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How to plan for retirement​

Planning for retirement is easier and more secure with expert guidance. We help you assess your financial needs, set clear goals, and create a customised savings strategy to ensure your future is comfortable and stress-free. Let us see how to plan for retirement:

Assess your needs

Calculate income sources

Explore options

Plan strategically

Bookkeeping Services in  UK

Our main objective

We create customised retirement planning services for you. Our expert team helps you define your retirement goals, whether it's traveling, enjoying hobbies, or relaxing at home. We manage your finances and design a complete strategy that covers savings, investments, and pensions. Start planning today for a secure and fulfilling retirement.

We offer continuous assistance and regular evaluations to modify your plan as your requirements and situation change. Plan now for a safe and contented retirement that lets you live life as you see fit, enjoying each day with assurance.

Understanding retirement plans simply

Provide basic details about yourself

To help you plan your retirement, we need some basic details, Your Age and Retirement Goals.

Add your pension info

We'll estimate the future value of your pension pot, helping you see how close you are to your retirement goals.

Explore your income options

Check your estimated pension value and discover how to manage your retirement income effectively. Start planning for a brighter financial future today.

Why choose our retirement planning service?

Reach your goals

A Strong plan shows you how much money you need and the steps to get there.

Security

A Strong retirement plan lets you relax and enjoy life today, knowing your future is secure.

Improve your savings

Use smart strategies to take advantage of tax benefits and government programs, making your money work harder for you.

Retirement planning strategies services

Pension planning

Our pension planning service is designed to help you secure a comfortable retirement by guiding you through your pension options. We smooth the process of selecting between various pension plans, including personal and workplace, so you can quickly understand their features and advantages. Our team will access your present pension contributions and make recommendations for how to increase them so that you can have a strong financial future. We provide regular reviews of your pension strategy to adapt to any changes in your conditions.

Investment advice

Our investment advice service helps you find the right investment opportunities that match your patience and retirement goals. We analyse your financial situation to create a balanced portfolio designed to grow your savings while managing risks. We provide a variety of investing options, including mutual funds, equities, and bonds, to generate possible returns over time. We’re dedicated to ensuring your investments work effectively for you as you approach retirement.

Budgeting for retirement made easy

Making a retirement budget is important to ensuring your financial stability. Our team is available to guide you in estimating your expected income and expenses so that you can make plans for a pleasant retirement. We consider every aspect of your financial situation, including savings, pensions, and other sources of income. By helping you establish a realistic budget, we ensure you’re prepared for everyday living costs while still having room for leisure activities and unexpected expenses.

Estate planning

Our estate planning service helps you manage and pass on your wealth effectively while minimising tax costs. We collaborate with you to develop a strategy that ensures your assets are allocated according to your final desires. This includes discussing wills, trusts, and other legal tools to protect your wealth for future generations. Our goal is to help you leave a meaningful legacy while reducing the financial burden on your loved ones.

With our retirement strategies, you can prepare confidently for a fulfilling and secure retirement. Let us guide you in making smart choices today for a better tomorrow.

How to financially plan for retirement​

Plan for a secure retirement with our expert retirement planning strategies. We help you assess your finances, set clear goals, and create a personalised savings plan. Maximise your contributions and explore smart investment options to grow your wealth. Here’s how we can assist you in preparing for your future:

  • Assess Your Finances
  • Set Clear Goals
  • Personalised Savings Plan
  • Maximise Contributions
  • Smart Investment Options
  • Monitor and Adjust Regularly

Retirement planning tools​

Plan your retirement effortlessly with our Retirement Planning Calculator. Review Assets, Assess your savings, investments, and property. Achieve Goals, Get insights to ensure you’re on track for the retirement lifestyle you desire.

Retirement budget calculator

Plan your dream retirement with our easy-to-use Retirement Budget Calculator. This handy tool helps you estimate your yearly expenses so you can enjoy the retirement you've always visualised.

Pension tax calculator

Accessing your pension savings can have tax implications, especially if you opt for a cash lump sum. This tool helps you understand your potential tax liabilities and plan your retirement finances effectively.

Sources of retirement income

When planning for retirement, consider these key income sources:

Pension Pot

Your savings with the pPeople’s Pension.

State Pension

Eligible upon reaching State Pension age.

Other Pensions

Include any from previous employers or self-employment.

State Benefits

Access benefits like winter fuel payments and free prescriptions.

Savings and Investments

Use savings, ISAs, or inherited funds to improve income.

Additional Income

Consider earnings from rental properties or part-time work.

Improve Your Retirement Income

If you’re worried your retirement income might not cover your expenses, here are some effective ways to increase it:

Increase Contributions

Even small increases in your regular pension savings can lead to important growth over time, plus you may receive more tax relief.

Add Lump Sums

Consider investing bonuses or inheritances into your pension pot. The more you contribute, the more tax relief you can get.

Combine Pensions

If you have multiple pensions, combining them into one can simplify management and potentially reduce fees.

Retirement help and guidance

Get insights into how to maximise your retirement savings and understand the tax implications. Start planning today for a secure future.

Retirement guidance

Get expert retirement guidance to secure your future. Our customised plans help you maximise savings and achieve your retirement dreams.

Retirement advice

Get expert retirement advice customised to your needs. Secure your financial future with personalised strategies and insights.

Speak with Us

Get personalised retirement advice from our experts. We're here to help you secure your financial future.

Reach us today.

If you want to take your accounting work to the next level, then reach us today without wasting time.

Gives us a Call

0208 8611685

Send me Mail

info@phs-uk.co.uk

Frequently asked questions

A retirement strategy is a plan that helps you prepare for life after you stop working. It involves setting clear goals for how you want to live during retirement and figuring out how to achieve those goals financially. This includes deciding how much money you need to save, where your income will come from, and how to manage your investments.

The best retirement strategy includes saving consistently, investing wisely, reducing debt, planning for healthcare, and creating a diversified income stream to ensure financial security.

The 4% rule is a guideline that suggests you can withdraw 4% of your retirement savings each year without running out of money. To use this rule effectively, you should aim to save about 25 times your annual expenses before retiring. This approach helps ensure that your savings last throughout your retirement while providing a steady income.

The golden rule of retirement planning is to start saving early, invest consistently, and ensure your retirement income will cover at least 70-80% of your pre-retirement income.

Before retiring, it's important to assess your financial situation thoroughly. Calculate how much money you'll need for living expenses, healthcare, and any other goals you have in mind. Review all your pension plans and savings accounts to understand what income you'll have available. Create a budget for your retirement lifestyle and consider consulting a financial advisor to ensure you're well-prepared.

The three biggest mistakes in retirement planning are: Many people underestimate how much they need to save for retirement, leading to insufficient funds later. Healthcare expenses can rise significantly in retirement; failing to plan for these costs can strain your finances. While it's important to manage risk, being overly cautious with investments can limit growth potential, making it harder to achieve financial goals in retirement. By being aware of these mistakes and planning accordingly, you can work towards a more secure and enjoyable retirement.

The Labour Party may review pension tax relief and the 25% tax-free cash option to improve pension outcomes and increase investment.

Retirement plans provide financial security, tax benefits, and peace of mind, ensuring you can enjoy your golden years without worry.

Plan for at least 20-30 years in retirement to maintain your lifestyle and cover potential healthcare costs as you age.

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