Thinking about financing your retirement might not feel like a priority right now. But a little preparation today can help you plan for the future.
We’ve crunched the numbers so you don’t have to and found that on average, people in the North West tend to:
These figures can help you understand what to aim for as you consider your current pension pot. But to get a more accurate estimate of how much you’ll need, you’ll need to think about what type of retirement you’d like.
That’s where financial advice can help. Working with an advisor can help you understand your goals in retirement - and they’ll help you form a solid plan to achieve them. Our friendly service helps you take the first step, by matching you with a Bolton-based expert near you.
How you spend your free time when you retire is a nice problem to have. But have you ever considered where you’ll live? Once the kids move out your family home may start to feel cavernous and too costly to manage. This is why many retired homeowners choose to downsize.
Future proofing your home is another option, and costly home renovation could reduce your pension pot if you’re not careful. That’s why many people choose equity release to free up cash - and it could be an option if you’re aged 55 or older.
The average house price in Bolton is £198,493, according to Rightmove data. This figure is up 12% from the previous year and could rise as more people aim to get on the property ladder. With this in mind, it may be a good idea to speak to a financial advisor about the value of your home and financing your retirement goals.
The city of Salford has evolved from a textile powerhouse to an innovative business centre. It’s also a prime spot for culture and is ideal for retirees that want to keep their fingers on the pulse and explore the world, one dish at a time. The Quays also offers a host of amenities such as The Lowry arts centre, a cinema and a shopping mall.
With Horwich, you can have it all in retirement. Excellent connections mean you’re minutes from the UK’s largest retail and leisure park, The Middlebrook. Those looking for adventure also can’t go wrong with a walk or cycle around Rivington Pike, which is part of the West Pennine Moors. You’ll be spoilt for choice with your pick of pubs, bars and restaurants in the town centre for a night out or catch-ups with friends.
When was the last time you talked about money? It’s not the easiest subject to talk about - and even harder to face when you’re faced with tough financial decisions. A chat with a financial advisor could help you take advantage of tax relief and make your savings and investments go further.
Not sure where to start with advice? That’s why we’re here. Our service makes connecting to a financial advisor as simple and straightforward as possible. Filling out our form takes seconds and helps us understand what type of advice you’re looking for. We then use this information to connect you with an expert with the right qualifications to suit your needs.
Your expert will then invite you to a free consultation. This session is a chance for you to get to know your advisor and decide whether financial advice could work for you. You may not need financial advice, but your expert will offer helpful guidance to point you in the right direction.
Learn more about how we help you connect to local financial advice experts, how our free advisor matching service works and why over 900 happy customers rated us Excellent on Trustpilot.
A financial advisor can offer valuable insight and expertise on a wide range of common financial concerns.
Key situations in which a financial advisor is likely to be valuable include:
Exploring your options during key life events such as retirement
Comparing quotes for pensions or insurance products
Investing large sums of money
Inheritance tax planning and intelligent saving
The cost of using a financial advisor can vary depending on your needs. You may be able to resolve your issues in a single consultation, or you may benefit from a more long-term collaboration.
At Local Financial Advice we're dedicated to providing a transparent and cost-effective experience for all customers:
Free, no-obligation initial consultation - Discuss your issues in detail and make a decision about whether you’d like to proceed before making any commitment.
Total transparency - Any costs associated with purchasing any product or service from your financial advisor will be broken down in detail.
Many of the advisors we work with are flexible with how they can meet with you.
Your advisor will often try to first get in touch with you by phone to talk about the kind of advice you need.
If you decide to continue with their advice, advisors can meet you face-to-face. You can discuss any safety precautions the advisor should take if you arrange for them to visit your home.
Throughout your time speaking with your advisor, you may receive emails from them. These will often simply be to confirm your information or the details of future meetings you book with them.
The type of advice you need depends on your circumstances.
We encourage everyone we connect with an advisor to discuss their financial needs in detail so they can receive the right amount of advice.
You may only need one-off advice if you need help choosing a long-term product to support your retirement, such as an annuity.
If you need flexibility with your money, you may prefer ongoing advice from your advisor with you speaking every six months or year to see how your money is performing.
Whatever help you need, your advisor will clearly lay out the costs involved. These can be one-off costs or recurring, such as a fund management fee.