{"id":4844,"date":"2018-11-15T15:19:48","date_gmt":"2018-11-15T15:19:48","guid":{"rendered":"https:\/\/www.riaabarkergillette.com\/uk\/?p=4844"},"modified":"2024-11-19T19:34:19","modified_gmt":"2024-11-19T19:34:19","slug":"retirement-are-you-too-poor","status":"publish","type":"post","link":"https:\/\/www.riaabarkergillette.com\/uk\/retirement-are-you-too-poor\/","title":{"rendered":"Too poor for retirement?"},"content":{"rendered":"\n

On attending a very informative presentation given recently by Rathbones<\/a>, one of the UK\u2019s leading providers of investment management services, our Head of Private Client, James McMullan<\/a>, was struck by the disconnect between what the government tells us about the state of the country\u2019s finances and the reality of the situation.<\/p>\n\n\n\n

Rathbones have produced an article and a detailed report referring to various official sources, all pointing to the fact that our children, the so-called \u201cMillennials\u201d, will be the first generation to be poorer than their parent\u2019s generation. However, the situation is much worse than this, and the report is worth reading in full.<\/p>\n\n\n\n

It is clear that the State is gradually withdrawing its responsibility for, and reducing its contribution to, the welfare of its citizens as they enter their retirement years. This makes it more important than ever that we get good and timely advice about our finances and arrange our affairs in the most tax-efficient manner possible. This starts with a well-considered tax-efficient will and structuring lifetime estate planning provisions to maximise the allowances and reliefs available under the Inheritance Tax legislation.<\/p>\n\n\n\n

It is vitally important to review your financial plans and arrangements regularly (we would suggest once a year) to ensure that these are on course. Keeping in close contact with your solicitor, accountant, or financial advisor is an important part of this process. Given the challenges facing our children\u2019s generation, families cannot afford to ignore long-term financial planning. When apathy prevails, the taxman is happy! Don\u2019t let the Revenue take 40% of your family\u2019s wealth when timely planning can save thousands of pounds and make our children\u2019s lives a little bit easier.<\/p>\n\n\n\n

If you have concerns over your retirement and how to put estate planning measures in place, contact James McMullan<\/a> today.<\/strong><\/p>\n\n\n\n

Note: This article does not constitute legal advice; it provides information of general interest about current legal issues. <\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Why younger generations will have to work more, save more or spend less<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_coblocks_attr":"","_coblocks_dimensions":"","_coblocks_responsive_height":"","_coblocks_accordion_ie_support":"","footnotes":""},"categories":[16],"tags":[26,28,29],"class_list":["post-4844","post","type-post","status-publish","format-standard","hentry","category-insight-article","tag-private-client","tag-tax-and-trusts","tag-wills"],"acf":[],"yoast_head":"\nRetirement, are you too poor? 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