Are you confident you will you have sufficient income to enjoy a long retirement at a standard of living that you are accustomed to?
Or will you have to continue working long after you hoped to retire, postponing the time when you and your family can pull back and enjoy the fruits of all your hard work?
Making provision for a long and comfortable retirement in today’s financial climate requires careful planning. Some of the factors you will need to consider are:
Flexible options – It is important to maintain flexible options with regard to such things as pensions, savings, investments, and insurance – and in each of these areas to achieve an appropriate balance between high and low-risk exposures.
Exit strategy – You need to consider well in advance when you will retire and how you will leave your business. Whether you plan to sell up or pass it on to others in the family, advanced planning is essential, especially if you are to optimise the value of your business and mitigate your tax liabilities.
Quality of life – If you want to maintain a good quality of life throughout your retirement, you will also need to consider medical insurance and provision for long-term care.
Family matters – Few things are more satisfying in retirement than being able to gift money to children and grandchildren as they reach important landmarks such as education, graduation, marriage, first house or new family. We can help you make provision for these events.
You’ve probably already given some thought to these matters and put plans in place, but in our experience clients benefit from regular reviews to monitor and adjust their retirement plans.
As your accountants, we are uniquely placed to assess your financial position and to advise you on appropriate retirement strategies.
Contact us today and discuss how we might help you plan for a long and happy retirement.