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Retirement planning
Planning for the rest of your life
Retirement planning it not only important when you
are nearing retirement age. The earlier the planning starts the
more likely you are to achieve the financial security you will want
to take that long earned rest. Recent legislation has encouraged
retirement planning to commence from childhood with the stakeholder
legislation which is now applicable for everyone from birth through
to age 75.
Should you wish to provide a child with a secure pension
in their later life, you can invest £3,600 per annum into
a stakeholder pension from birth. Stakeholder pensions have lower
costs deducted and the amount you pay to achieve the above is £2808,
after deducting the basic rate tax. This is under the annual IHT
gift exemption. Even for older people the basic rate tax uplift
on the investment is equivalent to 22% and represents a useful return
for short term savings in these times of low interest rates. Investment
can be made up to age 75.
For those nearing retirement age it is important to
review your investment and pension strategy and to focus on estate
protection. We can help by reviewing the potential Inheritance Tax
position and help you to ensure the succession of a family business.
During your retirement, it is important to keep a
keen watch on your financial plan, making adjustments when necessary,
to ensure that you enjoy a long and comfortable retirement. We can
discuss your aspirations and resources and introduce you to an appropriate,
authorised advisor. Financial Services
Please do not forget that inheritance tax law changes
as do families and financial requirements. Your Will needs to be
kept under review with the help of your solicitor.
Gibbons Mannington can advise you if you think it
is time to begin putting some money aside for children and grandchildren.
You deserve a well-earned rest, so let us help with
the strategy to make sure you get it.
Contact us
for further advise
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