Retirement Planning

Effective retirement planning comes in two phases. The first is how you save for your retirement and the second is how you turn your retirement savings into an efficient income when you retire. They are both equally important steps which need careful analysis.

Saving for retirement

There is no simple answer to this and there certainly isn’t a “one size fits all”. You need to look at what you want when you retire and then review all your existing plans to see where you are. Pensions can be confusing and we can help you make sense of what you exactly have, where the money is invested, potential risks, and what you are paying in charges.

A well prepared pension plan which is regularly reviewed, invests in areas that you are comfortable with, and has an effective charging structure should go some way to providing you with a reasonable income in retirement.

But saving for retirement does not just mean a Pension Plan, depending on what you plan to do when you stop working other forms of investment may also be appropriate.

In Retirement

Turning your pension pot (and possibly other assets) into an income when you retire needs careful consideration. The changes announced in the March 2014 budget do indeed provide much more flexibility however they also bring increased risks. Your income needs, and tax situation need to be reviewed to structure your income in the most efficient way for the future. There are many different ways in which you can do this and making the right choice is vital to ensuring you make the most of your retirement savings.

Either saving for, or in retirement we will be able to help you maximise your planning for the future.

A PENSION IS A LONG TERM INVESTMENT; THE FUND VALUE MAY FLUCTUATE AND CAN GO DOWN. YOUR EVENTUAL INCOME MAY DEPEND UPON THE SIZE OF THE FUND AT RETIREMENT, FUTURE INTEREST RATES AND TAX LEGISLATION.

INFORMATION IS BASED ON OUR CURRENT UNDERSTANDING OF TAXATION LEGISLATION AND REGULATIONS. ANY LEVELS AND BASES OF, AND RELIEFS FROM TAXATION, ARE SUBJECT TO CHANGE.

If you would like to learn more about our services then please contact us.
Call us on 0131 524 8147 or Email: info@fergusonifa.com

Savings & Investments

Since there are so many different types of savings and investments, it is wise to seek expert advice which can be tailored to suit your own circumstances. Paying too much in tax or charges can seriously reduce your returns.

The value of investments and income from them can go down. You may not get back the original amount invested.

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Wealth Management

Once you have money it’s important that you protect it against the potential threats of taxation, inflation and investment risk. We can help you ensure that you are making the most of tax efficient solutions and have an investment structure which is efficient.

Tax treatment is based on individual circumstances and may be subject to change in the future. The Financial Conduct Authority does not regulate tax planning.

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Taxation

Understanding taxation means that you will be better prepared to ensure that your finances are arranged in a way that will save you money. If you take action and review your tax affairs you may be able to reduce the amount of tax you have to pay.

Tax treatment is based on individual circumstances and may be subject to change in the future. The Financial Conduct Authority does not regulate tax planning.

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Health Insurance

Health Insurance is probably one of the most important types of insurance you can arrange. Without it, an illness or accident can have serious long-term financial implications for you and your family.

Critical illness plans have no cash in value at any time and will cease at the end of the term. If you stop paying your premiums your cover may end.
Plans may not cover all the definitions of a critical illness. The definitions vary between product providers and will be described in the key features document if you go ahead with a plan.

Income protection plans that have no investment link have no cash in value at any time and will cease at the end of the term. If you stop paying your premiums your cover may end.

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Life Assurance

A Life Assurance policy pays out a sum of money when the person who is covered by the plan dies. The money is intended to pay off any outstanding debts and support your dependants financially by providing them with a further lump sum or a regular income if you die.

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