Many people believe that retirement planning involves simply preparing for the day they are no longer employed. From saving money and paying into pensions to making shrewd investments, a lot of retirement plans do require actions prior to retirement; however, to remain effective, planning must continue into retirement itself. In this article, we’ll look at post-retirement planning and why it must be an ongoing process.
Keeping comfortable
Post-retirement planning involves working out the most suitable options when arranging assets to ensure retirees have income security and sufficient capital during retirement. It also accounts for changing needs. It is understood that, as we age, we may need additional healthcare plans or assisted living solutions and other requirement. Continuous planning ensures that provisions are adapted as necessary to match these needs.
Tax strategies
Expert retirement financial advisors can help retirees to pass more of their wealth to their loved ones. Mandatory Inheritance Tax (IHT) can deplete how much can be left, but specialist advice can limit how much must be paid to Her Majesty’s Revenue and Customs (HMRC). Tax-efficient strategies can also help build up assets required for a comfortable retirement.
Retirement planning in Chester
If you are looking for experienced advisors who can help you with both your pre-retirement planning and ongoing measures, you can depend on our dedicated team at Hartey Wealth Management. To ensure your plans remain on track, even after you reach retirement, get in touch with us today to discuss your needs.
