If you are approaching Retirement then your perspectives and needs are most likely to be quite different to when you were 10 or 20 years younger. At Scottish Pensions our panel of Independent Financial Advisers have a wealth of experience in advising and guiding clients into making the right financial decisions for the retirement.
Our advisers approach:
If you are considering retirement or even partial retirement you need to carefully consider these questions:
1. When would you like to retire?
2. How much monthly income do I need to retire?
3. How are your Investments and Pensions performing right now?
Most people may need some assistance to answer some of these questions. The first question is key – as questions 2 and 3 are intrinsically linked because the later you put off retirement the more your fund can grow and the less time you spend in your retirement.
Create a retirement cash flow plan
Usually the first place we start is to create a simple cash flow plan with you. This plan will help you plot out what your income is and what your expenditure over your lifetime is likely to be, this way we can ascertain if your projected income is likely to last as long as you.
Obviously changes can be made along the way to account for changes in circumstances but at least you have a roadmap for your retirement.
What happens if my retirement plans are not on track?
If after an Independent Financial Adviser has carried out an income and expenditure cash flow and discovered your income is insufficient to meet your retirement goals then perhaps you may need to consider either working longer to allow your pension to grow, look at additional investment options or reduce your expenditure in retirement.
What to do next?
If your are considering your retirement options and in need of reliable Independent financial advice then take advantage of our Free Consultation service.
You can either complete our Enquiry Form and a member of our team can call you back alternatively you can telephone 0141 465 1909 to speak directly with a member of our team.
Lines are open – Monday to Friday: 8.30am – 7pm.
Branches in Glasgow, Edinburgh, Dundee, Aberdeen, Inverness, Perth, Oban and Stirling.