Life's Stages

AGE 50 +

Time with the Grandchildren

Those who are fortunate enough to have grandchildren will know what a huge amount of pleasure they can bring; they will also know that it’s great to be able to hand them back to their parents at the end of the day!

You might want to share some of your hobbies with your grandchildren or take them to some of your favourite places; you may also wish to support your children financially as they start families of their own.

Although retirement is generally considered to be a time of reduced expenditure, you may find that your outgoings in the first years of retirement actually increase as a result of the patter of all these tiny feet! Regular meetings with your Financial Planner will help to ensure that your income is sufficient to be able to treat your grandchildren as and when you want to.

AGE 50 +

Opportunities for Travel

You’ve said goodbye to the day-to-day rat race of paid employment. You’ve achieved something many people look forward to their entire adult lives: retirement!

Now is the time to fulfil all those promises you made to yourself during the years at work. Most people carry long-term goals through their career of places they would like to visit when they retire, but not all are financially able to fulfil those goals. Just as you would carefully plan your trip to the Seychelles for example, so you should carefully plan your finances through life and into retirement. Regular meetings with your Financial Planner can help to ensure that you achieve in retirement what you have always promised yourself.

AGE 50 +

Time for your own Interests

Once you’ve positively answered that all-important question, “Am I actually ready to retire?” you can look forward to life as a pensioner: time to relax, travel, spend more time in the garden, get the golf handicap down, volunteer in the local community, or do any number of other activities that you have always been wanting to do. Many of those in retirement talk of being busier than ever with all their new commitments!

The long and happy retirement that many have dreamed of over the years is on average becoming longer…and longer. Do your financial plans cover this eventuality? You also need to consider and plan for other circumstances that may arise, such as long-term care or house modifications as you get older.

AGE 50 +

Retirement

With correct planning, you should be able to look forward to a financially secure retirement.

You should undergo a fresh review of your financial situation in order to establish whether, for example, benefits that came with your employment have now ceased. You should also review your assets to ensure they are providing enough income to meet your goals in retirement.

You should now consider provision for future nursing-home care, and ensure that your will is up-to-date (as you should regularly, from the moment you write it).

AGE 50 +

Injury or Illness

If you are injured or fall ill, how will you support your family and pay for the additional care requirements? With your Financial Planner you can discuss how to provide your family with adequate cover during illness.

AGE 50 +

Passing on your Inheritance

Whether you’ve got millions of pounds or just a set of china and some mementos to leave to your children, you should regularly review what will happen to your possessions after your death. It’s widely believed that in the UK one out of every five people die without leaving a will - don’t be one of them!

Wills are not just for the super-rich; the amount is irrelevant. How much will you leave? Answer, “absolutely everything”, to use a well-known quote! A will ensures that what assets you do have will be distributed in exactly the way you want.

We can help

At Anderson Brown our team of qualified financial planners have years of experience and can help you plan to ensure that you and your family are financially secure now, and in the future.

The Financial Ombudsman Service is available to sort out individual complaints that clients and financial services businesses aren’t able to resolve themselves. To contact the Financial Ombudsman Service please visit The Financial Ombudsman.

Not into forms?

Call us on 01947 600 057 where one of our expert advisers will be happy to answer any of your questions.

Anderson Brown (Whitby) Ltd
Victoria House
7 Victoria Square
Whitby
North Yorkshire
YO21 1EA

01947 600 057 info@anderson-brown.co.uk Get directions