Retirement planning is an art, but in its simplest form, it is taking the necessary steps to prepare for life when one retires. Oaks Hill has dedicated time and resources to a deep dive into what makes a robust and resilient retirement plan. Retirement planning for us means taking a personal approach to an individual to identify what a client wants for their retirement. This could be a comfortable amount of passive income to live the life they are accustomed to or having that nest egg to go and do things they always dreamt of. Whatever the goal in retirement, it is never too early to start laying the foundations for a prosperous and bright future.
Our dedicated team work closely with our clients, ensuring that care and attention are given to each individual, enabling us to fully understand a client’s unique financial circumstances along with their risk tolerances to build a detailed picture of each individual and ensure only appropriate advice is given for the best interests of the client. Our experienced team will identify income sources and how they are performing in relation to the current geopolitical landscape, current inflationary pressures, and domestic conditions for the client. Our team can then size up current expenses and, through a responsive and detailed approach, advise on implementing saving programs, managing assets, investments, and other opportunities to create a robust, diverse, and adaptable plan able to withstand ever-changing market conditions while ensuring a client’s risk tolerance is considered in the measured approach.
The reasons a client chooses to act on retirement planning can be diverse, though the benefits are clear: financial, personal, and psychological being at the top of most lists. Yes, psychological benefits are there when you undertake retirement planning. The number one benefit from retirement planning, though, is peace of mind. This is so important because retirement planning doesn’t just give you peace of mind when you are retired; it’s the build-up to retirement as well. Planning in advance decreases stress, enabling a more relaxed and calmer lifestyle even before you start to take your foot off the gas, enabling our clients to enjoy the benefit of peace of mind before retirement. Planning ahead for retirement impacts your everyday life. Knowing your retirement is prepared for will allow you to make better choices regarding your career or general financial path. It allows a client and spouse to really be on the same page and start working towards those long-term goals in retirement. It is true that over 65% of retirees saw their costs increase in retirement, but by having a detailed and diverse retirement plan, our clients don’t have to worry about the uncertainty because our dedicated team uses their wealth of knowledge and experience to safeguard them against the unexpected.