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Retirement planning is a particularly important kind of financial planning.
Whenever you decide to retire, perhaps in your 50s or when you reach the age of 60 or 65, increased longevity means that a couple may have to sustain the lifestyle of their choice for up to 20 or 30 years or more. It is therefore vital to ensure not only that there are the funds to support retirement but also that they will not run out too soon.
This means taking into account such occupational and personal pensions that may be available, and seeking to maximise pension benefits wherever possible for example by securing the best pension offers available on the open market.
It also means designing suitable investment portfolios to generate maximum returns, consistent with individual attitudes to investment risk, to counter the threat of erosion through inflation of capital values and purchasing power of income.
Careful review of financial assets can therefore provide in advance an indication of the resources that might be available at and through retirement, and this in turn can be an important influence in establishing and clarifying retirement objectives.
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Anthony Harding & Partners Limited is authorised and regulated by the Financial Services Authority (http://www.fsa.gov.uk/register/home.do). FSA Registration No: 135348