RETIREMENT

Employed income ceases; make up of expenditure changes; time becomes available; maintenance of spendable income becomes essential.

1. Income may need to be topped up from savings/investments to maintain standard of living. If plans not laid in earlier years, this may be a very uncomfortable period.

2. Inheritance tax planning must take place in earnest, including bringing will up to date.

3. It may be possible/necessary to plan actual retirement date to fit in with savings and investments becoming available. This should have been part of earlier planning.

4. It may be possible to retire in stages rather than make a sudden break.

5. Death of a partner makes replanning a necessity.

6. It may become necessary to move to a smaller house or retirement home which will mean a replanning exercise. Will your long term care planning help?

7. One or both partners may become incapacitated and reliant totally or partly on third party help - a costly exercise.

REMEMBER You should not use any information contained on this page as the basis of any action until you have discussed matters with your financial adviser.