Savers should consider all options when planning for retirement
We are urging savers to investigate all of the potential investment options available to them when planning for their retirement.
Life expectancy is on the rise and healthcare is becoming more and more advanced, meaning that many people are now living for 20 to 30 years after they retire.
Steve Aston says that right now it is “more important than ever before” for people to consider all of the investment options available to them to maximise their ability to enjoy a comfortable retirement.
“Pensions are one of the most important aspects of retirement planning – and often the first port of call for many savers,” Steve said.
“But equally important is structuring your investments in a tax-efficient way and ensuring that the contributions you pay towards your pensions benefit from tax relief where appropriate,” he added.
“On top of this, it is always wise to consider alternative investment options such as buy-to-let property, which is not without its challenges but can still prove to be very profitable if the right advice is sought.”
Steve said that there are many things people needed to think about when planning for their retirement – such as safeguarding themselves with life insurance, long-term care and medical insurance.
He added that business owners in particular needed to consider the tax implications of business succession and exit planning, while all Britons needed to consider the importance of having a water-tight Will in place which takes Inheritance Tax (IHT) into consideration.
“Preparing for retirement can often look like a minefield at first glance, but with the right advice, it is easy to plan ahead for a comfortable and tax-efficient future,” he said.