Life planning.
Self-Invested Personal Pensions (SIPP)
When thinking about your retirement, it makes sense to start early and invest regularly, and make sure that your pension plans are properly funded to give you the income you’ll need during your retirement.
Self-Invested Personal Pensions (SIPP)
There is no one-size-fits-all approach when it comes to Self-Invested Personal Pensions (SIPP) investing. Your Elixir Wealth adviser will help you to understand the options available and make recommendations on the right choices for your individual circumstances.
With a traditional pension, you typically have little say in where your money goes. But with a SIPP, you can choose from a wide range of investment options, including stocks, bonds, commercial property, other securities and more. This means you can tailor your portfolio to suit your specific needs and goals.
All profits and gains made within a SIPP are free from capital gains tax, while income tax is only payable on withdrawals made after you reach the minimum pension age. This can make a significant difference to the amount of money you have available in retirement.
Investing in a SIPP also gives you more flexibility in retirement and enables you to take your money out as a lump sum or withdraw it gradually over time. This means you have more control over how you use your money in retirement and make sure it lasts as long as you need it.
Is it time your reviewed your retirement planning?
If appropriate a SIPP can be a very effective way to save for retirement, but it’s important to get expert advice and understand all the fees and charges before you make any decisions. We’re here for you. To speak to an Elixir Wealth adviser, please contact us.