PROMOTION Smith & U Williamson How much money do you need in retirement? One of the key wealth management considerations when planning for the future is how much money will you need to have for a comfortable retirement. Furthermore, how long will your fund last you? live to 85. The 85+ group is the fastest growing and is set to double to 3.2m expectancy data, but the reality is that by mid-2041 (ONS, 2018), while the number of centenarians living in the one-size fits all approach to planning for UK has increased 85% in the past 15 years (ONS, 2018). Incidentally, one in five millennials will now live to 100, but most only believe they will live to We can make assumptions for expenditure and use average life appropriately managed throughout every stage of life is just as important, There is no simple formula for calculating how much money one needs in order to be able to retire, as there are countless factors that have an impact on the answer. Any of these considerations can and will change over the course of our lives. With these changes our strategy might need to change also, which is why we believe that having an approach that is tailored to the individual's needs, rather than just being picked off the shelf, is the best way to achieve your objectives. everyone is different and there is no the future. The eartier you start to accumulate capital for retirement, and how the investments are managed and subsequently perform, can have a significant impact on the size of your fund. This in turn can impact your level of comfort in retirement. It is therefore age 79. As well as underestimating longevity, people often do not factor in potential capital events that can have an impact on the longevity of their fund. Whether it is funding university costs, paying for a wedding, helping children to get onto the property ladder or having to pay for one's own care in later life - all of these things need to be taken into consideration when creating a robust and well thought out investment strategy. vital to have not only a financial plan, but also an engaged investment management strategy that can take you up to retirement and beyond. If you would like to discuss this or any other area of investment management or financial planning, then please do not hesitate to get in touch. Most people won't know whether their fund will need to provide for 20, 30 or even 40 years, so ideally your plan should be carefully managed and sufficiently flexible to adapt to your changing circumstances over time. As we saw in 2020, unexpected events can get in the way of the best laid plans and can have a significant impact on one's objectives or outlook on life in general. This often prompts a need for changes to be made to a portfolio or more fundamentally to a retirement and to provide for a comfortable retirement investment strategy. Contact: Despite the well-publicised increase in longevity, most people in the UK retire with a far smaller pension pot than they would tike and take advice far too late. It is therefore vital that you review your pension provision while you are in the accumulation phase to ensure that you have sufficient capital Andy Peacock Partner Smith a Wwlamson Investment Management LLP t: 0148) 407187 e: andrew.peacocksmithandwilliamson.com which, on average, is lasting longer than ever before. Research shows that most people underestimate how long they will tive. Men tend to underestimate their life expectancy by around five years and women by around ten years. According to the Office of National Statistics (ONS) life expectancy calculator, a 65-year-old is the first important step to achleving woman can expect to live to 87, while a man of the same age is expected to Roland Baggott Helping clients to create a retirement plan, and then managing the assets to ensure that goals are achieved in the desired time frame, is at the core of what we do. Having the right structure Associate Director Financial Planning Smith & wwliamson Financial Services Limited t: 0148) 407990 your retirement goals, but making sure that the investments are properly and e roland.baggottesmithandwilliamson.com smithandwilliamson.com By necessity, this briefing can only provide a short overview and it is essential to seek professional advice before applying the contents of this article. This content does not constitute advice nor a recommendation relating to the acquisition or disposal of investments. No responsibility can be taken for any loss arising from action taken or refrained from on the basis of this publication. Details correct at time of writing. Pension advice is provided by Smith & Williamson Financial Services Limited. Capital at risk. The value of investments and the income from them may go down as well as up and investors may not get back the original amount imvested. Past performance is not a guide to future performance. Local offices across the UK, Ireland and Channel Islands. Smith & Williamson Investment Management LLP Authorised and regulated by the Financial Conduct Authority. Smith a williamson Financial Services Limited Authorised and regulated by the Financial Conduct Authority. Smith & wllamson Imvestment Management LLP and Smith & wlliamson Financial Services Limited are part of the Tilney Smith & Wiliamson group. O Tiney Smith a Wamson Limited 2021. Ref: 175320w