Retirement Planning

Approaching retirement will be a new experience for you. Fortunately, at Altermann Fuller Ltd, we have been down this path many times, having steered hundreds of people to a confident and comfortable retirement.

As everyone knows, the earlier you start planning for the day you finish work, the better. There are many options available to increase the nest egg you rely on for the rest of your life, some with excellent tax advantages. As well as the financial implications, retirement brings a whole new way of living. Gone are the structured days of going to the office in the morning, enduring the commute, and then doing it again five, six, or even seven days a week. You will have time on your hands, and deciding what you will do to keep yourself occupied can be a catalyst to living a happy and rewarding retirement, finances permitting.

Preparation

By working together to identify and prioritize what you want out of your retirement, we can develop a plan to help you get there. By liaising with your external advisors, such as your attorneys and tax advisor, we ensure the flawless execution of your plan.

A slower pace of life

We can offer guidance on the experiences some of our other clients have been through during this phase in their lives and possibly help you find a new passion if you don't have something already to fill the void left by not going to work anymore. Some people even choose to take part-time or voluntary work to fill the newfound free time. Whatever you choose, it should be something that benefits you mentally and is good for your health.

Partial Retirement

Some prefer to ease their way into retirement, perhaps reducing their weekly hours or the number of days they work each week. This means there will still be an income coming in, albeit reduced, but also increases the amount of available free time to devote to doing the activities you enjoy and spending time with those you care about the most. Partially retiring also needs careful planning before the decision is made to cut back your hours. Still, it can be the first step towards your new lifestyle without the sudden shock to the system that sometimes comes with simply stopping work one day and wondering what you will do next.

Altermann Fuller Ltd advisors can review your financial position and offer advice on how retirement will affect your future life.

Full retirement

After all those years of clocking in to work comes to an end, you want to know you have the future covered and don't need to worry financially, even if the unexpected happens.

Dreams of world travel, playing golf all day or doing whatever your heart desires can become a reality with planning and preparation. For most people, though, retirement is a time of cutting back, merely trying to live on a meager pension or being afraid to spend savings in case there are unforeseen expenses such as medical bills to pay.

However you envision your retirement, and however financially comfortable you are, careful planning ensures you get the most out of your days in retirement. After all, you have worked hard for it!

Retirement Property

A house in the country, an apartment on the beach, or maybe somewhere nearer to your grandchildren, when you are approaching retirement is an excellent time to consider where you want to spend your remaining days. Altermann Fuller Ltd advisors can help you categorize your expenditure and make recommendations to keep your spending in line with your longer-term goals. This way, you understand how much you can reasonably spend without putting your long-term financial security at risk.

Pensions

Some people have work-related pensions, and some do not and must rely on the state. If you have a work pension, there may well be the option to choose when you start taking it. If you don't need it immediately, deferring the start time can increase the income you receive when you do eventually begin taking it. Either way, factors such as these need to be sorted out well before the retirement date, or you may find yourself paying unnecessary taxes or not receiving the full advantages that your pension offers.

Medical care

Did your medical cover cease when you retired? Do you have enough cover now as the years are passing by? Do you need to take extra insurance to ensure you are covered for the ailments that come in later years? Everyone falls ill at some time in their life, and making sure you have adequate cover means you can relax in your retirement, knowing that your savings will not be wiped out by illness.