At Milestone Advisory, we recently had the opportunity to meet with the staff of a newly established pension scheme. Darragh Hogan explained that as part of our commitment to ensuring that employees make the most of their pension benefits, we provided a staff address followed by individual ‘retirement planning’ advice discussions for each staff member.
One employee posed an important question: ‘I am already in the pension scheme, so why do I need a retirement planning discussion?’
A great question!
Being part of your employer-sponsored pension scheme or setting up a personal retirement account is an essential first step in planning for your retirement. However, with the guidance of a knowledgeable financial advisor, you can maximize the potential of your retirement strategy and tailor it to meet your specific needs.
Some things to consider when planning:
Are my pension contributions invested in the fund that most suits my needs? When do I plan to retire? Will the projected figures based on my current savings be sufficient to support my preferred retirement lifestyle? Depending on your individual circumstances and age, the level of detail in your plan may vary, but the assistance of a financial advisor can provide invaluable insights.
Recent research conducted by Brokers Ireland revealed that individuals who sought advice for retirement planning led to an average pension fund that was 50% higher compared to those who did not seek advice. This compelling evidence highlights the value of professional guidance and how it can significantly benefit your financial future.
To learn more about the importance of financial advice in retirement planning and how it can work for you, we’d be delighted to share the full report on The Value of Advice with you. Please feel free to reach out to us at info@milestoneadvisory.ie. For the latest updates, subscribe to our newsletter here.
