enjoy retirement

For most people, one of the main aims of generating and managing wealth is to protect their financial security in retirement.

Saving for retirement is a long term process and you’re never too young to start. You need to balance future needs and current financial commitments, and continually review your plans to make sure your aspirations in retirement are achievable. Or in other words, to make sure you have enough money to enjoy retirement.

There are three main phases in retirement planning:

1. pre-retirement planning requires you to steadily and tax efficiently build assets over your working life so you are not leaving it to the last few years. This involves managing your investments and reviewing the performance.
2. at-retirement planning involves reviewing the options available to you when you retire and making the most of the tax effective solutions. Decisions made then will be critical to your retirement living. When to take your pension, in what form, what guarantees you would like etc.
3. post-retirement planning requires you to review what you have, what to spend and to balance the books. You aren't likely to receive a lot more cash so you have to make sure you use what you have wisely. 

The decisions you make at retirement can be life changing.

You will have to think about how your pension is structured and consider the fcators which will dictate the amount of income you receive for the rest of your life.

Unfortunately, once you have bought an inappropriate pension annuity from an uncompetitive provider you can't change it.

The RSM Tenon Annuity Desk can help. Our consultants will help you select the right annuity strcuture for your circumstances and secure some of the best rates in the market at the time of quoting.

You’ll find more information on annuities here. To contact the RSM Tenon Annuity Desk call 01257 518 258 or email annuities@rsmtenon.com