Preparing for retirement

Is your financial plan working as hard as you are as you approach retirement?

Our financial planners can review your current savings and investments, model your likely expenditure and create a robust plan to help you live well in retirement.

Let's talk
Two people reviewing financial information on a smartphone at a table at home as part of preparing for retirement and planning future income

Prepare for your retirement with confidence

As you prepare for retirement, it’s important to plan how you are going to generate an income for the years ahead. With careful planning and advice, you can reduce the amount of tax you pay to make your money go further, help to protect your wealth and lifestyle in retirement.

Tips to reduce tax on your retirement income

    Use taxable withdrawals

    Use taxable withdrawals

    Start with taxable withdrawals to make use of all your available allowances. From there, a financial planner can tailor the next steps to your priorities, keeping you tax-efficient and focused on your long-term goals.

    Consider spreading pension withdrawals

    Consider spreading pension withdrawals

    By phasing withdrawals from your pension pot over time, you can keep your taxable income under control, helping to avoid higher tax bands and preserve pension growth.

    Optimise all allowances

    Optimise all allowances

    Structuring your income and assets more strategically helps to reduce your overall tax exposure and preserve more of your wealth in retirement. This may involve maximising your annual ISA contributions, making full use of your spouse or partner’s allowances, or investing in higher risk investments if appropriate to do so.

    Review your plan

    Review your plan

    It’s important to regularly review your plan to make sure it is working as hard as it can and keeping pace with life’s changes. Reviewing your plan with a financial planner can bring clarity and help you make confident decisions.

    Insights on how to prepare for your retirement

    Preparing for retirement is about more than stopping work

    Retirement can span decades and shape far more than your income. Taking a considered approach early can help protect your financial independence, lifestyle choices and the freedom to adapt as circumstances change.

    Read our guide

    Frequently asked questions

    Here are some of the most common questions we hear from clients who are preparing for retirement.

    What clients say about our service

    Your retirement planning journey starts today

     
    • Your details
    • Your enquiry
    • How we handle data
    I am a/an

    If you need immediate assistance, please don't hesitate to call our Helpdesk at 0800 151 3355. We're available Monday to Friday, from 8am to 6pm (excluding bank holidays), and we're here to help with any questions or issues you may have.

    If you're interested in registering for MyRathbones, please reach out to your investment manager directly or read more about the platform here.


    If you are an existing client, please contact your investment manager or financial planner directly to address your query or visit ⁠our people page to find their details.