BURY ST EDMUNDS FINANCIAL ADVICE

Average pension in Bury St Edmunds

Average pension in Bury St Edmunds

If you’re like most Bury St Edmunds residents, you may have been saving into your workplace or personal pension for years. But have you ever wondered if your contributions will be enough?

That's a tricky question for anyone to answer, but we’re here to point you in the right direction. We’ve done some research which shows that locals in the East of England usually:

  • Have an average pension of £130,395
  • Have a life expectancy of 81 years
  • Should expect a pension shortfall of £17,366

The figures above can be a handy benchmark of what to aim for as you calculate what your projected pension pot will look like. Of course, no two retirements are the same and you’ll need to decide what lifestyle you’d like to achieve.

If you’re still unsure of what’s enough for your ideal retirement, speak to a financial advisor. We work with many financial advisors in Bury St Edmunds and can help you connect to expert advice.

Learn how a personal pension could help you save for the future in our personal pensions guide.

Property market in Bury St Edmunds

It always pays to plan ahead especially when it comes to your retirement. The pension contributions you make today will help, but have you considered other ways to supplement your retirement income? If you’re a homeowner in Bury St Edmunds, you have many options to consider.

Our lifestyles change as we get older. The semi-detached family home you’re living in now might tick all the right boxes. Yet, its size might feel like a burden to maintain in 20 or 30 years. Renovating your home could help make it future proof if you don’t want to move. Many homeowners use equity release as a way to free up cash for home improvements. But if you fancy a fresh start, you could also consider downsizing your home or moving to a quiet country village.

According to Rightmove data, the average sold house price in Bury St Edmunds is £342,334 and this figure is up 11% from the previous year. As more people look to buy in the area, it could be a good time to discuss your home’s value with an advisor.

Where do people in Bury St Edmunds retire to?

Financial advice in Bury St Edmunds

Bury St Edmunds

With its rich history, friendly locals and scenic views, it’s no wonder that many choose to retire here. There’s something for all tastes. Take a trip to Brandon Country Park's famous arboretum and walled garden, or watch the world go by in the town’s many cafes. You'll also have plenty of events to look forward to such as the Science Fiction and Action Festival in October, or the LeeStock music festival. Visit the West Suffolk Council website for the latest events and more.

Financial advice in Great Yarmouth

Great Yarmouth

If you dream of a retirement that feels more like a holiday, you’ll feel right at home in Great Yarmouth. For starters, you can explore 15 miles of glorious sandy beaches. There's also plenty of amusements and family-friendly activities to keep the grandkids entertained. History buffs will also not want to miss the Burgh Castle Roman fort or the Greyfriars’ Cloisters.
Financial advice in Ipswich

Ipswich

Surrounded by not one, but two Areas of Outstanding Natural Beauty, Ipswich is a nature lover’s dream. Head to the shore and spend the afternoon in a beach hut. Foodies can also indulge in cuisines ranging from Japanese to Moroccan. You’ll also find many opportunities to support your local community at Ipswich Market, which offers over 30 stalls selling plants, crafts, street food and much more.

Why getting financial advice is important

Rainy days have an annoying habit of creeping up on us. Sudden illness or a broken boiler can spell disaster for your savings and financial goals. That’s where thinking ahead can pay off. If you’re keen to make the most of your hard-earned money, working with a financial consultant or advisor in Bury St Edmunds can help.

An advisor has the financial expertise to help you make your money work harder, by supporting you to:

  • Take advantage of tax relief
  • Make informed decisions on your investments
  • Build a solid plan to achieve your short, medium and long-term goals
  • Avoid financial pitfalls and plan for rainy days
We can help you take the first step towards financial advice if you think working with an expert could benefit you. The advisor partners we work with have decades of knowledge and we can match you with the most qualified expert for your needs in seconds. Tell us the type of advice you need and your contact details, and we’ll do the rest!

Our service

Local Financial Advice’s free advisor matching service connects people all over the UK daily with FCA-regulated experts. Wherever you’re based in Bury St Edmunds, we’ll match you with the financial advice expert that’s right for you.

So whether you are looking for advice on your retirement plans, investments, wealth management, financial planning or thinking about your long-term financial future, we can help put you in contact with a trusted financial advisor who will listen to your needs.

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.

Click to Find a Financial Advisor in Bury St Edmunds

FREQUENTLY ASKED QUESTIONS

Do I Need a financial advisor Do I need a financial advisor

Do I need a financial advisor?

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

How much does an advisor cost How much does an advisor cost

How much does an advisor cost?

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.

How can I speak with my advisor? How can I speak with my advisor?

How can I speak with my advisor?

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.

Our Service Our Service

Is the advice one-off or ongoing?

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.