Tax Efficient Retirement Planning
Do you know how many pay days you have between now and your ideal retirement date? Let Elite help you plan for the lifestyle you desire.
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Overview of the Elite service
“The first person you should pay each month is yourself”. This mantra maximises savings and wealth accumulation but requires planning, discipline and must be a non-negotiable habit. As your career progresses and income increases, it’s easy to allow lifestyle drift to eat up the surplus. Maybe you save regularly, but do you know how much you need to save, what returns you must achieve and what tax planning strategies you must adopt, to arrive at your intended retirement date with assets capable of replacing the pay cheques, for what we all hope will be several decades? At Elite we are experts in this field… We help you model cashflow, balance lifestyle with efficient saving and smart investing. We suggest parameters, build in flexibility and position assets including real estate with diversified, risk appropriate liquidity. All this with an eye on current, medium and long term tax efficiency.
Who is Elite intended for?
Our Elite service is aimed at busy, high earning families and individuals, who are seeking help with future planning. You will be assisted by industry professionals with decades of experience who listen to your wants, probe to uncover common misconceptions, clearly communicate strategies and agree a solution to suit your circumstances.
What Elite could do to help?
Successful people have busy lives. Planning for retirement is often left until tomorrow. At Elite, we help you identify the goal, set an achievable course and execute the plan with the required flexibility, in a structured and timely manner.
Case Study
Simon has approached dV Elite and provided the following information ahead of the first meeting. At age 47, Saudi Arabia has recently become home, with a 5 year, potentially renewable, contract on employment. UK personal pension savings stopped last tax year after 20 years of funding. Simon is married to Jayne, his second wife, and has two children from his first marriage. Jayne remains in the UK for the near future but may move out later. Simon has significant surplus monthly income, already accumulated liquid assets, a UK home with a small mortgage and wants to retire, probably in the UK, as soon as financially possible, currently targeting 57.
Topics of discussion
- Income requirement in retirement, including annual escalation
- Value of current scheme and current investment allocations
- Discuss continuing to fund UK pension scheme for 5 tax years, still with UK tax relief
- Pension funding for Jayne, also with tax relief, plus consider ISA’s
- Dependants and Nominees on current pension; vital consideration if children are adults
- Model monthly savings requirements to meet retirement objectives
- Discuss investment structures for future UK taxation advantage
- Highlight possibility of UK pension withdrawal, tax free, if still in Saudi Arabia at 57
- UK inheritance tax planning and trusts, particularly with children from earlier marriage
- Wills and continuing National Insurance contributions
- Taxation of UK property if rented later and/or sold
- Any other potential retirement destinations
Whilst being confident of the accuracy of information contained in this website, it must not be replied upon when making any personal decisions, particularly in regard to taxation and financial planning matters. Appropriate and bespoke financial and taxation advice, relevant to your own circumstances, should always be sought.