Retirement Planning - Securing Your Future

Retirement¹ Planning - Securing Your Future

 Taking care of your wealth management planning can encompass² many different things; life insurance, medical cover and inheritance tax planning are but a few. However, one of the most important aspects of your financial plans should include retirement planning - after all, you'll rely on this in your later years.

How you manage your retirement planning will depend on various different factors. Firstly, it's safe to say that if you want to have enough disposable income to enjoy your retirement then it's vital that you don't rely on the state pension. Unfortunately, despite this provision that we're given in the UK, it really is only just enough to take care of your main expenditures³, such as your food and utility bills - it won't cover much in the way of treats.

Work and pensions

If you're employed by a medium or large sized organisation⁴, you will probably have the option to have a proportion of your salary taken every month and used as contributions for a work-based pension scheme. Usually your employer will also make a contribution on your behalf, and as with other types of pensions, you will usually get tax relief on these contributions. Even if you have a work based pension scheme, it's still worth considering setting up an additional pension plan if you want to enjoy life to the full once you've retired⁵ though. This is particularly relevant if you want to take an early retirement, rather than working all the way up to the government stated retirement age.

Wealth management planning means considering all angles

It's crucial that you bear in mind that as people live longer and longer, you're likely to need a pension that will support you for perhaps 20 or 30 years. Obviously, if you plan on taking an early retirement, then the amount of time you'll need funds for will increase accordingly. Of course the main thing to think about is the kind of income that you're going to want access to when you're older. Annuity⁶ rates are currently at an all time low, with rates falling due to the economic climate. There is no way that you can pre-empt what will happen when it comes to your time to give up work - so it's best to err⁷ on the side of caution and make plans for the worst case scenario⁸.

As you can see, there's a lot to think about when it comes to retirement planning. There are different types of pensions, and a whole host of things you may want to do with your life after work. The best advice would be to make an appointment with a wealth management planning professional who can talk you through your options and help you do the maths, so that you can save for the old age of your dreams!

1 retirement   

n.退休，退职

参考例句：

• She wanted to enjoy her retirement without being beset by financial worries.她想享受退休生活而不必为金钱担忧。
• I have to put everything away for my retirement.我必须把一切都积蓄起来以便退休后用。

2 encompass   

vt.围绕，包围；包含，包括；完成

参考例句：

• The course will encompass physics,chemistry and biology.课程将包括物理、化学和生物学。
• The project will encompass rural and underdeveloped areas in China.这项工程将覆盖中国的农村和不发达地区。

3 expenditures   

n.花费( expenditure的名词复数 )；使用；（尤指金钱的）支出额；（精力、时间、材料等的）耗费

参考例句：

• We have overspent.We'll have to let up our expenditures next month. 我们已经超支了，下个月一定得节约开支。 来自《简明英汉词典》
• The pension includes an allowance of fifty pounds for traffic expenditures. 年金中包括50镑交通费补贴。 来自《简明英汉词典》

4 organisation   

n.组织，安排，团体，有机休

参考例句：

• The method of his organisation work is worth commending.他的组织工作的方法值得称道。
• His application for membership of the organisation was rejected.他想要加入该组织的申请遭到了拒绝。

5 retired   

adj.隐退的，退休的，退役的

参考例句：

• The old man retired to the country for rest.这位老人下乡休息去了。
• Many retired people take up gardening as a hobby.许多退休的人都以从事园艺为嗜好。

6 annuity   

n.年金；养老金

参考例句：

• The personal contribution ratio is voluntary in the annuity program.企业年金中个人缴费比例是自愿的。
• He lives on his annuity after retirement.他退休后靠退休金维生。

7 err   

vi.犯错误，出差错

参考例句：

• He did not err by a hair's breadth in his calculation.他的计算结果一丝不差。
• The arrows err not from their aim.箭无虚发。

8 scenario   

n.剧本，脚本；概要

参考例句：

• But the birth scenario is not completely accurate.然而分娩脚本并非完全准确的。
• This is a totally different scenario.这是完全不同的剧本。