UnaVida | Worried about your Retirement and Pension.

Worried about your Retirement and Pension.

Worried about your Retirement and your Pension !

I know, I shouldn’t be worried, after all, I have a big pension, and I appreciate all you do to look after it, but I still worry about what will happen to the investment markets and whether I will have enough money to provide for me and my family in the future.

It is OK to feel anxious, most people are when it comes to dealing with financial matters, so you are not alone.

We have plotted your current income and expenditure and projected this forward for you, so that gives you an idea of what your future could be like “based upon assumptions that you agreed are reasonable”. Although this took quite a bit of our time to do this for you, it is after all just an educated guess.

So, looking at your overall financial situation today, it would seem as though you have more money than you could ever spend, but that may not stop you from worrying.

The one constant in life is change, which leads to uncertainty, how about if we look through all the work we have done together and place a big tick against all the items that we have worked on that provide a measure of certainty?

Investment & Pension Portfolios – highly diversified – TICK

Cash deposits within the portfolios, so you are making withdrawals against cash, rather than fluctuating investments – TICK

Getting rid of non-performing assets – TICK

Hang on, what was that you said?

Don’t you remember we calculated the yields you were getting on your buy-to-let properties and you decided to get rid of those with the lowest yields?

Oh yes, and those investments that were not doing anything, OK TICK then.

Re-drafting your Wills and setting up Trusts, so monies go only to your bloodline – TICK.

As far as me and my wife are concerned that is a BIG TICK.

And lasting Powers of Attorney for you and your wife – TICK.

I didn’t think those were really necessary, at the time but we accepted your advice. My next-door neighbour had a stroke a few months ago and he is only 52, so that really came home to me – YES TICK!

So, you see Frank, everything that is under your control you have taken action on, everything else is in the lap of the Gods, so all you can do about that – is to let go.

Do you know what, you’re right life’s too short, let’s go to the pub. I want to buy you a drink!

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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.