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LONDON FINANCIAL ADVICE

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Average pension in London

There’s no way to predict how much you need to save for retirement. But, we can help.

We’ve done the hard work for you and found that Londoners usually:

  • Have an average pension of £129,878
  • Have a life expectancy of 81 years
  • Should expect a pension shortfall of £19,856

Your pension contributions can help you afford the necessities of retirement. But will they be enough to afford the lifestyle you truly want? Budgeting can help you afford your ideal lifestyle - if you know what to aim for.

We’ve helped countless people answer this question by connecting them with a financial advisor in London. Getting support from a financial advisor can help you get the knowledge and insight you need to build a secure and fulfilling retirement.

Property market in London

Financing your ideal retirement doesn’t always mean dipping into your pension pot. Many people find other sources of income such as their homes. Releasing cash via equity release and downsizing are popular options that can help give your income a boost.

The average house price in London is £500,300 according to Statista, and has increased 3.6% since 2020. It may be a small increase, but has the potential to grow - along with your pension income if you have an expert on your side.

Your advisor will help you consider all potential sources of income. If you’re a homeowner, your biggest asset might be right under your nose.

Where do people in London retire to?

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Winchmore Hill

This leafy suburb can be found in the borough of Enfield and was voted as one of the best places to live in 2021 by The Sunday Times. Tranquil parks and charming Edwardian streets give it a village feel yet it still retains all the perks of the city. Boutiques, indie cafes, pubs and parks offer endless opportunities to unwind, get social or engage in retail therapy.

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Muswell Hill

It’s not only retirees that flock to Muswell Hill to escape the hustle and bustle of the city. It’s a firm favourite of families, who add to its warm community feel. There’s plenty to do in Muswell. Sate your appetite at Fortismere Food Market or spend the day out at the Sunshine Garden Centre, which was built on the site of a former Olympic sized swimming pool.
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Teddington

If your idea of retirement bliss is escaping to a quiet village, you’ll love Teddington. The village lies on the River Thames. Spot wild deer in Bushy Park, explore Strawberry Hill House’s gardens or while away an afternoon in the Alexander Pope pub with friends. And for the ultimate comfort, head over to Ruben’s Bakehouse for fresh sourdough bread, pizza and pastries.

Why it's important to get pension advice now

After years of working, you deserve to enjoy a retirement that’s stress-free and fulfilling. Most of all, you deserve the peace of mind that the money you’ve saved is enough to afford a comfortable retirement. But how do you know if you’ve saved enough?

This is a question that everyone asks themselves when they start planning their retirement. It can be daunting to face this challenge head-on when you’re coming to retirement age, but you don’t have to do it alone.

Financial planning empowers people to tackle their most complex money matters and achieve their goals. So, whether you dream of that bathroom renovation or want to futureproof your home, a free consultation with a pension expert can help you get there.

With one click, we can help you connect with a local financial advisor. What are you waiting for? Meet your expert and enjoy a free consultation today.

Click to Find a Financial Advisor in London

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.

Photo credits: Tower Bridge, Kynance Mews, Winchmore Hill, Muswell Hill, Teddington