By James Kenward; Independent Financial Adviser
Retirement is an exciting milestone, offering the freedom to pursue hobbies, travel, and time with loved ones. However, managing your finances in this new phase is crucial to ensure lasting security and peace of mind.
Understand Your New Budget
Review your income and expenses to ensure your pensions, savings and investments cover your lifestyle. Adjust for inflation and unexpected costs to stay on track.
Review your Income Streams
Carefully manage your pensions and investments to make your money last. Delaying withdrawals or restructuring your portfolio can improve tax efficiency and support long-term financial health.
Plan for the Unexpected
Prepare for unexpected expenses or care needs by maintaining an emergency fund and exploring care funding options.
Stay on Top of Taxes
Understand hope your retirement income is taxed. Using strategies like tax-free lump sums or gifting assets ca make a significant difference.
Secure your legacy
Update your will, trusts, and power of attorney to reflect your wishes. Proactive inheritance planning, especially with changes to inheritance tax, ensures your loved ones benefit from your estate.
Enjoy Retirement
Set realistic spending limits that let you enjoy travel, hobbies and family time while protecting your long-term finances.
Personalised Advice for a Confident Retirement
Your first year of retirement is a time to adjust and plan for the future. At Harold Stephens, we specialise in helping new retirees navigate these challenges with confidence, Our bespoke, independent advice helps to align your finances with your goals, giving you peace of mind to enjoy this exciting new chapter. Contact Harold Stephens today to start planning your perfect retirement.
Tel: 0117 3636 212
Email: office@haroldstephens.co.uk
Address: 50 High Street, Westbury on Trym, Bristol BS9 3DZ
