WEALTH MANAGEMENT is important to note, however, that this option also bears some risk as it is no longer a secure annuity and requires careful management to ensure funds are not unknowingly depleted through excessive income drawdown. In order to begin to assess which distribution strategy is right for you, you need to have a good understanding of your financial goals and objectives as well as your income needs from your pension and other assets. You should give some thought to some of the questions outlined below: • What does retirement mean to you? Will you stop work altogether or will you continue to earn a partial income stream? • Will you want to continue contributing to a pension scheme in the future? • How do you want to live in retirement? How much income will you need your assets to generate and will that income be needed regularly or at reaching certain milestones? • Where do you want to live in retirement? Will you live in the UK or back in the US, or perhaps settle abroad somewhere else? • How much risk can you afford to take with your income? How much risk do you feel comfortable with? Will short-term volatility affect your ability to meet your everyday needs? • Do you feel comfortable in retaining an ongoing involvement in managing your retirement income? • Do you have dependents or other family members who will be reliant on your income when you die?
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• Do you want to leave an inheritance to a specified individual? It would be remiss to ignore that the flexibility now offered allows US individuals to liquidate their pensions in a tax-efficient manner that makes sense for their individual situation. Individuals no longer potentially face liquidity restrictions if accessing large lump sums is a suitable drawdown strategy for their needs. Many planning opportunities for Americans present themselves as they approach retirement and decide where their retirement years will be spent. The best place to allocate your pension dollars and the amount you should ultimately seek to contribute to a pension, as well as your planned drawdown strategy in the future should become a planning point of discussion with your Tax and Wealth Adviser.
Risk Warnings And Important Information
All investments involve risk and may lose value. The value of investments can go down depending upon market conditions and you may not get back the original amount invested. Your capital is always at risk. Currency exchange rates may cause the value of an investment and/or a portfolio to go up or down. The information in this article is provided for information purposes only and does not take
into account the specific goals or requirements of any particular individual. You should carefully consider the suitability of any strategies along with your financial situation prior to making any decisions on an appropriate strategy. The information is based on our understanding of current tax law and practice and sets out some basic information about certain tax considerations from an investment perspective. However, MASECO Private Wealth is not a tax specialist. All tax rules may change and we strongly recommend that anyone considering investing seeks their own tax advice. The tax treatment of any investment or particular strategy will depend on the individual circumstances of each person and may be subject to change in the future. This document does not constitute and should not be construed as investment, tax, accounting, legal or any other advice. The information contained herein is subject to copyright with all rights reserved. MASECO LLP (trading as MASECO Private Wealth) is a limited liability partnership registered in England and Wales (Companies House No. OC337650) and has its registered office at Burleigh House, 357 Strand, WC2R 0HS. MASECO LLP is authorised and regulated by the Financial Conduct Authority for the conduct of investment business in the UK and is registered in the US with the Securities and Exchange Commission as a Registered Investment Adviser.
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