LEEDS FINANCIAL ADVICE

leeds financial advice

Average pension in Leeds

Living in Leeds and planning your retirement? You may wonder just how far your money will go. Don't worry, we've done the legwork for you.

Based on statistics from our own customers and a little bit of government research, we can estimate how long you need your pension to support you.

On average, people in Leeds:

  • Have an average pension of £118,000
  • Have a life expectancy of 79 years
  • Should expect a pension shortfall of £27,723

Why should they expect a shortfall? Well, although the cost of living is less in the North of England than it is in the South, workers in Yorkshire have some of the lowest annual earnings in the UK. Full-time employees in Yorkshire earned roughly £28,700 a year in 2020, a far cry from the £41,000 of London and less than areas such as the South East and our neighbours up in Scotland.

This shows the importance of getting financial advice when planning your retirement. You've worked your whole career to build up your pension and have the retirement you deserve. Finding a financial advisor in Leeds and discussing your goals for retirement is the first step towards achieving them.

Property market in Leeds

Many people don't realise how important of a role their home can play in their retirement. You could downsize into a smaller property and use the money to support your pension. Alternatively, you could release equity from your home to help pay for that new kitchen or garden you've always dreamt about.

The average home in Yorkshire costs £194,518 and increased in value by 15.8% compared to 2020. When discussing your goals with your financial advisor, always consider if utilising your property could make things easier.

Where do people in Leeds retire to?

Financial advice in Horsforth, Leeds

Horsforth

Horsforth has long been a favourite of Leeds retirees and it's easy to see why. Local restaurants range from tapas bars to gastro pubs and authentic Italian restaurants. Sandstone houses give the area a distinctly traditional style and Horsforth Hall Park is home to a luscious Japanese Garden.

Financial advice in Chapel Allerton, Leeds

Chapel Allerton

Few places in Leeds beat the 'Notting Hill of the North' when it comes to retirement hotspots. Regular markets and live music mean Chapel Allerton has become a favourite of young professionals, new families, and recent retirees alike.
Financial advice in Bramhope, Leeds

Bramhope

Home to just a little over 3,500 people, Bramhope is the hope of the gorgeous Golden Acre Park. It's full of local charm but we think the biggest draw is The Fox and Hounds pub, which has been the heart of the community since it was established all the way back in 1728.

Why pension advice is important

We understand that discussing your financial situation with someone else can be tough. You’ve been financially independent for your entire adult life, why should you get financial advice now?

The unfortunate truth is that many people, despite paying into their pension for years while they work, don’t know how to approach planning their retirement. And without knowing how you want to spend your time, you can’t plan how much money you’ll need to ensure you’re supported.

A financial planner can help you establish your goals for retirement. Then they can discuss what you should do to achieve them without breaking the bank. You set the destination and they’ll help you plan how to get there using different financial products.

Click to Find a Financial Advisor in Leeds

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.