Partner Article

Decisions to make ? Ill health as you approach Retirement

Our experience shows that ill health is something that affects all sorts of people at all sorts of times. It is something that we can not always predict. As we grow older the greater the chance of developing serious ill health.

As people approach retirement the best of plans may be thrown off track and never to recover. Ill health forces business sale maybe house sale, which are two common areas that we would all like to avoid. All serious retirement plans must have provisions and options for ill health.

Unfortunately ill health is something that becomes more likely as we grow older. What should you do if serious health comes to you before retirement?

First of all you need to seriously assess the seriousness of the condition or illness that you have.

You need to address the needs of your family both in the long term and short term. What will their needs be, how will they cope.

Having looked at that you need to assess the options on your pensions and assess the rules and how it affects the numbers and benefits on your pensions. What are the implications of taking benefits immediately compared to waiting to take the benefits.

Again depending upon your state of health you may seriously need to consider how the benefits are for your family upon death. Both immediately and if you have started taking the benefits.

In summary anyone approaching retirement that develops serious ill health should seek financial help. It could well be that there are important decisions that affect significantly the financial well being of the family in the longer term.

Contact the office for a FREE no obligation appointment to discuss any of the above issues raised on 0871 271 1280 or e-mail info@reevesifa.com NOW!

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This was posted in Bdaily's Members' News section by Nigel Reeves .