You’re retiring from work. But what are you retiring to?
When thinking about your next stage of life, the conversations around retirement planning might focus on what you will be giving up and how you will compensate for it.
However, we believe there may be a more interesting question to ask: “What do you want to do next?”
We build your retirement plan around the lifestyle you want to live without resorting to arbitrary figures or age limits.
Retirement income planning for every stage.
From supporting your post-work lifestyle to planning how you will pass on your wealth, we consider how your pensions, savings, investments and inheritance plans can work together throughout your retirement.
Maximising your retirement fund
With extensive knowledge of all types of pensions, we can help you cut through the jargon, build your retirement funds and create a plan for moving into retirement.
Easing your shift to retirement
With withdrawal options and potential tax benefits to consider, we help you weigh up the pros and cons so that you move into retirement with confidence.
Reviews and tax implications
Lifelong income security should not be taken for granted. Once you retire, we periodically review your setup, including how tax may affect what you pass on.
What you can expect from your retirement plan.
A clearer picture of life after work
We bring meaning to the numbers by connecting your retirement funds with the life you want to lead. Through cashflow modelling, we help you explore how choices about when you retire and what you spend could affect your financial future.
Practical steps to address any gaps
The planning phase may highlight a need to save more, spend differently or adjust your timings to reach key financial milestones. Your retirement planner will be transparent about the gaps in your plan and suggest ways to address them.
A greater shared understanding
By providing an open environment and extensive expertise, we can help you and the people involved in your retirement plans gain a better understanding of what comes next.
A joined-up view of your pensions
If you have pension pots from various workplaces or you are trying to track down a “lost” retirement fund, we can help you locate them and explore whether bringing them together would suit your needs.
“Retirement is about so much more than finishing work. It's the beginning of a new stage in your life, with the freedom to spend your time doing what matters most to you. Good financial planning helps turn the retirement you've imagined into a future you can look forward to with confidence.”
Andrew McRae
Chartered Financial Planner
Retiring earlier than expected.
How financial planning helped James and Claire retire five years sooner than they thought possible.
When James and Claire first approached Acumen Financial Planning, they were in their mid-50s and facing some important decisions about their future.
James had recently been made redundant after 28 years with his employer. Although he had found another job, he wasn't enjoying it and believed he would need to continue working for at least another five years before he could afford to retire.
Claire worked part-time and had recently inherited £100,000 following her mother's death. The couple were unsure how best to use this money, particularly with an outstanding mortgage, home improvements and family commitments to consider.
Above all, they wanted to know whether they could afford to stop working and enjoy more time together.
Our financial planning team worked closely with James and Claire to understand their circumstances, priorities and aspirations.
We developed a detailed lifetime cash flow plan, considering their pensions, savings, investments, future expenditure and potential financial risks.
By exploring different scenarios, including changes in inflation, investment performance and unexpected costs, we helped them understand what their financial future could look like and whether early retirement was achievable.
The outcome
Just three months after their first meeting with Acumen, James and Claire both retired, at least five years earlier than they had originally expected.
With a clear financial plan in place, they felt confident they could enjoy the lifestyle they wanted without the need to continue working.
Over the years, their financial plan has continued to evolve alongside their circumstances, with discussions now including ways to support their grandchildren and plan for the next generation.
For James and Claire, financial planning wasn't simply about managing their money. It was about having the confidence to make the most of their time together.
What clients say.
Gained a clear long-term financial view.
“I was referred to by my previous adviser who had personal experience with Acumen’s work. I needed guidance as we transitioned into retirement. My planner has been invaluable in helping us achieve a stable income to supplement our pensions. We’ve gained a clear long-term financial view and seen results beyond what we expected.”
Philip
A client of David Gow
Our promise to you.
Acumen Financial Planning is authorised and regulated by the Financial Conduct Authority (“FCA”) as financial planners.
As an independent financial planning firm, we provide unbiased and unrestricted advice on investments and financial products, based on a fair and comprehensive analysis of the whole market.
We are clear about our fees from the outset, so you know what you will pay and what is included. Our fees reflect the expertise, time and ongoing support we provide. They also enable us to invest in our team and build a sustainable business, so we can continue supporting you for the long term.
Retirement Planning FAQs.
Find answers to some of our most frequently asked questions. If you can't find what you're looking for, our team is here to help. Simply get in touch and we'll be happy to answer your questions.
Can you help if I have already retired?
In building a retirement plan, the aim is to have lifelong financial security. However, we understand that circumstances can change or there may be a new element in your financial life that you have not previously discussed with a financial planner. If you would like to review your plans, get in touch.
Can my partner and/or loved ones attend our retirement planning meetings?
Creating an inclusive and transparent environment can be really powerful when it comes to planning for retirement. If you would like someone to join you, please let us know beforehand so we can discuss who you would like to bring and keep the meeting focused on your wishes and priorities.
Can you provide pension transfer advice?
Acumen Financial Planning Ltd holds permission to advise on pension transfers and has a comprehensive procedure for doing so. Due to the specialised nature of pension transfers, there are several additional requirements from our planning team when considering giving advice in this area. Acumen Financial Planning will not market or pursue business in this area, nor will we initiate discussions surrounding the transfer of a defined benefit scheme unless you ask us to.
How do I know whether I can afford to retire?
Retirement Living Standards can be a good place to start for finding out what the average individual or couple typically needs to retire and live their ideal retirement lifestyle. However, these scenarios will usually not map exactly onto the life you want to live. By modelling different scenarios around your goals and resources, we help you understand what may be affordable and where adjustments might be needed.
When should I start planning for retirement?
Five to 10 years prior to retirement should be a key time for ramping up your retirement planning. At this stage, you may have a better idea of the type of life you would like to live once you step away from work, as well as your personal circumstances. However, it is never too early to start becoming more aware of your options, so we are happy to consult with clients regardless of how far along they are in their careers.
