Will I be able to retire? And what steps will I need to take to get there? These are the fundamental questions that underlie pension saving.
To answer them we have structured our retirement planning process so that it involves the following steps:
- Setting a target value for your pension fund
- Determining a suitable level of contributions based on tax and other considerations
- Monitoring the investment performance continuously to see if this target is likely to be met
- Monitoring investment conditions to check on investment risk and seeing if this justifies any particular investment stance
- Adjusting the risk profile and contribution level of the pension investment as is necessary
Correct retirement provision will usually require other investments, liquid and non-liquid, in addition to a pension. We assist our clients in building additional investment portfolios which should supplement their retirement income.
McAvoy & Associates is a trading name of Accerta Limited which is authorised by Chartered Accountants Ireland to carry on investment business.