Retirement Strategies

When considering retirement one of the questions at the top of your list is likely to be whether you can maintain the same standard of living in retirement as you presently enjoy whilst working. In order to answer yes to this question you will need to undertake considerable forward planning.

If you own your own business

· Do you have an exit strategy?
· How will you withdraw from the business?
· Do you plan on passing the business to the next generation and have a workable succession plan?
· Do you hope to sell the business in which case how will you value it, find a suitable buyer, etc.?
· Are you aware of all the tax implications of all of the above and how it can be impacted by the timing of each event?

Pension provision

· Have you made adequate pension provision?
· Do you have the right type of pension?
· Are you aware of all the pension possibilities open to business owners and directors?
· Are you making full use of all your allowances?

Savings and investments

· What savings and investments do you currently have?
· Do you have the right balance between savings and investments, and between high and low risk exposures?

Other issues

· What life assurance cover do you have?
· Have you made provision for long-term care and medical insurance for you and your spouse in your later years?

We can help you answer all these questions and formulate solutions tailored to your particular needs.

Contact us today to discuss a suitable retirement strategy for your personal situation.

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