Warrington Personal Financial Planning

Warrington Personal Financial Planning

Do you have a fully tailored financial plan in place that can show you the impact of every single penny you spend? For most of us, the answer is “no”. We cannot see how spending today will affect our retirement income. That is where a Warrington Financial Planning team can be of assistance to you.

People go through their whole life trying to achieve goals. Most want to be debt-free at a planned age, and then retire from work and spend their time doing exactly what they want to do. Life is for living, and we want to show you how you can plan for your retirement years today and still have a comfortable life today.

Warrington Financial Planning

Warrington Financial Planning

Our Warrington Financial Planning Advisers will produce a Warrington lifetime cash flow modelling report for you. You can see the immediate effects if you were to decide to retire a year early or if you choose to pay off your mortgage a few years later. A click or two and our software will give you all of the answers you need for any scenario, right before your eyes.

Once you are satisfied with the plan, our Warrington financial advisers produce a detailed report to show you how every penny of income and expenditure between now and the age of 100 affects you in the future. It will be the first time you have seen your full financial future mapped out.

Personal Financial Planning Warrington

Personal Financial Planning Warrington

It’s time to stop guessing about your future and begin to plan for your income and assets to help you to live the life you want in retirement. Starting off the journey to your new financial life is simple: just complete the form below, or call our Warrington financial planners today on 01925 396122. Your first hour long Warrington Financial Planning review session with a member of our Warrington IFA team is completely FREE and with no obligation.

Retirement saving for the self-employed

Written by Mark Jones on . Posted in Financial Planning

A study by the Institute for Fiscal Studies found that only 16% of the UK’s business owners, freelancers and sole traders have a pension.

Self employed retirement planning
This statistic means that there are more than 3.5 million self-employed workers that do not have any savings for later on in life.

While lots of people are opting to work for themselves, due to the many benefits it presents, being self-employed also has its downsides.  Those who are employed can boost their retirement savings through auto enrolment – a scheme which requires companies to enrol their staff into a workplace pension and contribute towards it.  For the self-employed, however, saving for retirement isn’t quite as easy with many people put off by excessive administration, variable incomes, too much jargon and the time and effort that needs to be invested.

The good news is there are options out there for business owners and the self-employed – and you can also get a 25% tax top up from the UK Government.

When choosing a pension plan it’s important to think about the following factors:

Charges: Make note of any charges on pension plans and these will reduce the amount that is in your savings pot

Flexibility: Month to month your income may vary so it could be a good idea to look at plans which offer flexibility when it comes to minimum payments

Choice: Some plans offer more choices than others when it comes to investments.  Look at the options available and consider how they will help you grow your pension savings

Convenience: Once you’ve set your pension up it’s important to keep track of how it’s performing.  Check whether providers give you access to monitor and manage it easily.

If you want to save time and take the stress out of setting up a pension plan, we are here to help.  One of our pension experts will work with you to discuss your options and help you choose the one that works best.  Arrange your free consultation to get started.

Call us for a FREE review today 01925 396122

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UK Government confirms the minimum private pension age to rise to 57 from age 55, in 2028

Written by Mark Jones on . Posted in Financial Planning

The UK Government has confirmed the minimum private pension age will increase from 55 to 57 in 2028.

It announced the increase back in 2014 but did not include provisions in legislation for it to be implemented.

MP Stephen Timms, who heads the work and pensions select committee, asked about the government’s plans regarding the increase in parliament. 

Responding to the questions, economic secretary to the Treasury John Glen said: “In 2014 the government announced it would increase the minimum pension age to 57 from 2028, reflecting trends in longevity and encouraging individuals to remain in work, while also helping to ensure pension savings provide for later life.”

Commenting on the news Aegon pensions director Steven Cameron says: “The government has confirmed it is to proceed with an increase in the age at which people can access their pension. Currently, under the hugely popular pension freedoms, individuals can access their pension from age 55. This is to increase to age 57 from 2028.

“The government did indicate back in 2014 its intention to do this, but didn’t include provisions in legislation, leading to uncertainty over whether the change was still planned. This latest announcement confirms the change will happen meaning those retiring in future will have to wait longer to access their pension. It will be particularly impactful on those who were due to reach their 55th birthday just after the cut off, sometime in 2028.

“It’s now imperative that both government and industry make sure this change is clear to all those saving in pensions. We can’t afford a repeat of the Government communication gaps which left many women to find out too late that their state pension age was increasing from 60 to 65.”

Book a FREE financial planning review today, call us: 01925 396122. Or contact us here.

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As a Business Owner you need to protect your business interests – How does a Lasting Power of Attorney do just that?

Written by Mark Jones on . Posted in Financial Planning

Most people understand the benefits of a Lasting Power of Attorney (LPA):

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