WHY IT’S IMPORTANT NOT TO VIEW YOUR PORTFOLIO WITH AN ELEMENT OF FINALITY
Retirement is a major accomplishment for most people. You’ve worked hard all of your working life to save and prepare for your retirement, and now you’ve finally retired. So how should you approach investing now that you’re no longer earning a salary? When it comes to investing during retirement, with the right strategy, you can help make sure your
retirement savings last.
Regardless of what retirement looks like to you, the key is to enjoy this time of your life, while making sure you don’t outlive your retirement savings. If you’re on the path to or currently in retirement, you will want to make your money go the distance. To ind out how we can help you explore your options, please contact us to discuss your requirements.
ENSURE YOUR FUTURE INCOME WILL ALLOW YOU TO ENJOY THE LIFESTYLE YOU WANT
Preparing for retirement is like getting ready for a journey – it never goes quite as planned. But the better the plan, the better the outcome. When things go wrong, you want to have the flexibility to adapt to changing circumstances. You never know what retirement will be like until you get there.
ENJOYING THE NEXT PHASE OF YOUR LIFE
Whatever vision we all have for our retirement, it should be one of the most enjoyable periods of our lives. So, if you’re concerned you won’t have enough income in retirement to maintain your retirement lifestyle, please contact us
TIME IN THE MARKET, NOT TIMING THE MARKET
During this dificult time, fear and worry are understandable, particularly as the coronavirus (COVID-19) outbreak led to the biggest daily drop in the FTSE 100 since the financial crisis of 1987.
Trying to second-guess the impact of events such as the coronavirus or the recent stock market volatility – or even attempting to make a bet on them – rarely pays of. Instead, investors who focus on long-term horizons – at least five to ten years – have historically fared much better.
History shows again and again that the ups and downs of diferent types of market conditions are part and parcel of investing. The key is to remain calm when stock markets fall. Don’t panic. Don’t frantically sell. If you can avoid it, don’t even log into your investment account.
LIFE’S FULL OF SURPRISES
If you would like to discuss your future plans or require any further information, please reach out.
Last month was challenging and I can’t remember a time where so much changed, so quickly.
The Coronavirus pandemic is causing enormous disruption in the world. People are worried about the health of their loved ones, and despite the Government’s massive intervention, the short term effect on the economy will be significant. The true impact will only be known when the lock down is over, and a vaccine is globally available. No one knows exactly when this will end, but history illustrates the worlds remarkable resilience at dealing with seismic shocks. This too will pass.
Paul & Nigel are completely focussed on guiding the Imagine team through this period both intact and stronger as a team. It’s critical that at this difficult time, we are here for our clients.
Digital is working well for us, and we will continue to find new ways of doing our job. The current situation forces the speed of change and offers opportunities for all of us. There is also the reduction in travel, and the positive impact this will have on our businesses carbon footprint. Finally, and most importantly, we have an unexpected opportunity to spend more time with our families.
When this is done, we will reflect on the positives, and make sure that Imagine continues to evolve as a forward-thinking business.
Finally, I want to take this opportunity to show our respect and appreciation for the front-line health workers who are risking their own wellbeing to help look after others.
We are here if you need us, or just want to talk, don’t hesitate to get in touch.
RETIREES NOW HAVE A WHOLE HOST OF NEW OPTIONS
The pension freedoms, introduced on 6 April 2015, have given retirees a whole host of new options. There is no longer a compulsory requirement to purchase an annuity (a guaranteed income for life) when you retire. The introduction of pension freedoms brought about fundamental changes to the way we can access our pension savings
There is now much greater flexibility around how you take your benefits from Money Purchase Pension (Defined Contribution) schemes, which include Self-Invested Personal Pensions (SIPPs).
THINK CAREFULLY BEFORE MAKING ANY CHOICES
The pension flexibilities may have given retirees more options, but they’re also very complicated, and it’s important to think carefully before making any choices that you can’t undo in the future.
Withdrawing unsustainable sums from your pensions could also dramatically increase the risk of running out of money in your retirement.
To discuss your options, talk to us at a time that suits you
Most of us have probably made at least one New Year’s resolution, but how many of us will actually go on to achieve it?
We all have different financial goals and aspirations in life, yet these goals can often seem out of reach. On page 04 of our new Lifewealth Magazine, if your New Year’s resolutions include giving your financial plans an overhaul, we’ve provided our planning tips to help you create a robust financial plan for 2020 and beyond.
