Portfolio retirements

As the dust settles on the radical freedoms Mr Osborne outlined in last Wednesday’s Budget at Enable of Bishop’s Stortford our IFA’s can see more clearly that the changes will give future generations the opportunity to be creative with their pension and other assets. It seems clear that the changes will significantly increase an already emerging trend of what is being called "portfolio" retirement income, where people combine paid work with regular income from property or other investments and annuities.

If you are planning for retirement there will be the challenge of choosing among a far wider range of investment possibilities but essentially everyone will still be trying to do as all retirees have always had to do and that it to make their assets last as long as is needed while generating the maximum income from them. One retirement specialist said recently: "Income planning for retirement is, and always has been, about delivering a sustainable income to meet a client's needs. And nobody wants their pension to expire before they do."

Enable’s Independent Financial Advisors imagine that annuities could very well still form part of a savers' overall retirement income plan - although in many cases they are likely to play a far smaller role and it will probably just be one of several income streams. If you want help, to work out portfolio future Enable’s IFAs might very well be able to help.


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

Thinking of retiring early?

When it comes to thinking about actually retiring early Enables IFA’s know that both the big picture and the fine details of your financial position as well as your  emotional state need to be taken into consideration when working with you to assess your readiness for early retirement.

If you're not emotionally ready to stop working and give up all the positive aspects of work like being stimulated, working in a team , meeting new people and going to new places you really may not be ready to retire early or late. "What are you planning on doing that will continue to allow you to enjoy your life, allow you to stay active mentally, emotionally and spiritually?" asks Richard Reyes, who is a professional and a coach with The Financial Quarterback in Maitland. "In retirement, every day is Saturday." he points out.

Being financially ready is much easier to assess if you have no debt, a good pension that more and more, even in the UK should maybe include some health insurance, some good savings and low expenses you probably have enough in place to lead to retiring early. In most cases, the early 50s is about the most realistic time for early retirement and to be financial successful it often involves an inheritance to boost assets.

While some tend to associate retirement with a specific age, "It's really about getting your budget and liabilities under control, then having a clear understanding of the resources available to create the desired and consistent retirement income you need," says Sean Lee.  Enable’s IFA’s are here in Bishops Stortford to help you with the big picture and the fine detail.

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

Financial Planning for Care

Last year, those reaching age 65 across the UK had assets worth around £100bn. Our experienced Independent Financial Advisors at Enable in Bishop’s Stortford know that many of those billions will be converted into income in the next few years as people want to enjoy their lives but much of the rest will ultimately spent on care or passed on as inheritance.

Providing for Care in later life is poorly understood by many but health is extremely important to think about because, while retirement may reduce work stress, there is evidence that giving up work can lead to adverse longer-term effects, perhaps due to reduced physical activity and social interaction. At Enable our IFA’s can see for themselves that may people are living longer but healthy life expectancy has not increased as rapidly.  This means many more people spend many more of their retirement years in poorer health, which can have a huge impact on both the cost and standard of living.

Care however is hard to plan for – not just because the whole structure of social care is currently under review and set for reform and will probably have to reform again and again. About one in three older people require care in later life so, although the odds are against it happening to us, we should not be surprised if it does. Enables experienced Independent Financial Advisors are used to talking through difficult financial planning like this – having a plan is a real step in the right direction.

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.

Dreaming of early retirement?

Enable’s independent Financial Advisors in Bishops Stortford often find themselves chatting to people about the possibility of early retirement. In your twenties and thirties it is easier to ignore retirement planning, but in your forties and fifties the daily grind can feel more and more just that. Enables IFA’s often hear people say they want to enjoy life “while they still have all their own teeth”. People want to travel the world, when they are healthy and in the prime of life, visiting those hard-to-pronounce countries they’ve always talked about and sampling the finest local fare.

Surveys show that more than half of workers between the ages of 30 and 50 plan to retire before they're 60 but there's only one problem with this wishful thinking: Retiring early is easy, but making your money last is hard. Enable ‘s IFA’s know the problem with saving up for early retirement is that we tend not to think beyond those first few glorious years of good health and full bank accounts -- we don't do the long-term thinking. If the average male life expectancy is 75.2 and we retire at 55, then our savings and investments need to last for 20 years.

And what if we live even longer than average? Life can get more difficult during those last five or 10 years -- not to mention the ever-increasing costs of care. Enables IFA’s in Bishops’ Stortford can help bring an edge or reality to your retirement dreams.

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.