Recent research has shown that nearly two-thirds of UK adults don’t feel confident about their retirement. While many of those surveyed were unsure how much they would need to retire comfortably, more than half didn’t know the size of their pension pot right now.
It’s unsurprising, then, that retirement confidence is low.
But expert financial advice can help. At Jane Smith Financial Planning we help to put you in control of your financial future.
Keep reading to find out why your long-term retirement plans are safe in our hands.
Recent figures show a worrying lack of pension engagement
A recent survey of 2,000 British workers, published by MoneyAge, has indicated that 55% of UK working adults aren’t engaged with their pension planning.
While 51% of 25 to 34-year-olds don’t know how much their pension pot is worth, this figure jumps to 57% for those on the cusp of retirement (those aged 55 to 64).
As a result, nearly two-thirds (64%) of UK adults aren’t confident about their retirement, while 36% are specifically worried about retirement planning.
But providing reassurance and confidence in your long-term plans is exactly what professional financial advice is about.
Working with our team of experts at Jane Smith Financial Planning means that you can have confidence in your retirement plans, whatever they are.
You might want a slower pace of life, spending more time with your grandkids. Equally, you might plan to travel the world. Whatever your plans, and whether you intend to quit work in your 50s, 60s, or 70s, we’re here to help you live the retirement lifestyle you choose, and with confidence.
Retirement confidence comes from a solid plan, effectively communicated, and regularly reviewed
A recent FTAdviser report found that two-thirds of financial planners see providing reassurance as their main job.
At Jane Smith Financial Planning, we firmly believe that your financial wellbeing is fundamentally tied to your physical and emotional wellbeing.
We can help you to answer some of later life’s key questions:
- When do I want to retire and when can I afford to retire?
- How do I want to retire and how does this affect what I can afford?
- Can I live the lifestyle I want and still have money left to pass on?
The first step of our four-step planning process is getting to know you. This means understanding your lifestyle now, the lifestyle you hope to live in the future, and the hopes you have for your loved ones.
This is the basis for your Life Roadmap Report, your plan for the future and the reference point that we’ll refer back to over the next five, 10 or 15 years.
Once your plan is in place and the implementation process has begun, we don’t disappear. We’ll meet with you regularly to check in on your plan and to find out if there are any big changes on the horizon.
We understand that life milestones can change your priorities. It is unlikely, though, that your ultimate goal will change massively and a robust financial plan is also a flexible one.
Through regular reviews, we can confirm whether your plan is still on track and help you to make changes if any are needed.
Advice can give you peace of mind and see you better off in retirement
An International Longevity Centre (ILC) report, published by Unbiased, recently looked at the effects of taking financial advice over the 10 years from 2001 to 2006.
The report found that, on average, taking financial advice saw clients £47,706 better off after 10 years, with the bulk of this additional wealth held in clients’ pension pots.
And yet, financial wellbeing isn’t only about the money you hold.
There are emotional and physical wellbeing benefits to receiving expert financial advice too, from a greater sense of control to improved confidence and peace of mind.
These non-financial benefits can’t be overlooked or underestimated. This is especially true in the current climate, so if you find you need financial reassurance, speak to us now.
Get in touch
If you would like to discuss your retirement or any other aspect of your long-term financial plan, we’d be very happy to help. Please contact us at info@janesmithfinancial.com or call 01234 713131.
Please note
A pension is a long-term investment. The fund value may fluctuate and can go down, which would have an impact on the level of pension benefits available. Your pension income could also be affected by the interest rates at the time you take your benefits. The tax implications of pension withdrawals will be based on your individual circumstances, tax legislation and regulation, which are subject to change in the future.
This blog is for general information only and does not constitute advice. It should not be seen as a substitute for financial advice as everyone’s situation is different.
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