BEACON WEALTH MANAGEMENT LTD
- Life In Retirement
February - March 2019
Every month I am meeting with people who are considering retirement, which is one of the reasons why after 27 years as an adviser most of my clients are now retired.
When you are young you see retirement as being such a long way off and not something you need to think about, but for those that have reached it they know, just like everything else this time goes so fast that if you blink you are retired before you know it.
Last Few Years Before Retirement
The last few years before retirement for some can seem long, or drag as they bide their time until they reach their desired age to stop work.
For some of course, age is just a number, and I have quite a few clients that are working beyond state retirement age.
Many of these are business owners who either like what they do, or have no-one to succeed them. Others just enjoy working and if they are skilled their employers certainly don’t want them to leave with all their knowledge and experience especially as the replacement, while usually bright, has none of these.
The scary thing is that often individuals are financially able to retire sooner than they think and also to go part time as they slow, and just don’t know it.
Whatever your age, unless particularly ill at the moment, you are probably at the fittest you will ever be, and thus more able to enjoy life than you will do in say 10 or 15 years’ time.
Why is Retirement at 65?
The idea of retiring at 65 was because the state pension for most was their only form of income to see them through the rest of their life. If you have a pension fund and/or investments, there is a good chance you could retire early and enjoy a couple of extra summers at home.
Early planning is important if you want to retire early, and fund choice as well as contribution level is key to the size of the fund which will determine just how early you want to go. For some, a slow down to perhaps a 3-day week supplemented by the fund is equally important.
Our in-house investment team has enjoyed superb results and we have every one of the 58 so called “dog funds” from the likes of Jupiter, HSBC, St James Place, Fidelity Aberdeen and Invesco Perpetual that have just been announced.
It should be remembered however, that past performance is no guarantee of future performance and just because our average risk portfolio beat all registered funds of the same level of risk last year, and have outperformed over every cumulative year of the last 9 years, things can change.
Funds go down as well as up.
If you fancy the idea of retiring early or slowing down talk to your adviser… or us.
Your adviser should preferably be qualified above the minimum so for pension advice ask if they have G60 or AF7 and for investment advice. IMC, or better still be a Chartered Wealth Manager.
Any adviser serious about their profession will have studied appropriately, and somewhat beyond the minimum.
Contact us today for an initial complimentary meeting and financial review. Phone; 01480 869466.
Should you require financial assistance for pensions, savings, investments, mortgages, protection, long term care, employee benefits... contact the team at Beacon Wealth Management Ltd.
Tel: 01480 869466
The Old Chapel, Thrapston Road,
Kimbolton, Cambridgeshire, PE28 0HW