Retirement In Wolverhampton
Our dedicated team of Chartered financial planners, based in Wolverhampton are here to help you.
We have helped many people in and around the Wolverhampton area plan and achieve a successful retirement, we believe that serious consideration and financial planning must be taken when looking to retire.
The sooner you start to plan for your retirement the more successful your retirement plan will be.
Our initial process of helping you plan for your retirement, is to consider the following areas.
- The level of income you require to maintain your lifestyle in retirement
- The amount of guaranteed income you will require in retirement
- Your spouse’s individual income should you predecease them
- The effect of inflation on your retirement plan
- Your state of health today and how this will affect your retirement plan
We then review you’re your investment portfolio and consider how you wish to draw your retirement income.
There are two main ways in which most of our clients draw their retirement income.
Option 1 – Purchase an Annuity
A Pension Annuity will provide you with a guaranteed income for the rest of your life.
You need to consider if you would like your income to increase each year and also if you would like it to be payable to a dependant should you pass away before them. These choices will all have an impact on the amount of income you will receive from your Annuity in retirement.
As part of our retirement planning process, we compare your Pension Annuity to the open market annuity rates. This is to ensure you get “the best deal” the highest amount of retirement income possible from your annuity as other providers will often provide a better rate, than your current pension provider today.
This is why we have invested heavily in our annuity sourcing software to find the best rates possible for our clients when looking to purchase an Annuity.
Option 2 – Drawdown
For those clients of ours who don’t wish to purchase an Annuity, many favour the following option of an investment drawdown. This involves keeping your Pension invested and drawing a regular income from it. This gives you greater flexibility and control over your retirement plan, rather than a fixed income for the rest of your life.
It is important to bear in mind that a drawdown approach doesn’t have the guaranteed element of an Annuity, investment markets fluctuate all the time and this will have positive and negative effects on your Pension.
As part of our retirement planning service we will inform you with the most tax efficient way of taking your investment drawdown, and what level of investment risk you require, to achieve your objectives in retirement.
Howard Wright Retirement Options Report
To simplify your retirement planning, we have created our very own retirement options report explaining all the benefits and considerations you will need to make to achieve your retirement objectives.
This report has bespoke illustrations to your circumstances and is tailormade to your requirements. One of our Chartered Retirement planners will recommend and implement a number of products to target your retirement objectives.
Our chartered status the gold standard of our industry, is an assurance we operate to the highest standards.
To start your retirement planning today, with one our Wolverhampton based Charted financial planners, you can call us on 0345 688 4939 or email us at [email protected] we will be more than happy to help you in any way possible and look forward to hearing from you.