Provision for Income in RetirementBack
"Don't talk to me about Pensions I hate them" That's a nice way to be greeted as we walked into a potential clients office. This Business Owner had been refrred to us by an existing client of ours. We immediately responded with "As a business owner you have many methods of more efficiently and effectively providing income in retirement - in fact in certain circumstances a Pension might be the last thing you would need"
He calmed down - a meaningful discussion began....
Client Concerns & Immediate Issues
- Client had lost faith with pensions as a means of providing income in retirement
- Lack of information & guidance from his existing advisers
- Was keen to make provision for his retirement but was unsure of alternatives available
- Would like to reduce his overall tax bill
- His financial affairs were somewhat disorganised
- Would like the option to retire at 55
Our Initial Recommendations and Action
- Educated the client on the options available in helping him create income in retirement
- Simplified & consolidated existing investments & pensions
- Developed a disciplined & structured investment programme to create income in retirement
- Established individual investment strategy matched to his appetitie for risk & reward
The Results so far
- Co-ordinated approach to retirement provision, no longer reliant simply on Pensions
- Reduction of Corporation Tax & personal Income Tax liability
- Creation of future Tax Free income streams
- His capital was now working for him & his family rather than locked in his Pension
- A knowledgeable client making sensible provision for his 'retirement'
Please Note: This document is provided as a working example and for information purposes only this should not be construed as financial or investment advice.