Retirement planning in Brentwood
Independent retirement planning in Brentwood, Essex, and the surrounding area.
Ask someone what’s in their pension and they can usually give you a rough figure. Ask what income it will pay, or for how long, and very few can say. Without an answer, carrying on working always feels like the safe bet. A proper plan might show you’ve already done enough, and time is the one thing you can’t buy back.
I start by looking at everything you have, from pensions and savings to the State Pension, alongside what you’d like retirement to look like.
By the end, you’ll know the income you can expect, when you can afford to retire, and what to change if the answer isn’t the one you want, so you can stop guessing and get on with living now.
How much do I need to retire?
It starts with the income you’d like, not the size of your pot. Think of it as paying your future self a salary. We start with what you’d like life to look like, from holidays to helping family, and work back from there. The Retirement Living Standards, from the Pensions and Lifetime Savings Association, are a useful guide to what a minimum, moderate and comfortable retirement looks like.
Will my money last in retirement?
I build a cash flow model: a year-by-year picture of money coming in and going out, from now into your nineties. It shows whether your plans hold up, and what happens if markets fall, prices rise faster than expected, or you stop work two years early. Few people have ever seen their finances laid out like this, and it’s often the moment retirement starts to feel real.
Your State Pension
Even if your workplace or personal pensions are much bigger, don’t overlook your State Pension. It plays an important part in any retirement plan: an income for life, paid by the government and increased each year. Think of it as an annuity you’ve been buying with your National Insurance. To buy the same income privately, as an inflation-linked annuity, would cost a six-figure sum.
I’ll check your forecast and when it starts. If there are gaps in your National Insurance record, I’ll tell you whether it’s worth paying to fill them.
When can I take my pension?
Most private pensions can be taken from 55, rising to 57 from April 2028. State Pension age is currently 66 and rising to 67.
How should I take an income in retirement?
Building up your pensions and savings is only half the job. How you take the money out matters just as much, especially when it comes to tax. Workplace pensions, old pots, ISAs, a final salary pension, rental income: I look at how they fit together, which to draw from first, and how to keep tax down year by year. The order you take money out can make a real difference to how long it lasts.
Should I take my tax-free cash?
Usually up to a quarter of your pension can be taken tax-free, all at once or in stages. Whichever you choose, once it’s taken it can’t be undone, so it’s important to get it right. When and how you take it can also affect your tax, including inheritance tax from April 2027. More on inheritance tax planning →
I meet clients in and around Brentwood, Shenfield, Billericay, Upminster and Chelmsford, and anywhere else by video call.
You don’t need any paperwork to start. A recent pension statement helps, but it isn’t essential.
The value of pensions and investments can fall as well as rise, and you may get back less than you put in.