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Retirement Solutions

Planning And Building For Retirement

When planning for your future it is vital to think about saving for your retirement, It may seem a long while off and be put to the back of your head to think about for another day but it is NEVER too early to put these wheels in motion.

The earlier you start to save for you retirement the more comfortable your retirement will be, Retirement planning has evolved rapidly over the years, fewer people have the guaranteed income from final salary pension schemes and we now also have to wait longer until we receive our state pension. Now making sure you have enough money for retirement lies on your shoulders this is where Tweed Financial Services can help with making your dream retirement a reality.

When starting early this could give you the opportunity to retire early, have a comfortable standard of living in your retirement do all the things you have been dreaming off and also none of us knows what the future holds and we need to think of every eventuality and you may need to retire through ill health where the last thing you would want to worry about is whether you can afford to.

Starting early really makes a difference, for example if you say wanted to have £20,000 per year in your retirement at age 67 from your pension, if you were to start saving at age 25 this would cost around £250.00 per month but if you were to wait to 35 before saving towards this goal the monthly cost would rise dramatically to more than £400 per month.

The state pension for people who have the full 35 years of national insurance contributions is £168.60 per week (as at tax year 6th April 2019) which would amount to £8,767.20 per year, it is safe to say that this will not be enough on its own for you to have the same standard of living as before. People may think that you will not need as much when it comes to retirement but you will have more time on your hands to treat yourself to all lives little luxury’s and could even see an increase in utility bills with being around the house more.

Annual allowance is a total amount of contributions that can be paid into your pension scheme or schemes over a year. This is currently capped at £40,000 if you are not already accessing any flexible pension funds.

No matter what age you are it is never too early or late to start paying into your retirement planning and secure yourself a significant and meaningful money this in turn will allow your goals and aspirations become a reality.

Want to learn more about our Retirement Solutions and how we can help you make the most of your money?


Chambers House,
72 High Street, Peebles,
Peeblesshire, EH45 8SW.
Tel/Fax: 01721 721618

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