It’s a dream for many that after years of hard work, it’s finally time to travel to far-off lands and enjoy retirement without worrying about finances. With milder winters, warmer summers and the potential to get more from your pension pot, it’s not surprising that some people decide to retire abroad. On page 12, read about how, with some planning beforehand, the dream of retiring abroad can become a reality.
Everyone has unique goals in life, and with professional financial advice and guidance tailored to your needs, we can help you get there. The start of a new year is the perfect time to discuss your financial plans.
Please don’t hesitate to contact us – we look forward to hearing from you.
REACHING THE BIG 50 CAN BE A FINANCIAL WAKE-UP CALL
Your 50s are a crunch time when saving for your retirement. If you’ve already set a retirement savings target but have been neglecting it, the reality is that now you can’t afford to delay your planning any further – and it’s time for a careful review.
Are you on track to retire when you want to? Do you have enough in your pension pot to retire comfortably? A comfortable lifestyle means different things to different people. If you’re in your 50s, it’s important to make retirement planning a priority if you haven’t done so already. At this age, retirement is no longer a distant concept, and time is short if your plans aren’t on track.
Now is the time to think about your retirement income goals and the steps that you need to take to achieve your goals. One of the most important things to do in your 50s is to work out how much money you’ll need to retire comfortably.
DO YOU KNOW THE ANSWER TO THESE QUESTIONS?
Q: When do I want to retire?
Q: How much income do I want in retirement? Q: Do I have previous personal or company pension plans that need reviewing? Q: Can I work part-time and take some of my pension?
Q: How much will my State Pension be?
Q: Where is my pension money invested, and is it growing?
Q: Can I retire early?
Are you already saving into your pension or just getting started? Whatever stage you’re at, we’ll give you a clear idea of how much you’ll need to afford the lifestyle you want after you retire. To find out more or to discuss your requirements, please contact us
We recently sent an email to our clients for the amazing recommendations and introductions we have received during 2019. See below.
Our role is to first and foremost, improve as many lives as we can ; it’s how Imagine has grown so much over the last few years.
You have been kind enough to introduce your friends and family to Imagine during 2019.
We wanted to say THANK YOU.
Each and every one of you is important to us – we care deeply that we do great work for you. If you do have friends or family that need our help, we are always here. For you to be happy, the people you care about need to be happy too!
So if they should ever need us, you just let them know.
We can quickly arrange a 30-minute phone call, free of charge, just to see if we can help solve any big financial concerns – we know they can happen at any time.
A bucket list is important for one thing and one thing only. Want to know what it is?
It is happiness!
When we cross things off our bucket list the immediate emotion that results is happiness. Achieving a goal makes us all happy. Merely ticking it off our list gives us a great sense of satisfaction. It puts a smile on our face, especially if it’s a real accomplishment.
“Happiness lies in the joy of achievement and the thrill of creative effort.” – Franklin D Roosevelt
Even if you frequently live by goals or to-do lists, they are probably framed within a certain social context e.g. your performance, career, health. A bucket list opens up the context. It’s a forum to write down anything and everything you’ve ever wanted to do, whether it’s big, small or random. It’s just like pinpointing all the highlights you want for your whole life
If you don’t have a bucket list, why not start one today? It won’t cost a penny to produce – only your time.
How long will it take? Only about 30-60 minutes (more if you get really caught up in it). What do you stand to gain? Significant clarity and focus on what you want from your life. It’s an invaluable exchange.
Come up with as many items as you can. The items should be things you have not done yet. Don’t stop until you finish listing at least 101 things!
If you find yourself stuck, chances are you are mentally limiting yourself. Release those shackles. Your bucket list is meant to be a list of everything you want to achieve, do, see, feel and experience in your life.
Good Luck !
When should you retire? How much money do you need ?
In trying to answer these questions, you face a problem. Because of longevity trends, we are on average living longer. With longevity increasing, your wealth may have to provide you and your spouse or partner with an adequate income for 30 or even 40 years.
Britons aged 30 today have a 50% chance of living to more than 100, while 50-year-olds have an even chance of reaching 95. Longer lifespans, however, raise financial challenges – for individuals as well as for families and society.
The idea of a retirement lasting many decades may seem appealing, but longer retirements mean more years of living off your pension and savings.
Will yours be enough ?
 The 100 Year Life: Living and Working in
an Age of Longevity, by Andrew Scott and Lynda
Gratton, September 2018