Retirement is one of the most significant milestones in our lives
The decisions we make up until and during this stage have drastic consequences on our future sources of income and standard of living during the long years of retirement.
Some people plan their retirement as early as their 40’s; thus, when they get to the age of retirement, their savings and knowledge allow them to continue to enjoy the same quality of life they had up until that point.
However, not everyone plans their retirement that early. For them, in the best case scenario they are not ready for retirement when it is time for them to retire, and in the worst case scenario, they are completely helpless, which leads to a substantial decrease in their quality of life or even financial hardship. Over the past few years, the pensionary and financial branches have gone through significant changes in terms of product structure, methods of saving on a regular basis, taxes, the way to realize the funds, and the way to find information.
Many clients find it difficult to understand or adapt to the numerous changes that occur in the field, changes that have a significant impact on their personal well-being during retirement.
The planning stage
Planning retirement and taxation includes various topics such as understanding the expectations in terms of the size of the pension, planning the taxation at the age of retirement, and learning about the different tools for pensionary savings, the various bureaucracies and forms, tax benefits, etc.
The more thorough and extensive the planning, the higher the chances that when one does get to retirement, they will be able to maintain their current standard and quality of life.
The decisions we must make before retirement are crucial, as they will greatly influence you – and your family – in the years to come. Retiring raises many concerns about the future. A retirement expert can consult and help you with making the right decision, the one with the best outcome for you. A retirement consultant is well-versed in a wide variety of fields, like insurance, taxation, and pension. Thus, referring to a retirement consultant is extremely important.
If you are interested in being prepared, in planning your financial future, contact us at Sparta-capital for advanced financial guidance.