Chris Ball, co-founder of HoxtonCapital Management, helps clients by providing financial advice, specialising in assisting individuals with their retirement planning. Hoxton Capital Management has established itself as one of the fastest growing independent advisory companies in recent years.
Since its inception in 2018, Hoxton Capital has operations in London, Sydney, Texas, Abu Dhabi, Dubai and Ireland. The company currently manages in excess of $500m and has over180 employees across the group of companies. From these global hubs they manage a rapidly growing client base of mostly expatriate clients.
There are many different providers who you can choose to save with once you have decided to start saving into a pension, however, you need to consider which is the right one for you.
A personal pension scheme would require a financial adviser to help set up, this is because there is a much broader range of options on the market to choose from and an advisor would provide advice as to which one would be suitable for your needs.
Discussions around choosing your first pension will be part of the process that enables you to decide how it will be invested. With a basic personal pension, you can make regular monthly payments into a plan with a wide range of investment options.
If you work for a company you may have access to a workplace pension, which is a convenient route into pensions saving. All eligible employees are now enrolled automatically into a workplace pension.
The good thing about this type of pension is that whatever money you pay into the scheme gets topped up twice, first by your employer and then by the government in the form of tax relief.
It is important that you start to think about a pension as early as you can so don’t be put off making a decision for too long. Hoxton provides unparalleled personal financial advice to all clients whilst committing to safeguard their financial futures.
Here are 4 Tips to get you started:
- Do Your Homework
Your retirement may last for 25 years or more, which means you will need to support yourself for that length of time. The sooner you start looking to join a pension the longer you have to grow your savings. This will help you build up a substantial amount for your retirement. The longer your money is invested, the more interest it can earn. You should try to contribute a portion of your earnings into your pension every month.
- The State Pension
If you are in receipt of a State Pension paid to you by the government, the amount is small and is only paid to you from your pensionable age, which rises regularly. Therefore, you will probably need some sort of pension savings to support you before and after you reach State Pension age.
- Alternative Pensions
Your financial advisor can help you to select the best pension for your circumstances including stakeholder pensions and self-invested personal pensions (SIPPs). SIPPs can provide a flexible way to save for your retirement. They are a good option for people who want to gather all of their pensions into one pot before retirement. For further information contact your financial advisor.
- Long-Term Investments
There are other ways to put money aside to help fund your retirement, such as property. If you want to explore other options in addition to your pension, talk to a financial adviser and ask them to find you investments with good performance that have reasonable fees.
All in all, once your goals and timeframes have been set, don’t try to second guess them. Any dip in the market can damage your confidence, while an upsurge may entice you to take more risk than you can financially accept.
If you want to explore other options in addition to your pension, contactHoxtonCapital.
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