Independent Financial Life Planners Bishop's Stortford: Making the most of your pension in your 50's

Tuesday, 13 January 2015

Making the most of your pension in your 50's

With more control over our pensions on the horizon your fifties could well be the best time to review your savings and investments. Around this age earnings typically peak and mortgage and other debts tend to fall even if you still have children as young adults to support.

Enable's IFA’s in Bishops Stortford know this is a time to optimise savings. If you have a company pension make sure you are making the most of it many employers match contributions, often paying £2 in for every £1 paid by the employee up to a set limit.

If you have other savings and investment plans it maybe a good time to review the investment strategy of your pension fund. Some pension funds adopt “lifestyle” techniques where assets are automatically moved into safer assets, such as bonds and cash, as you approach your expected retirement date, if your circumstances have changed this may no longer be an appropriate strategy ie if you plan to retire later, or want to keep your pension fund invested beyond retirement.

New rules giving people more freedom over how they use their pension funds mean far more people – particularly those with larger pension funds – are expected to keep their pension funds invested throughout their sixties and seventies, and simply live off the investment returns.

Traditionally, those in their fifties took a more cautious approach to investing than those in their thirties and forties. But if you are keeping funds invested for a further 20 or 30 years you can afford to take more risk with your money with the aim to generating inflation-beating returns.

Issued by: Enable Independent Financial Life Planners
25c North Street, Bishops Stortford, Herts CM23 2LD
Telephone: 01279 755950 - Fax: 01279 657339
Enable Independent Financial Life Planners is a trading style of Enable Independent Limited is authorised and regulated by the Financial Conduct Authority.
It is important always to seek independent financial advice before making any decision regarding your finances. If you would like any assistance, please contact us.
NOTHING CONTAINED IN THE ARTICLES SHOULD BE CONSIDERED AS GIVING INDIVIDUAL FINANCIAL ADVICE

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IFA Bishop's Stortford

At Enable Independent we know that our clients trust us and rely on our advice to help them to plan a better, more secure financial future. This is a responsibility that we take very seriously especially because we know that many clients have chosen us on the recommendation of friends and family. Each one of our advisers has deep expertise in their area of specialist knowledge and, as a team, we hold some of the highest qualifications available in the financial advice industry.

Our job satisfaction comes from using our skills to find workable, affordable and flexible solutions to meet our clients needs. Whether we are planning for known future funding requirements such as house purchase, school fees or income in retirement - or for the unforeseen such as job loss, long-term illness or early death, our independence from any product provider enables us to view the marketplace impartially. Our training permits us to look beyond a product's marketing hype and select on the basis of its fitness for purpose.