Is an Annuity a valid retirement option in 2020?

If you’re due to retire this year, you’ve no doubt been preparing for your life milestone for some time. This preparation might have included a look at the flexible retirement options introduced in 2015 and known collectively as Pension Freedoms. Pension Freedoms have been incredibly popular since their arrival, but what of the traditional option, drawing a regular pension? Annuity rates have fallen over the last few years, a reaction to increased life expectancy and low interest rates. The Guardian recently reported that a 65-year-old man buying a ...

Generation X: Can you afford to retire?

If you’re aged 39 to 54 you’re unlikely to have seen your Financial Adviser last year – only 8% of people in this age bracket did according to a recent Money Marketing report. Nestled between the ‘never had it so good’ Baby Boomers and the social media-savvy Millennials, if you’re a member of Generation X – born between 1965 and 1979 – you’ll be giving increasing amounts of thought to your retirement. This is a life milestone and an important time to seek advice. The same ...

Your guide to factoring the cost of care into your retirement planning

You’ve been planning your retirement for years. World travel, new hobbies, passing your wealth onto the next generation – you’ll no doubt have your priorities worked out, but have you factored in the cost of later life care? It’s a subject we’re likely not keen to dwell on but the increasing cost of social care means that finding space in our retirement planning for later life is essential. Here’s our guide to factoring the cost of later life care into your retirement planning. The rising cost of social care We’re living longer. ...

Can you afford to take a lump sum out of your pension?

Are you thinking about withdrawing a lump sum from your pension? Whilst it can be an attractive option, it’s important to remember that a pension is designed to provide you with an income throughout retirement. Before making a withdrawal, you should ask yourself: Would taking a lump sum now affect the lifestyle you can comfortably afford? Could it mean you run out of money during retirement? Taking a lump sum from your pension Once you reach the age of 55, your pensions will be accessible. You're free to choose how ...