Retirement Planning In Wolverhampton
Our dedicated team of Chartered financial planners, based in Wolverhampton are here to help you with your retirement planning.
At Howard Wright we have helped many people in and around the Wolverhampton area plan for 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 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
Once we have established the above we then review 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 into 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 favor the 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’s 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 of 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 further, 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 then recommend and implement a number of products to target your objectives.
Our Chartered status is the gold standard of our industry and is an assurance we operate to the highest standards.
To start your retirement planning today and book your free initial consultation with one of our Wolverhampton based Chartered Financial Advisers, 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. We look forward to hearing from you.
Inheritence Tax Planning
Our inheritance Tax options report, provides an overview of you Inheritance Tax Liability today and future Inheritance Tax liability and how you can legally minimise it.
This will review the following areas.
- Inform you of the allowances and exemptions you have available.
- Considerations of redistributing assets
- Asses your ability to gift capital and how this would affect your retirement income, today and in the future
- Inform you of the available Trusts available for you to use
- Provide Life insurance quotations and inform you on how much this would cost to fund your inheritance tax liability when you pass away.
To start your Estate Planning today, with one of our Chartered Financial Planners based in Wolverhampton. You can call us on 0345 688 4939 or fill in our enquiry form below it only takes 20 seconds to complete.
Once you have done this one of our advisers will then contact you, as soon as possible to start our Estate Planning process. We look forward to hearing form you.
Free Initial Consultation
We will then contact you as soon as possible, to discuss our retirement planning process and how we can help you achieve your goals and objectives.
Our Chartered status, the gold standard of the industry, is an assurance that we operate to the highest standards within the industry.
“Following my recent annual meeting, I was very pleased to learn that my balanced portfolio has seen investment growth of 10.93% over the last year, even when taking my annual drawdown I was left with a healthy capital growth on top.
I feel that Howard Wright have managed my portfolio extremely well over recent years and i would certainly recommend them”
“Eleven years ago I retired and not being financially educated I was faced with what was the legal and financial implications in accessing my retirement fund. Initially it was panic stations with the plethora of options and pitfalls to overcome.
At this point I was introduced to the Howard Wright Organisation that was very local. My first meeting quickly unravelled the options available, and without any external pressure I was able to make my decision concerning a Draw Down Option.
Considering the volatile market and financial nightmares over these past 11 years my decision has been proved correct. They have protected my fund and allowed me to sleep at night by operating a brilliant flexible system that continually updates me, plus a brilliant start of year meeting so I can assess the way forward for any upcoming period.
We are so pleased with the outcome that when my wife retired she went along the same route”