Maintain your standard of living in retirement
Everyone hopes to maintain the same standard of living in retirement as they presently enjoy while working, but to achieve this requires considerable forward planning. Here are some important questions you need to ask yourself:
If you are in business, the first thing you need to consider is your exit strategy. Will you withdraw from the business, leaving it for the next generation, or will you hope to sell the business? If you intend to hand the business over, do you have a workable succession plan? If you intend to sell, how will you value the business, find a suitable buyer, etc.? Are you aware of all the tax implications of the timing of disposals?
Have you made adequate pension provision, and do you have the right type of pension? Are you aware of all the pension possibilities open to business owners and directors? Are you making full use of all your allowances?
Savings and investments
Do you have the right balance between savings and investments, and between high and low risk exposures?
Life assurance and long-term care
Do you have adequate life assurance, and have you made provision for long-term care and medical insurance for you and your spouse in your later years.
We can help you answer all these questions and recommend solutions tailored to your particular needs.
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Hoffman Consulting can fulfil a range of financial needs, with expert advice and management across the full field of accountancy, bookkeeping and business advice services. Whether it’s a business matter, personal, or requires specialist sector knowledge, our team will be able to help.
From personal taxes and self-assessment tax returns, to retirement strategies, estates, and inheritance tax planning, our personal services cover all the bases to protect your finances.
Most practices offer the basics, we go the extra mile. We help medical consultants, contractors or freelancers in the retail, IT, and entertainment sectors, and legal professionals.
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