ADVICE
Do we need to
re-think pensions?
With new research showing most people reach
their mid-40s before determining the amount they
need to save for retirement, Paul Gilsenan Wealth
Management considers whether a different way of
thinking is the key to successful pension savings...
W
e all have an image of retirement –
cruises around the Italian coast, fully
paid-off home, helping the grandchildren;
what many fail to calculate is the cost of
fulfilling these dreams.
Indeed, new research from insurance firm
Aviva shows that most of us are in our 40s
before even asking the question.
Many are “living for today” with 12% of
over-50s considering a big purchase, such
as a car or kitchen, before topping up the
pension pot.
So, what is the solution?
“Perhaps we need to start thinking
of pensions not as savings for a future
none of us are certain of, but as a regular
monthly cost, like your mortgage or car
payments,” says Paul Gilsenan, principal
of Paul Gilsenan Wealth Management, a
partner practice of St James’s Place Wealth
Management.
“The best solution is to sit with a
professional financial advisor and start
talking. The answer will be different for
everyone and will undoubtedly change as
your personal circumstances do.
“Having a professional by your side will
ensure you are always in the best position to
adapt, while keeping to your ultimate goal.
“It’s never too late for a professional
assessment of your circumstances. Solid
advice and strategy can help you stay on
track, giving you an image of retirement that
is less fantasy and more fulfilling.”
Based in Wynyard, Paul Gilsenan Wealth
Management provides expert financial
advice that helps discerning individuals
and businesses achieve their principal
financial objectives.
Find out more at
www.paulgilsenanwealthmanagement.co.uk
The Partner Practice represents only St. James's Place Wealth Management plc (which is authorised and regulated by the Financial Conduct
Authority) for the purpose of advising solely on the group's wealth management products and services, more details of which are set out on
the group's website www.sjp.co.uk/about-st-james-place/our-business/our-products-and-services. The titles 'partner' and 'partner practice' are
marketing terms used to describe St. James's Place representatives.
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