June 16th, 2015•Comments Off on Will you outlive your pension?•Posted By Greenwood
An adviser often has to ask you personal questions to get a full picture to help you arrange your finances to your best advantage.
It’s no different when it comes to planning for your retirement. However, when we’re talking about your retirement options, there is one very difficult question we have to ask you: “How long do you expect to live?”
On occasion, that can be a sensitive subject. Who amongst us likes to think about when we might die? And, often, it’s a question our clients feel is impossible to answer. But your life expectancy plays a big part in retirement planning.
To help you plan effectively, we need to have a realistic idea of how many years your pension pot may have to cover. This video helps to explain the importance of life expectancy in retirement planning in a refreshingly simple, jargon free way. You might find it useful to spend a minute watching it. Why is your life expectancy important? Quite simply, your life expectancy is important to your retirement planning because underestimating it could have a major impact on your quality of life as you get older. There’s a possibility you may outlive your pension pot and that could leave you facing significant financial hardship in your later years.
The value of your investment can go down as well as up and you may not get back the full amount you invested. The value of tax reliefs depends on your individual circumstances. Tax laws can change.
Will you outlive your pension?
Will you outlive your pension?
June 16th, 2015• Comments Off on Will you outlive your pension?• Posted By Greenwood
An adviser often has to ask you personal questions to get a full picture to help you arrange your finances to your best advantage.
It’s no different when it comes to planning for your retirement. However, when we’re talking about your retirement options, there is one very difficult question we have to ask you: “How long do you expect to live?”
On occasion, that can be a sensitive subject. Who amongst us likes to think about when we might die? And, often, it’s a question our clients feel is impossible to answer. But your life expectancy plays a big part in retirement planning.
To help you plan effectively, we need to have a realistic idea of how many years your pension pot may have to cover. This video helps to explain the importance of life expectancy in retirement planning in a refreshingly simple, jargon free way. You might find it useful to spend a minute watching it. Why is your life expectancy important? Quite simply, your life expectancy is important to your retirement planning because underestimating it could have a major impact on your quality of life as you get older. There’s a possibility you may outlive your pension pot and that could leave you facing significant financial hardship in your later years.
The value of your investment can go down as well as up and you may not get back the full amount you invested. The value of tax reliefs depends on your individual circumstances. Tax laws can change.