- How should I plan for my retirement?
- How can I plan for my children's education?
- How do I develop an investment strategy that supports my lifestyle?
- I have money to invest. Where do I begin?
- How can I lower my tax bill?
- How can I ensure the financial security of my family?
- How can I ensure that my wealth is transferred to my loved ones?
- How do I manage my credit and liquidity needs?
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HOW WE APPROACH YOUR NEEDS
How should I plan for my retirement?
For many, retirement is the reward for a whole lifetime of work. After years of everyday effort, maybe you're dreaming of travelling, playing golf every day, or spending more time with your family. If planning for this is already at the top of your list of financial goals, that's exactly where it should be.
How It Starts
When you start planning for retirement, one of the first questions you'll have to address is how much money do you need to retire?
At first glance, it seems like a simple question. Until you start to look at it closely and see that there are many more pieces to the puzzle. You probably have other financial responsibilities, like saving for your child's or grandchild's college education or working to pay off your mortgage. Then there are the day-to-day financial demands like food, shelter and bills. Because it can be overwhelming, some people panic or put it off all together. But you don't have to be one of them.
How We Can Help
Deciding how to put all the pieces in place is key to your retirement strategy and that's something Edward Jones can help you do. We'll go through everything you need to know and the questions you need to ask yourself. For example, do you want to maintain your current lifestyle after you retire? How do State benefits play a part? What estate planning issues should you consider?
We can also talk to you about your specific financial goals and concerns. We can estimate how long your current savings can last. We can also explain how individual savings accounts (ISAs) and pensions work and the benefits of 'pre-tax' savings.
Growth comparisons with and without tax relief*
| Without | With | |
| Annual Investment at 8% | £10,000 | £12,500 |
| Total Investment over 20 years | £200,000 | £250,000 |
| Value at Retirement (Start saving at age 45) | £457,260 | £571,575 |
Growth of a £10,000 initial investment assuming a basic rate tax of 20%. Interest compounded at 8% annually over a 20 year period.
* This calculation assumes a hypothetical 8% rate of return compounded on an annual basis and is for illustrative purposes only. It does not represent any investments currently available.
Source: Edward Jones
To talk about your retirement plan and needs, contact your local financial adviser for a complimentary retirement analysis. Making a plan and sticking to it is half the battle and we can help you do both.