PROMOTION Smith & U Williamson How much money do you need in retirement? One of the key wealth management considerations when planning for the future is how much money will you need to have for a comfortable retirement. Furthermore, how long will your fund last you? live to 85. The 85+ group is the fastest growing and is set to double to 3.2m expectancy data, but the reality is that by mid-2041 (ONS, 2018), while the number of centenarians living in the one-size fits all approach to planning for UK has increased 85% in the past 15 years (ONS, 2018). Incidentally, one in five millennials will now live to 100, but most only believe they will live to We can make assumptions for expenditure and use average life appropriately managed throughout every stage of life is just as important, There is no simple formula for calculating how much money one needs in order to be able to retire, as there are countless factors that have an impact on the answer. Any of these considerations can and will change over the course of our lives. With these changes our strategy might need to change also, which is why we believe that having an approach that is tailored to the individual's needs, rather than just being picked off the shelf, is the best way to achieve your objectives. everyone is different and there is no the future. The eartier you start to accumulate capital for retirement, and how the investments are managed and subsequently perform, can have a significant impact on the size of your fund. This in turn can impact your level of comfort in retirement. It is therefore age 79. As well as underestimating longevity, people often do not factor in potential capital events that can have an impact on the longevity of their fund. Whether it is funding university costs, paying for a wedding, helping children to get onto the property ladder or having to pay for one's own care in later life - all of these things need to be taken into consideration when creating a robust and well thought out investment strategy. vital to have not only a financial plan, but also an engaged investment management strategy that can take you up to retirement and beyond. If you would like to discuss this or any other area of investment management or financial planning, then please do not hesitate to get in touch. Most people won't know whether their fund will need to provide for 20, 30 or even 40 years, so ideally your plan should be carefully managed and sufficiently flexible to adapt to your changing circumstances over time. As we saw in 2020, unexpected events can get in the way of the best laid plans and can have a significant impact on one's objectives or outlook on life in general. This often prompts a need for changes to be made to a portfolio or more fundamentally to a retirement and to provide for a comfortable retirement investment strategy. Contact: Despite the well-publicised increase in longevity, most people in the UK retire with a far smaller pension pot than they would tike and take advice far too late. It is therefore vital that you review your pension provision while you are in the accumulation phase to ensure that you have sufficient capital Andy Peacock Partner Smith a Wwlamson Investment Management LLP t: 0148) 407187 e: andrew.peacocksmithandwilliamson.com which, on average, is lasting longer than ever before. Research shows that most people underestimate how long they will tive. Men tend to underestimate their life expectancy by around five years and women by around ten years. According to the Office of National Statistics (ONS) life expectancy calculator, a 65-year-old is the first important step to achleving woman can expect to live to 87, while a man of the same age is expected to Roland Baggott Helping clients to create a retirement plan, and then managing the assets to ensure that goals are achieved in the desired time frame, is at the core of what we do. Having the right structure Associate Director Financial Planning Smith & wwliamson Financial Services Limited t: 0148) 407990 your retirement goals, but making sure that the investments are properly and e roland.baggottesmithandwilliamson.com smithandwilliamson.com By necessity, this briefing can only provide a short overview and it is essential to seek professional advice before applying the contents of this article. This content does not constitute advice nor a recommendation relating to the acquisition or disposal of investments. No responsibility can be taken for any loss arising from action taken or refrained from on the basis of this publication. Details correct at time of writing. Pension advice is provided by Smith & Williamson Financial Services Limited. Capital at risk. The value of investments and the income from them may go down as well as up and investors may not get back the original amount imvested. Past performance is not a guide to future performance. Local offices across the UK, Ireland and Channel Islands. Smith & Williamson Investment Management LLP Authorised and regulated by the Financial Conduct Authority. Smith a williamson Financial Services Limited Authorised and regulated by the Financial Conduct Authority. Smith & wllamson Imvestment Management LLP and Smith & wlliamson Financial Services Limited are part of the Tilney Smith & Wiliamson group. O Tiney Smith a Wamson Limited 2021. Ref: 175320w