Jim looks at the financial options available to the Police family post retirement:
Some retirees think that as soon as they stop, our support stops. Not so. In fact you’re still eligible to all products and services post retirement as you were before. In particular, the online Retirement Centre is open for those wishing to find out more about investment options, second careers, starting a new business, making a CV, wills and estate planning, volunteering and how to keep fit and healthy.
I suppose it’s easy to settle back and take a long rest, but we like to encourage retirees to stay mentally, physically and financially active. I’ve always believed that one of the biggest risks is doing nothing.
For example, think about your commutation. Inflation will erode into it and it’s likely that its value will drop in real terms. In 1950, £500 could buy you a house. In 1960, a car. Now, it’s a flat screen TV. So it’s really worth looking at your savings and investment options.
Of course, I’m not here to advise on what’s best for your particular circumstances, but I wanted to give you some things to consider.
An Options ISA is one way of making your money work harder. You have a choice of three options within the ISA to select from and you can invest across them all if you so wish. Anytime Access gives you money-back protection for your savings at any time, Protected Growth provides guaranteed protection at five-year set points and Non-Guaranteed offers higher potential returns for your savings.
If you need help finding the right investments, an Independent Financial Adviser is worth chatting to. We can provide impartial, independent advice on all the investment products on the market that are available to you. We offer low initial charges, regular reviews and online access to keep track of your investments.
As an IFA, we will find out what you want and then meet those needs. And if you do need us, we see it as just the start of a long-term journey and relationship. We believe in being there should any of your circumstances change now or in the future.