Average pension in Newcastle

Average pension in Newcastle

Trying to predict how much money you’ll need when you’re retired doesn’t have to be stressful. We’re here to point you in the right direction with a little research.

We’ve found that on average, people in Newcastle usually:

  • Have an average pension of £126,630
  • Have a life expectancy of 78 years
  • Should expect a pension shortfall of £18,772

Our findings should give you a good idea of what to aim for when it comes to your contributions. Whether you’re feeling confident or anxious that your savings might not cut it, it can be beneficial to speak to an expert about your retirement options.

Personalised advice could help you gain a better understanding of your financial standing. We’ll help you get the support you need by connecting you with a qualified advisor in Newcastle. They’ll help you explore your income options and take advantage of tax-efficient ways to save for retirement and other goals.

Property market in Newcastle

When it comes to retirement income, many people think it comes down to their pension pot and the State Pension. But if you’re a Newcastle homeowner, you might be sitting on extra cash - and we don’t mean the spare change under your sofa cushions.

Living in a family home has its benefits and that extra bedroom could turn into more income if you’re willing to open your home to a lodger. If your home is too costly to maintain after the kids have left the nest, you could consider downsizing or even relocating to a cheaper city or town.

Rightmove data reveals that the average house price in Newcastle is £233,147. This price is up 9% from the previous year. With more people looking to get on the property ladder this might be a good time to discuss the role your home could play in your future retirement income.

Where do people in Newcastle retire to?

Financial advice in Tynemouth, Newcastle


Voted as the best place to live in the North by The Times in 2019, this seaside town is a favourite destination for families and retirees alike. Longsands beach is perfect for relaxing and watersports. While Tynemouth Aquarium makes for a great afternoon out with the family. And if you’re a foodie, you won’t want to miss the annual Tynemouth Food Festival.

Financial advice in Jesmond, Newcastle


If you have no intention of slowing down in retirement, you’ll love buzzing Jesmond. This leafy Newcastle suburb is the city’s most fashionable and affluent district and attracts everyone from young professionals to retirees. It boasts some of the best restaurants and bars around. And if cafe culture and boutique shopping is more your style, venture to trendy Brentwood Avenue.
Financial advice in Fenham, Newcastle


Charming Fenham is perfect for retirees seeking a more affordable, quiet lifestyle. While it’s not as posh as Jesmond, it doesn’t compromise on local amenities. You'll have everything you need such as local shops, cafes and a high street. It also has a very diverse population, which means it's a prime spot for adventurous eaters looking to explore global flavours.

Why getting pension advice is important

Advanced healthcare and technology means Brits are living longer than ever before. That’s why it’s important to ensure that your projected retirement savings will help you afford your chosen lifestyle and not let financial hiccups derail your plans.

Speaking to a financial advisor in Newcastle can be a wise investment for your future. Like a fitness coach, they’ll motivate you to achieve your financial goals and help you build a plan to get where you want to be. Most importantly, they’ll help you ensure you stay on track.

We help take the stress and guesswork out of searching for an ideal advisor. Our process takes only seconds to complete. Tell us what type of advice you need and a little about you and we’ll match you with a regulated advisor and book your free consultation.

Start working towards a brighter future. Click on the link below to match with your local advisor now.

Click to Find a Financial Advisor in Newcastle


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.