Financial Insights

Retirement Planning

2nd Dec 2022

3 minute read

Paul Dredge

Paul Dredge

Client services director

Compare Wealth Managers


Finding the right investment approach to suit a person’s retirement needs has become a lot more complicated in recent years.


What is Retirement Planning?

Specialist financial advice focused on ensuring you have enough money to last you through retirement, as well as planning for events such as later life care.

What areas will Retirement Planning cover?

Retirement planning usually includes advice on starting a personal pension, consolidating different workplace pensions, advice on annuities, and making sure that your existing arrangements are likely to pay you a good level of income throughout your retirement. A specialist retirement plan will also factor in your personal attitude towards investment risk and return.

What will the initial meeting be like?

Your wealth manager will want to ask you about your existing financial affairs, including any pensions you have. They will also want to ask you about your retirement hopes and ambitions, to get an idea of the retirement lifestyle you want, and how much income is needed.

After the initial meeting, they will review any existing pension arrangements, to make sure they are working hard enough. They may calculate how much money you will need throughout your retirement, and recommend a pension with the right blend of investments to achieve the level of growth you require. They will also look at your personal circumstances and make sure you are able to claim any available tax allowances.

How do you pay for Retirement Planning?

After the initial meeting, the financial adviser will usually put together a proposal based on what you discussed. If they make any recommendations, they’ll explain the reasons why, as well as inform you of any fees and charges.

What’s most important to remember?

Finding the right investment approach to suit a person’s retirement needs has become a lot more complicated in recent years. It can be very hard to make truly informed decisions about how much you will need to retire comfortably without getting expert financial advice.

In our experience…

People often worry that they won’t be able to have a comfortable retirement, and put off doing anything about it. However, talking to a fully qualified retirement planning expert should make you feel much more confident about your plans for life in retirement. We can help you to find the right professional to help create a retirement plan designed specifically to support you and your family.


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