Answered: Your FAQs About Retirement Planning

Are you considering starting your retirement planning?

It’s one of the most effective ways to help build your wealth towards your goals and ensure the highest chance of a comfortable retirement.

If so, there are likely a number of questions you have, ranging from where you can find investment guidance to the process of consolidating your pensions.

We’ve got you covered. Here are the common FAQs on retirement planning

Q: When can you start retirement planning?

Not only can you start retirement planning at any time, we recommend you start as soon as possible. Whether you’re fast approaching your retirement or simply thinking about the future, retirement planning can help you structure your finances in the right way.

Q: How do you start retirement planning?

One of the most effective ways to plan for your retirement is to seek a modern wealth management service that offers retirement planning. This can allow you to receive a wide range of beneficial services, from expert advice to fully managed pension investments. Contact your modern wealth management service now to get started.

Q: Can you speak to a professional to help with the process?

Yes. Speaking to a financial adviser can be essential for reaching all of your retirement goals as efficiently as possible. Your adviser will tailor their advice to meet your specific requirements, so you have a plan designed around your unique financial situation. Your goals and any potential challenges you might be facing can all be discussed and addressed in your plan, with your expert’s help.

Q: Why is retirement planning important?

Retirement planning is important for any investor looking to secure a comfortable retirement and achieve their financial goals. You can plan out your pension contributions to grow your savings towards retirement, whilst sheltering your money from tax. You can also plan these investments in a way that aligns with your financial circumstance and any targets you want to reach.

Q: How do you consolidate your pensions?

A key part of retirement planning is managing your personal pension, which also means potentially consolidating your previous pensions with a new account provider. To do this, simply contact your new provider and give them the necessary information, and with the right modern wealth management service, they can handle the rest of the process seamlessly on your behalf.

Q: How long does it take to transfer your pension?

The time it takes to transfer your pension will depend on the type of pension and provider involved. We recommend allowing 2-6 weeks, but contact your new and previous providers for a more accurate estimate.

Q: How is your pension invested

Your pension can be invested according to your own specific needs, especially when you have a modern wealth manager handling your account. You can pick from a range of expert portfolios designed to offer the right level of risk and potential reward for your pension. Some providers offer an advanced wealth-building platform where you can access, review, and control your investments online.

If you have any more questions that we didn’t answer surrounding retirement planning, you can always get in touch with your modern wealth manager for a more in-depth discussion of your finances. This will help you find an approach to building your wealth for retirement that suits you.

Please note, the value of your investments can go down as well as up.