Retirement cash flow planning is the process of forecasting your income and expenses during retirement to ensure financial stability. It involves calculating expected income from pensions, savings, investments, and other sources, and comparing it against anticipated expenses.
The amount of cash flow you need to retire comfortably varies based on your lifestyle, location, and personal goals. A common guideline is to aim for a retirement income that's about 70-80% of your pre-retirement annual income.
Whether you need a financial adviser depends on your comfort level with managing your finances and the complexity of your financial situation. If you're unsure about making investment decisions, planning for retirement, or navigating tax laws, consulting a financial adviser can provide valuable insights.
A comfortable retirement income is one that allows you to maintain your standard of living after you stop working. The amount of income needed to achieve this will vary from person to person, depending on their individual circumstances. This article explains further: https://ttwealth.co.uk/what-is-a-good-pension-pot-at-55/
Whilst it is, of course, possible to pause or cancel pension contributions, the impact on your pension savings and therefore your retirement income could be significant. I highly recommend that you speak with your pension provider, or get independant financial advice before taking any action. For further information please read the following article: Pausing [...]
Ethical investing is an investment approach that takes more than just financial return into consideration when deciding where to invest. The goal is to align the investor's personal values with the investment, looking at aspects of company practices and policies in areas such as human rights, environmental sustainability and social justice. It is also [...]
There is some confusion about whether or not pension contributions are taxable. In general, contributions to a pension plan are considered to be a pre-tax expense. This means that you will not have to pay taxes on the money that you contribute to your pension plan. However, there may be some exceptions to this [...]
A workplace pension, also known as an occupational pension, is a retirement savings plan offered by an employer. Employees contribute a portion of their monthly salary to the plan, and the employer often matches those contributions. The money in the plan grows over time, and can be withdrawn once the employee retires. There are [...]
A stakeholder pension is a type of pension plan that is designed to benefit both the employer and the employee. It is a defined contribution plan, which means that the amount of money that is paid into the plan is predetermined. This type of plan is different from a traditional pension plan, which is [...]