CS Retirements Retirement Planning Advice

Retirement planning advice helps you to make the right decisions with your pensions, savings and investments to make sure you can maintain the lifestyle you want to once your regular working income has stopped or reduced.

Fortunately, there is plenty of help to be found, and as long as you know where to look, you can be sure that you are going to be able to get the advice you need. But why should you get that advice – and how should you go about finding it once you know that you might need it?

Why Do You Need Advice?

Some people reach retirement without having properly planned for it, and that means that they are likely to benefit greatly from receiving some kind of assistance with regard to what they should be doing with their money.

Finances are important to deal with at any stage of life, but perhaps no more so than when approaching retirement. Having some good quality and professional advice is likely to be very useful to know what you can do with your money and help you plan for the future.

Specifically, you might find that you could do with a little help regarding how to manage your pension pot. It might be that you have a pension scheme which pays out regularly, in the form of a salary, once you have retired.

Alternatively, it could be the case that you are merely given a lump sum upon retirement, which you then need to know what to do with. There are many considerations within that situation, and it’s common for people to seek help working out what is best to do with it.

Changes With Pensions

A big part of all this is ensuring that you are well informed on the current rules around pensions. They change all the time, of course, but any big changes are going to be something that you want to pay close attention to, as it is going to mean that you might have to alter how you are approaching your own pension and finances.

It used to be that once you had taken your tax-free cash from your pension, you then were obligated to use the remainder to buy you an annuity to see you over for the rest of your life. But as of April 2015, you can now use your pension pot however you like. While that gives you a certain freedom, with that freedom comes a lot of responsibility and – for many people – some deal of confusion. This is a good time to start seeking out some financial planning advice.

Where To Go For Advice

If you would like to know more about what options are available to you when it comes to planning for your retirement, there are plenty of free online resources, including sites like Citizens Advice or MoneyHelper. After reading the information, it is highly recommended to take financial advice from a professional.

Financial Advisers will be able to assess your situation to work out the most appropriate option for you and which products would help you achieve your goals. This is where CS Retirement Solutions can really help you, so if you would like to know how we can support your retirement planning, please get in touch. 

The value of investments and any income from them can fall as well as rise and you may not get back the original amount invested.