Naveen Kumar’s Post

Everything you need to know about tax in retirement. Planning your retirement income can seem daunting, especially if you’ve managed to save or invest in a range of different assets over the decades. For most of us though, the first thing to consider – your baseline – will be your pension. The good news is that generally the first 25% that you draw from a Defined Contribution pension is tax-free. But after that you’ll be taxed at your marginal rate of income tax. So, what other options do you have to fund the retirement you’ve been planning? #investing #retirementgoals #retirementplanning #investmentplanning

Today, you’ve got far more flexibility in how you plan your retirement income, but there are a few tax-traps to look out for. Paying tax when you’re working is quite different to paying tax when you’re retired, so take advice before you make any sudden changes or costly choices. Once you retire, you pretty much stop paying into your pension and started drawing it. However, many people keep contributing, or keep their pension invested for most of their retirement. Understanding how your tax position changes when you stop working is an important practical step to staying financially healthy and secure when you retire. Head to my website to find out more. https://lnkd.in/dV2eFNxu

Understanding how your tax position changes when you stop working is an important practical step to staying financially healthy and secure when you retire. Fortunately today, you’ve got far more flexibility in how you plan your retirement income, but there are a few tax-traps to look out for so read on or ask if you need to know more. #charteredfinancialplanner #retirementplanning #taxinretirement

Build the pension pot you deserve by making tax-smart decisions. Read more about how to plan for your retirement here: https://lnkd.in/eFUZrY2w #RetirementPlanning #TaxPlanning

Today, you’ve got far more flexibility in how you plan your retirement income, but there are a few tax-traps to look out for.

Unlocking the Future of Your Retirement: What Are Your Pension Options? Planning for retirement can be overwhelming. In my second column for The Irish News on pension options, I delve into the various paths you can take to optimise your pension—whether you're nearing retirement or just starting to think ahead. To save you time - 🎯 Key Takeaways: Flexible Retirement: Explore how you can tailor your retirement plan to suit your lifestyle. Investment Strategies: Learn about the potential growth opportunities within your pension fund. Tax Implications: Understand how different options can impact your tax situation. This piece isn't just for those at the cusp of retirement—it's essential reading for anyone who wants to make informed decisions about their financial future. 💡 Read the full column here. #RetirementPlanning #Pensions #FinancialFreedom #Investment #TaxPlanning #PersonalFinance #irishnews

Something of a hot topic pre budget. Vital to seek proper advice (from a qualified adviser, not a friend of a friend!) and make an informed decision.

Build the pension pot you deserve by making tax-smart decisions. Read more about how to plan for your retirement here: https://lnkd.in/gm5XEjCY #RetirementPlanning #TaxPlanning

Coming up to retirement and want to make sure you’re paying the right amount of tax? These are the key tax-traps to avoid – to stay on top of your taxes.

The earlier you start to plan your retirement the better, no matter what career you are in, but especially if you are running your own business. Find time to speak to Rebecca S. and find out how you can make the most of the opportunities available to you.