Retirement Planning Advice
At This is Money we know that retirement planning is a concern for many of our readers, so we've partnered with expert financial planners, Flying Colours, to help you plan for the retirement you want.
Retirement planning advice: why it’s worth paying for
What do you want from your retirement? Different people will have different answers to that question, depending on how they see themselves enjoying their pension years.
For some travel and adventure will be on the agenda, for others the opportunity to spend more time with friends and family closer to home is important.
But whatever their vision for their retirement, an ambition shared by the vast majority is financial security.
What is financial planning?
You may have a healthy pension pot, but creating a financial plan to make it last, deciding where to invest to make the most of it, and getting important tax considerations right, can be a daunting prospect.
This is where working with a financial adviser to achieve your retirement goals can really pay off.
Whether you are saving hard to build up your pension pot, nearing retirement and wondering what you can do to ensure you have enough, or at retirement and want help working out how to generate an income for the rest of your life, seeking professional help is a wise move.
And while you will need to pay for retirement advice, studies show that those who do see its lifetime value far outweigh the initial cost.
Don’t waste your retirement on regrets!
According to Standard Life’s report: Retirement Voice 2023:
41%
of retired men
44%
of retired women
say they wish they’d sought advice or guidance to plan for their retirement.
39%
worry about whether they’ve made the right choices about how they accessed their pension savings.
Less than
4 in 10
people think they’re saving enough for retirement, and 55% are worried that their pension savings won’t last throughout their retirement.
92%
of people
say that a guaranteed income in retirement is important to them, but at the same time, 89% want to be able to access their savings flexibly. Keeping a balance between the two is very tricky, especially if you plan to have money left at the end of your life to pass on.
We explain below how retirement planning advice can help you below, but first take our Retirement Ready Quiz.
Are you retirement ready?
How ready are your finances for retirement? Have a go at this simple online quiz to find out. It’s free and takes just five minutes. You’ll receive a bespoke score, along with tips for how you can improve it.
The value of working with a financial adviser for retirement planning
For many people value in retirement planning can be found in:
- Reducing costs
- Saving tax
- Saving time
- Bespoke advice on highly technical areas around retirement finances, such as using tax allowances, maximising alternative sources of income, long-term care planning and intergenerational planning
- Peace of mind that you’re on track to achieve your retirement goals
The proof that retirement planning is worth it
At Flying Colours, we have a fresh approach to proving our worth. This means that when we present your financial plan, we’ll also provide you with a Personal Value Statement (PVS).
In it, we’ll demonstrate our value in the following ways:
- How we can help you achieve your financial goals
- If and where we can reduce costs
- Where we can save you tax
- How an appropriate and managed risk profile can lead to better outcomes
Although it’s not possible for us to provide you with a Personal Value Statement until after we’ve researched your finances and made our recommendations, you can see an example here:
Got questions?
Use our LiveChat tool to speak directly to one of our Client Relationship team members.
How much does it cost?
Like most financial advisers, our advice fees are based on a percentage of the assets that we advise you on. This is broken down into an initial fee and then, for most clients, an ongoing annual fee.
We can’t provide a price list, because everyone’s finances are different and the cost depends on how complicated your requirements are and the work involved in helping you.
What Flying Colours can promise is that the initial fee is agreed with you from the outset – and we won’t charge you until you have agreed on the work you’d like us to do.
Find out how you could benefit from financial planning
To book a free, no-obligation consultation with an independent financial adviser, book a call with our Client Relationship team.
0330 057 0961
This information page is operated by Flying Colours, which is a trading style of Flying Colours Advice Limited who are authorised and regulated by the Financial Conduct Authority (FCA). Our FCA firm registration number is 672022. You can read more on the financial services register at https://register.fca.org.uk
Flying Colours Advice Limited is registered in England & Wales no. 09075635. Registered Office Address: 2nd Floor, Greenwood House, London Road, Bracknell, Berkshire, RG12 1AX.