Retirement and Pensions

Plan for a Comfortable Retirement

Planning for retirement is a crucial aspect of your financial journey. At 1st Financial Foundations, we offer expert advice to help you build a robust retirement plan that ensures financial stability in your later years.

Our retirement and pensions services include personalised advice on pension schemes, investment options, and retirement income strategies. We work with you to develop a plan that provides peace of mind and a comfortable retirement lifestyle. We can give you a definitive cashflow plan to forecast your future cash situation.

Understanding Your Retirement Needs

Our first step is to understand your retirement goals and needs. We take the time to discuss your desired retirement lifestyle, anticipated expenses, and any specific financial objectives you may have. This helps us create a personalised retirement plan that aligns with your vision for the future.

Retirement Income Strategies

Generating a reliable income in retirement is essential for maintaining your lifestyle. We help you develop strategies to draw income from your pension and other investments efficiently. This includes advice on annuities, drawdown options, and other income-generating products. Our aim is to provide you with a steady income stream that meets your needs and preserves your capital.

Pension Schemes

We provide guidance on a variety of pension schemes, including personal pensions, workplace pensions, self-invested personal pensions (SIPPs) and Small Self-Administered Scheme’s (SSASs). Our advisers help you understand the benefits and limitations of each option and recommend the best scheme for your needs. We also assist with pension transfers and consolidations to ensure your retirement savings are optimally managed.

Investment Options

Building a robust retirement plan requires a well-diversified investment strategy. Our advisers work with you to develop an investment portfolio that balances growth and security. We consider your risk tolerance, time horizon, and retirement goals to recommend suitable investment options. Our goal is to maximise your returns while managing risk, ensuring you have a secure income during retirement, together with being tax efficient.

Tax Planning for Retirement

Effective tax planning can significantly enhance your retirement savings. Our advisers help you understand the tax implications of your retirement income and develop strategies to minimise your tax liability. This includes advice on tax-efficient withdrawal strategies, utilisation of tax allowances, and planning for future tax changes.

Long Term Care Planning

Long-term care planning is about preparing for the support and services you may need later in life, ensuring your financial security while protecting any compensation awards or means-tested benefits. Care options range from maintaining independence with sheltered accommodation or domiciliary care to more intensive options like live-in carers, care homes, or end-of-life care. Funding for care can come from the NHS, local authorities, benefits, or self-funding through savings, investments, or property-based solutions like equity release. Professional advice is essential to navigate these options and make informed decisions that suit your personal and financial circumstances.

Ongoing Support and Review

Retirement planning is an ongoing process. Our advisers provide continuous support to ensure your retirement plan remains on track. We regularly review your plan and make adjustments as needed to accommodate changes in your circumstances or goals. Our commitment is to help you achieve a secure and comfortable retirement.