Retirement Planning & Pensions
Retirement isn’t just a milestone you reach—it’s about crafting the freedom to live life on your terms. At Lucent, we are here to help you plan the retirement you deserve with smart strategies for pensions and more.
How We Help People Who Require Retirement Planning Advice
Whether your dream is to travel the world, pick up that hobby you never had time for, or simply enjoy more moments with family, a well-thought-out retirement plan is essential. At Lucent, we believe retirement planning is more than just numbers on a page. It’s about securing your future, ensuring your income needs are met, and supporting the lifestyle you’ve always envisioned.
Our retirement and pension advice are both part of a comprehensive financial strategy designed to help you retire in style.
Note: A pension is a long-term investment not normally accessible until 55 (57 from April 2028). The value of your investments (and any income from them) can go down as well as up, which would have an impact on the level of pension benefits available.
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What’s Standing in Your Way?
If you’re nearing retirement or just starting to think about it, you might be feeling a little lost in the maze of pensions and income planning. Maybe you’re unsure how much you’ll need to maintain your current lifestyle, or perhaps you’ve got multiple pension pots scattered around and aren’t sure how to make them work for you.
It’s not just individuals who face challenges—business owners often find themselves stuck between planning for their own exit and making sure their business provides a steady retirement income. These aren’t small concerns, but with the right guidance, they’re totally solvable.
- Is my current savings pot enough to live comfortably?
- How can I consolidate my pensions for better growth and efficiency?
- Am I missing out on tax-efficient ways to withdraw from my pension?
- How do I exit my business and turn it into a solid income stream?
- How can I align my personal and business finances to make my retirement tax-efficient?
- What’s the best way to sell or pass on my business to secure my financial future?
What Happens if YouDon’t Take Action?
The risks of leaving these questions unanswered are big.
Without a clear retirement plan, you could find yourself running out of savings too early, or worse, making lifestyle sacrifices when you should be enjoying your golden years.
For Families and Individuals
Failing to optimise pension withdrawals could lead to handing over more money in taxes than necessary, reducing the amount you have to truly enjoy your retirement. And if you’ve got multiple pension pots lying around, you might miss out on growth opportunities or lose track of your funds altogether.
For Business Owners
Business owners face similar hurdles. Without a well-thought-out exit strategy, you could end up relying on unpredictable income, making retirement far more stressful than it should be. Plus, selling or passing on your business without a solid plan can leave you with unnecessary financial burdens and a bigger tax bill than expected.
The Smart Approach to Retirement Planning
At Lucent, we don’t treat retirement planning as a standalone service—it’s a key piece of the entire financial puzzle. We integrate retirement and pension strategies into every part of your financial plan to ensure you have a secure path to financial independence.
For Individuals and Families:
- Life Goals: We start by helping you define realistic retirement goals based on your lifestyle aspirations and income needs.
- Pensions: We look at your existing pensions, consolidating where it makes sense and optimising for maximum growth.
- Tax: We’re all about tax efficiency, so we’ll guide you on the best ways to withdraw your money without giving away too much to HMRC.
- What-If Scenarios: Through lifetime cashflow modelling, we can project what your retirement will look like financially, giving you peace of mind about the years ahead.
For Business Owners:
You get the full package too! We work with you to create a seamless exit strategy, whether that means selling the business or passing it down to family. Your business and personal finances will be aligned to ensure tax-efficient savings, and we’ll develop an investment strategy that provides sustainable income well into your retirement.
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Why Proper Retirement Planning is a Must
Let’s face it—retirement isn’t something you want to wing. Without a proper plan in place, you’re gambling with your financial future. A detailed retirement plan makes sure you have enough income to last, no matter how long your retirement lasts.
Smart pension management ensures that your savings grow steadily and efficiently until you’re ready to dip into them. Plus, we help you plan for the unexpected. From healthcare costs to long-term care, we’ve got you covered so that nothing catches you off guard.
The Lucent Approach to Common Retirement Challenges
Not sure how much you need to retire?
That’s okay. Many of our clients come to us with similar concerns—whether it’s figuring out their exact needs or managing multiple pension pots. And for business owners, we know that planning an exit strategy can be complicated, especially when it needs to align with personal retirement goals. That’s why we’re here to help, every step of the way.
Ready to plan the retirement of your dreams?
Don’t leave your retirement to chance. With Lucent’s expert guidance, we’ll help you create a retirement plan that works for you—whether you’re just starting out or nearing the finish line.
- Are you planning for a retirement lifestyle that meets your aspirations and financial needs?
- Do you need help structuring your pension and other assets to provide income in retirement?
- Are you concerned about ensuring your wealth lasts throughout your retirement years?
- Would you like advice on transitioning from working income to investment and pension income?
If you answer yes to the above, get in touch.
FAQs
Effective retirement planning is crucial for achieving the lifestyle you’ve spent decades working for. But without proper planning, your savings may fall short, leaving you financially vulnerable and potentially jeopardising your desired retirement. Taking proactive steps now ensures financial security and a comfortable future.
It’s never too early! The sooner you start, the more time your pensions and investments have to grow.
Retirement planning is part of your overall financial strategy, making sure investments, tax planning, and inheritance strategies are aligned to support you during retirement.
If you're married and leaving your home to you children, then estates in excess of £1million could do with additional planning. If single, then anything over £325,000 could suffer inheritance tax.
When it comes to planning your retirement, a financial planner helps estimate your future income needs, set savings goals, and choose suitable pensions. They can help maximise contributions, leverage employer pensions, and optimise income from other investments. They also monitor your retirement plan to keep it aligned with your goals and adapt to changes.
Pension provision has evolved significantly over the last few decades, potentially leaving you with outdated and costly pension plans. Our financial planning experts can highlight the benefits of transferring your pensions into newer, more flexible, and cost-effective arrangements, allowing your retirement funds to achieve greater growth and efficiency.
Absolutely. We’ll help you consolidate and optimise your pensions to ensure they’re all working together for your retirement goals.
Planning for retirement is a one-time opportunity for most of us, and it’s neither simple nor easy. An independent financial planner specialising in pensions can provide invaluable assistance in several ways.
If you don't give us all the information, you’ll get a plan with holes in it. We need that information understand the extent of the problem, when we know that, we can plan effectively.
Approximate guesses are fine. Numbers change daily anyway, so a rough idea is fine.
They may have differing opinions to yours and so it is vital you are both aware of them and joined up on this matter.
It depends on what has been put in place! The time we have left is reducing every day, so chop chop!
Preferably, but we are also available on video call
Still have questions?
If you've got a question we haven't answered, we'd love to hear from you.