have enough in my pension to retire comfortably?
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According to the Office for National Statistics: 

  • a male aged 65 is likely to live for 18.6 years on average, taking him to 83
  • a female aged 65 is likely to live for 21 years on average, taking her to 86
  • 1 in 3 women are likely to celebrate their 90th birthday
  • 1 in 5 men are likely to celebrate their 90th birthday 

This means that when you retire, you are likely to need to provide yourself – and possibly your spouse too – with a sufficient level of income for the next 20 years and very possibly beyond. Retirement is a minefield, and how you approach retirement financially is one of the biggest decisions you will take in your lifetime, with the risk of making decisions early-on that cannot be changed afterwards.

It is therefore critically important that you take professional financial advice to ensure that the decisions you make about how and when you wish to retire are based upon a full knowledge of your options, and consider all possible variables and factors.

At Peter Stewart Associates we are highly qualified and experienced to assist you in making the right decisions to be able to approach retirement with confidence and peace of mind.