Even if you’re in your thirties, there’s not really a time that’s considered ‘too early’ when it comes to planning retirement. Of course, getting older is the last thing you want to think about after hitting the big 3-0. However, it might just reward you more than you think.
If you want to live comfortably in retirement (and avoid the mistakes of many before you), we highly recommend hiring a pension adviser in Coventry. Here are just some of the benefits of taking this very step!
First and foremost, a Coventry pension adviser, such as the fantastic team at Godiva Wealth Management, has extensive experience in the industry. With this, they know exactly what you should be doing with your pension and when you should be doing it. Furthermore, they’re aware of the most common mistakes (and how to avoid them!).
“I thoroughly recommend Godiva Wealth Management if your searching for an experienced and qualified financial adviser local to you”. – Neil A
In our experience, people ignore everything related to retirement and pensions because they don’t want to be dealing with all the hassle that comes with it. We understand, it’s easier just to say ‘I’ll try again next year’ than spend hours researching different avenues and how to save for retirement.
However, millions of people had exactly the same attitude many years ago and now they’re struggling to make ends meet…this leads nicely onto the next benefit of hiring a pension adviser in Coventry.
In recent years, the concern over pensions has only grown. In 2018, Caroline Abrahams from Age UK said that there were nearly two million older people struggling to survive in retirement. In fact, she said they were ‘living in poverty’. With most pensions paying between £7,000 and £8,000 each year, this isn’t hard to understand.
Although owning your own home can certainly help, living off the state pension alone will be tough. To really survive and ensure an end to all the stress when you walk out of the workplace for the last time, Coventry pension advisers will tell you to start saving now. If you can supplement the state pension and put some money away, life will be much easier (and you can enjoy all those holidays you’ve planned!).
Next, your financial needs will change, and a pension adviser in Coventry will know how to deal with this. For example, you might have children, get married, have a child go to university, buy a house, etc. With experience by your side, you can get guidance through all of these changes and still save towards your pension.
Finally, what happens when the pension regulations change? What about if the laws on taxation are adjusted? Normally, you will be left to fend for yourself and a small mistake leads to a severe financial penalty. Fortunately, you don’t have to worry about such things when working with a pension adviser. Instead, you can focus on the things that really matter in life…like spending time with family.