{"id":72,"date":"2018-09-12T07:00:05","date_gmt":"2018-09-12T06:00:05","guid":{"rendered":"http:\/\/www.a1-financial.com\/blog\/?p=72"},"modified":"2018-09-10T09:23:49","modified_gmt":"2018-09-10T08:23:49","slug":"should-i-stay-or-should-i-go-now","status":"publish","type":"post","link":"https:\/\/www.a1-financial.com\/blog\/should-i-stay-or-should-i-go-now\/","title":{"rendered":"Should I stay or should I go now?"},"content":{"rendered":"

Key aspects that influence retirement decisions<\/strong><\/p>\n

Whatever you want to do when you retire, the better prepared you are, the more rewarding it will be. It\u2019s important to assess the key aspects that will influence your retirement, as the decisions you make can have a real impact on your savings.\u00a0There are some important considerations to think about.<\/p>\n

Timing<\/strong><\/p>\n

\t\u2022\tDrawing savings too early is likely to result in lower returns and\/or\u00a0lower lifetime income
\n\t\u2022\tDrawing savings later may not result in higher returns \u2013 this depends on how you invest and use your savings<\/p>\n

Capital requirements<\/strong><\/p>\n

\t\u2022\tMany people withdraw capital from their pension savings not because they \u2018need\u2019 it but because they can, and they end up just retaining it in a less tax-efficient environment
\n\t\u2022\tMeeting income needs from capital could be extremely efficient \u2013 it may even be necessary<\/p>\n

Income requirements<\/strong><\/p>\n

\t\u2022\tThere are choices to make\u00a0between generating income now versus providing for your future
\n\t\u2022\tYou may also continue earning some income during retirement through paid work, business ventures or even lucrative hobbies
\n\t\u2022\tYour income needs are likely to vary over time, and some expenses are fixed while others are variable. Most critically, long-term care can prove expensive
\n\t\u2022\tYour income preferences are also key \u2013 having a known stable income source may be preferable to having a higher but less stable income
\n\t\u2022\tGenerating surplus income is inefficient from a tax perspective<\/p>\n

Attitude to risk<\/strong><\/p>\n

This is the trade-off between relative safety (which you may choose out of concern) and taking risk (which you may choose with an aim of achieving growth). Your attitude may also change as you accumulate wealth (because you have more to lose) and as you get older (because you have less time to recover if your investments fall in value). But risk is never completely eroded \u2013 even with cash or an annuity.<\/p>\n

You also need to ask yourself some of the following questions:<\/strong><\/p>\n

\t\u2022\tWhat is my life expectancy, and how much money will I need to achieve my retirement plans?
\n\t\u2022\tHow could my income and capital needs change in the future?
\n\t\u2022\tDo I have an effective plan to leave a financial legacy?
\n\t\u2022\tHow much money would my spouse\/partner need if I die before them?
\n\t\u2022\tHow might I protect against the effect of inflation?<\/p>\n

Helping you plan and enjoy your future<\/strong><\/p>\n

Regardless of the life stage you have arrived at, it is important to receive expert and professional financial advice on your pension plans and\u00a0requirements. Talk to A1 Financial Solutions on 0131 347 8855 or email info@a1-financial.com about your circumstances, wants and needs. We will then assess how close you are to achieving them based on your current plans \u2013 please get in touch for more information.<\/p>\n","protected":false},"excerpt":{"rendered":"

Key aspects that influence retirement decisions Whatever you want to do when you retire, the better prepared you are, the more rewarding it will be. It\u2019s important to assess the key aspects that will influence your retirement, as the decisions you make can have a real impact on your savings.\u00a0There are some important considerations to… Read more »<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"_links":{"self":[{"href":"https:\/\/www.a1-financial.com\/blog\/wp-json\/wp\/v2\/posts\/72"}],"collection":[{"href":"https:\/\/www.a1-financial.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.a1-financial.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.a1-financial.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.a1-financial.com\/blog\/wp-json\/wp\/v2\/comments?post=72"}],"version-history":[{"count":1,"href":"https:\/\/www.a1-financial.com\/blog\/wp-json\/wp\/v2\/posts\/72\/revisions"}],"predecessor-version":[{"id":73,"href":"https:\/\/www.a1-financial.com\/blog\/wp-json\/wp\/v2\/posts\/72\/revisions\/73"}],"wp:attachment":[{"href":"https:\/\/www.a1-financial.com\/blog\/wp-json\/wp\/v2\/media?parent=72"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.a1-financial.com\/blog\/wp-json\/wp\/v2\/categories?post=72"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.a1-financial.com\/blog\/wp-json\/wp\/v2\/tags?post=72"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}