DownsMail Advertisement feature Take the time to plan for retirement
than ever to start saving into a pension as early as possible and wise parents and grandparents should encourage their children/grandchildren not to ignore this warning!
Christine (front left) and her Team at Invicta IFA
We have all felt the effect of austerity but according to statistics, retired people have suffered considerably more than others. Savings rates are lower than the rate of inflation which means that pensioners are having to dip into their capital to make ends meet. This situation could continue for years so it is important to consider other methods of investing such as a stocks and shares ISA which could pay you tax free income.
If you are about to retire, ask an adviser to research the best annuity rate which is even more important since the change in Gender Rules. It is estimated that 2 out of 3 retirees do not explore the open market option and stay
with their existing pension providers and those people may be losing out. If you suffer from diabetes, high blood pressure or other existing health conditions, don’t forget to ask if you will qualify for an ‘Enhanced Annuity’. Look into additional benefits such as spouse’s pensions, death benefits or index linking the annuity to keep pace with inflation. If the annuity rate you have been offered is very low, you will need to take advice on whether to consider a Fixed Term Annuity or an Income Drawdown Plan.
Today’s 33 year old will probably not receive a state pension until they reach 70 or even older! It is more important
Equity Release can be used to assist retired homeowners who are asset rich but cash poor by releasing some of their capital to help maintain or improve their standard of living. There are a range of options available including, lump sum, income and flexible drawdown.
Products
offer a valuable solution to those in need but due to the risks involved it is important to speak to an adviser who can explain the disadvantages in addition to the benefits. If you are considering an Equity Release Scheme, it is important that you do not make the wrong decision. There may be an alternative solution which you have not considered.
For more information refer to our website or why not call now to discuss your New Year’s Resolutions?
Have you reviewed your finances recently?
Invicta Independent Financial Advisers can help with all your financial planning enquiries. We are a local business offering a friendly but professional service to individuals and small businesses. Our specialist areas include:-
• Mortgages • First Buy/Shared Ownership
• Income Protection • Life Assurance • Business Assurance • Pensions & Retirement Planning
• Annuities • Savings & Investments • Trusts & Inheritance Tax Planning
• Equity Release
Telephone: 01622 662636
Email:
enquiries@invictaifa.co.uk www.invictaifa.co.uk
Address: Invicta IFA, 1st Floor Falcon Court, 73 College Road, Maidstone, Kent, ME15 6TF
Registered Office: The Granary, Hermitage Court, Hermitage Lane, Maidstone, Kent, ME16 9NT. Registered in England No. 3330755.
Invicta IFA Limited is authorised and regulated by the Financial Services Authority.
The Financial Services Authority does not regulate taxation and trust advice. There may be a fee for mortgage advice, the precise amount of the fee will depend upon your circumstances but we estimate that it will be £395. Your home may be repossessed if you do not keep up repayments on your mortgage.
To understand the features and risk of an Equity Release plan please ask for a personalised illustration. Visit Downs Mail’s website —
downsmail.co.uk
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