Retirement Marathon

Retirement Marathon

If you were planning to run in the Abingdon Marathon in October this year, then just to let you know that the entries are now closed.

Running and training for a Marathon is a bit like preparing financially for retirement, starting your preparation early is advisable.

Yet one in seven of those planning to retire this year have made no personal pension provision and will be either totally or heavily dependent on the State Pension, according to research by Prudential.

The reality of many people’s reliance on the State Pension is underlined by the research, which shows that nearly one in five of those planning to retire this year will have an income below £8,600 a year.

To reach a minimum socially acceptable standard of living, a retired couple need an annual income of more than £12,500.

It’s nice to get out of the rat race, but you have to learn to get along with less cheese” – Gene Perret

Is that the sort of financial future that you have?

More than 6 million Britons aged over 50 have no pension plan in place and look set to rely solely on the state pension in retirement. Yet almost half say they couldn’t live on this income alone.

Do you really want to have to go out to work after you have passed retirement age ?

If you’re unsure where you stand on pensions or your future income, why not contact us for a friendly chat and some advice.

Registered in England and Wales. Registered Number 5553273.
Registered Address: 8f Millars Brook, Molly Millars Lane, Wokingham, Berkshire, RG41 2AD.

A pension is a long-term investment that typically cannot be accessed until age 55 (57 from April 2028). The level of pension benefits offered could change depending on the value of your investments (and any income they may generate).

The interest rates in effect at the time you begin receiving benefits may also have an impact on your pension income. The tax consequences of pension withdrawals will depend on your unique situation. In later Finance Acts, tax rates, tax bases, and tax relief may change.

The opinions expressed by Ray Best are meant to inform and educate. Before making any investment decisions always take advice that is pertinent to your investment personality and financial situation.

You are aware that past performance will not necessarily be repeated in the future, but you should be aware that persistent poor performance invariably will.

The value of an investment and the income from it could go down as well as up.

The return at the end of the investment period is not guaranteed and you may get back less than you originally invested.

UnaVida Wealth Management Ltd. is directly authorised and regulated by the Financial Conduct Authority (440577).

The guidance in this website is primarily aimed at a UK audience and is subject to regulation by the Financial Conduct Authority (FCA).

The Financial Conduct Authority does not regulate tax planning, estate planning, or wills and any form of legal documentation.