The Right Financial Choices Could Make A Six Figure Retirement Difference
By
3 months ago
Are you prepared for the future?
When it comes to retirement, the choices can feel overwhelming. Which is why seeking help from the experts can help you navigate your options, to make the most of your financial assets to secure your retirement income and protect the needs of your family. Quilter Cheviot Financial Planning shares a story about one woman’s retirement plan, and a redundancy package that made all the difference.
Retirement Case Study: Meet Anne
‘Anne*, a valued customer at Quilter Cheviot Financial Planning, came to us with a financial dilemma. Referred by a friend and existing client, she worked for a company for over a quarter of a century and was offered a redundancy package that was too good to refuse. Unfortunately, in life few things are ever that simple. At the time, there was little in the way of support to help figure out the best way to take pension benefits. Her first thought? Similar to many; grab the whole severance package, pay the tax, and opt for the pension plan that provided what appeared to be the best option.
‘Thankfully, Anne took a step back before making a decision, and instead turned to professional help available at Quilter Cheviot Financial Planning. Together, we sat down, crunched the numbers and even looked at her retirement income needs.’
Find A Financial Hidden Gem
The team at Quilter Cheviot Financial Planning quickly realised that the conventional paths didn’t lead to the most advantageous outcomes for Anne. So they dug deeper and uncovered a hidden gem: there was a gap in the pension options being offered to Anne in her benefit statement.
With this information, the team was able to turn this to the client’s advantage to achieve the greatest value for Anne and her family’s future. Without specialist help from Quilter Cheviot, Anne may have missed this opportunity.
Along with tax savings associated with directing some of the redundancy package into the pension as an employer contribution, the additional financial value added to her and her family was into six-figure territory.
Photo by Quino Al on Unsplash
Find Out More
Navigating retirement planning can be daunting, which is why a specialised Financial Planner can be indispensable. They will evaluate your financial position, your goals, and your needs to craft a retirement strategy that is tailored to the lifestyle you envision for yourself, both pre- and post-retirement.
If you or a loved one is planning for a retirement, Quilter Cheviot has created a free retirement report; a one-stop shop for everything you need to plan for a retirement. To get your copy, click the link below.
*Anne is a fictitious character created purely for illustrative purposes.
