A duty incumbent on all of us within the financial industry, and certainly within my practice at Hoxton, is to help protect and secure the personal economy of the humble hard-working soul.

As a family man driven by high ethics and transparency, I care deeply about my clients and their future. And if I have to spell it out with a bit of ‘Hashtag Activism’, then so be it.

#HighlightYourTwilightYears is a reminder to all and sundry to have a definitive plan for your future finances. In layman terms, I’m talking about your pension.

… Stay with me 24 year old, because this applies to you too.

The sooner in life that you make a pension plan, the better placed you are for a smoother ride to retirement, regardless of the twists and turns that may come your way – marriage, mortgages, babies, school fees, job loss, health issues, mid-life crisis, divorce… all part of the fabric of life and all quite costly.

At Hoxton, we’re here to help you skipper the right path to reach your retirement goals, and of course make any necessary adjustments along the way.  Here are a few things to consider when planning your future:

 How much to save?

You don’t want to fall short. Review your portfolio regularly and if your pot is lacking, a good advisor will be able to highlight several options to help you stay on track – such as compounding the interest on your savings.

Where to keep your savings?

While you’re young, it’s the norm to have pensions scattered here and there, but as you approach retirement, you might want to think about consolidating your pensions so that you know exactly what you’ve got. It’s also a good idea to reassess your risk profile and rebalance your investments if needs be.

Trust planning and understanding inheritance tax

Sit down with your advisor and get your house in order. A little bit of careful planning can help you to avoid unnecessary taxation, ensure your estate is managed properly and reaches your beneficiaries.

Long term care and disability

With a few adjustments to your insurance portfolio, you can quite easily cater for your medical needs, should the unforeseen happen. It’s not something we like to dwell on, however the last thing you will want after a lifetime of hard work is to see your savings dwindle under the cost of care.

To find out more about retirement planning, pensions and savings, call in for a chat with us at Hoxton HQ or click here to drop us a line.

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Chris Ball

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