While retirement certainly brings about its share of unknowns, perhaps the most daunting prospect associated with this stage of life is the potential to run out of money. That fear is so widespread, in fact, that 60% of baby boomers are more worried about depleting their nest eggs prematurely than actually dying.

Since pensions freedoms approximately 700,000 people have removed their savings and invested them into some sort of income drawdown product. The complexities of navigating the multiple risks (longevity, interest rate, behavioural, market to name just a few) and doing it tax efficiently make it doubly worrying that a third of that 700,000 invested their funds without seeking advice first.

 

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The value of investments can go down in value as well as up, so you could get back less than you invest. It is, therefore, recommended that you seek full, personal advice in respect of your needs where all appropriate risks will be explained.