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Is your mindset holding you back from enjoying your retirement? Financial planning could help

Sponsored feature | David Foster, chartered financial planner, Gibbs Denley Financial Planning

David Foster, of Gibbs Denley Financial Services (63395437)
David Foster, of Gibbs Denley Financial Services (63395437)

Putting money away has likely become a habit that you’ve embraced for decades. Perhaps you contributed to a pension, paid your mortgage off, or invested with a long-term plan.

Once you retire, your routine and relationship with money changes. Rather than building up assets, you will start to deplete them.

Financial planning can help you understand what lifestyle you want

When you think of financial planning, it’s probably money that comes to mind first, like managing investments or highlighting tax allowances.

Effective financial planning starts with understanding what you want to achieve. For those at retirement, focusing on what you want your lifestyle to look like is an essential part of the process.

A long-term financial plan can give you the confidence to deplete your assets

One reason retirees are often reluctant to deplete assets is that they worry they’ll run out of money. The decisions you make at the start of retirement could affect your finances for the rest of your life.

A financial plan helps you understand what income is sustainable by considering a range of factors, from longevity to inflation. It also allows you to voice concerns, such as how you would cope if investment performance didn’t meet expectations.

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A financial plan will consider the assets you want to leave for loved ones

Perhaps you worry that depleting assets now will mean you don’t leave an inheritance to family members.

An LV= survey found that 88 per cent of people hope to leave money to their family in their will. A financial plan can help ease your mind.

Contact us to talk about your retirement goals

If you’re nearing retirement or have already retired, please get in touch. We can help you create a financial plan that gives you confidence to use the assets you’ve built during your working life. Call 01954 233650 or email financial@gibbsdenley.co.uk.

This article is for general information only and does not constitute advice. The information is aimed at retail clients only. A pension is a long-term investment. The value of your investments can go down as well as up, which would have an impact on the level of pension benefits available. Gibbs Denley Financial Planning is a trading style of Gibbs Denley Financial Services Ltd.

Visit gibbsdenley.co.uk.

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