WHETHER retiring early or at the end of a long career you will have some important financial questions to ask - where to find the best choice of financial products to support your retirement, for example.
Should you go for the big pension or take a lump sum straight away? If you take the lump sum, where is the best place to put it to get the best return on your money? And who will look after your financial affairs and answer your questions on a long-term basis?
Most of these questions have the same answer: talk to an independent financial adviser. An IFA will be able to answer all your concerns and point you in the right direction throughout your retirement.
You do not even have to leave your home. Call one of the advisers listed below who will be happy to offer you a free consultation at home or arrange a suitable time for you to visit them.
``IFAs are all professional people, friendly and happy to be of help to their clients,'' said independent financial adviser John Murray. ``They will listen to your questions and offer you some answers.''
An IFA will tell you, for example, that in most cases, people will opt for the maximum available tax-free lump sum and a reduced pension. Deciding to take that lump sum opens up a new range of choices: there are more than 32,000 financial products and 160 unit trust companies to invest your money in.
Because IFAs are not restricted to the products or services of one company they can offer advice on, or access to, any or all of them. ``An IFA is under a legal obligation to provide clients with the best possible choice,'' said Murray. `They will make sure you have been offered advice from all sources.
``If you go to a bank or building society for similar advice, it is very likely you would be offered investment products from their own insurance company only.''
Staff at banks and building societies are also unlikely to be able to offer you the same long-term care as an IFA. They may move branches, or take up another position - or leave for another job altogether. This means your account could be handled by many different people throughout your retirement.
Most IFAs have been in the business for many years and plan to stay in it for many more. They will perform regular reviews and updates of your financial situation and investments, and are usually available to answer your questions at short notice.
This offers you a more cohesive approach and someone who has a thorough knowledge of your financial needs. ``People don't want to be passed on from face to face,'' said Murray. ``To obtain the best choice and regular updates on your position, your best contact is your IFA.''
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