Now more than ever, in a world that seems increasingly uncertain, it’s vital to put in place some plans for the future. As we’ve seen in the past couple of years anything can happen, so it’s important to ensure you have the best possible financial advice in order to make plans that suit your personal circumstances. Engaging a reputable financial advisor will allow you to see beyond your monthly payslip and not only secure a comfortable retirement, but also grow your wealth in the most efficient way.
Taking Care of your Future

While a good financial planner will be able to take care of all your needs on an individual basis, having a basic understanding of terms or processes you might encounter is a very good idea. While everyone probably already knows what a pension is, a pension drawdown may be an unfamiliar term. Here’s a basic, easy to understand rundown on a pension drawdown and how it may apply to you.

Do remember that the following information is very general, so you’ll need to talk with a professional to decide whether it is appropriate for you.

What is a Pension Drawdown?

In a nutshell, it’s a way of gaining an income from your existing pension pot (while allowing that to continue growing), by reinvesting it in a fund or funds that are specifically set up and managed for that particular purpose. There are many different ways to do this, all of which can have varying results – hence the need to engage an independent expert to do it for you. It should also be noted that this process does not come with a lifetime guarantee.

How Does it Work?

You can move your existing pension plan into a Flexi Access Drawdown account, from which you can take out a portion of your existing retirement fund as a tax-free amount, which can either be used for outstanding liabilities or used to re-invest and create a tax free income stream. From the remaining fund you can take an income which is taxed at your marginal rate of tax. How and when you choose to have this this come paid to you will depend on your situation and needs. Of course the amount of the income itself will depend directly on numerous factors, including how much is in the drawdown plan, how/where the funds are invested and how they perform.

Meanwhile, your original pension pot will continue to grow. It’s pretty easy to see that in order for this to work effectively, the pension drawdown fund(s) need to be wisely chosen so it’s worthwhile and leaves you financially better off.

Is it Right for You?

Only you and your financial advisor will be able to determine whether this is a wise and prudent financial decision to make for your future. You’ll need to consider many things, one of the most important of which is the tax implication on both the income you draw and on any future retirement fund savings.

Remember that a pension drawdown is just one option open to you and, if it’s not right for your particular circumstances, there are others. Before you make any decisions you should consult an independent financial advisor, who will be able to guide you every step of the way. If you look at engaging an expert as a long-term investment in your future, you’ll have a wealth of options at your fingertips that you may otherwise never even have known about. And that’s priceless.

Author Plate

Claire Novakovic is the go-to expert for those who need advice on pension drawdown and other related issues. As a Chartered Financial Advisor, she also holds the relevant FCA permissions to conduct pension transfer business including defined benefit schemes. Accudo Investments offers comprehensive independent financial advice tailored to each individual’s needs, using effective portfolio management and tax strategies to meet the needs identified.

The ideologies of the buyers in the real estate industry have been drastically changed over the years. All they need is eco-friendly or environmental properties with required facilities. Some of the environment friendly features are:

Use of renewable energy sources
The current trend in the market is demand for eco-friendly properties. Use of solar energy in water heating appliances, air conditioners and inverters can attract many buyers. This kind of energy sources can reduce their E-bills.

Rainwater collectors
Rainwater harvesting is effective way of storing rainwater for domestic usage. By using this method in our home, a large scale of water scarcity can be reduced.

Use of wooden furniture’s
Consumers are considering organic materials like wood and bamboo to be used in interior furniture. Plywood made from wood chips and window treatment, which include bamboo shades are some of the organic designs evolving in the green properties. Wooden furniture can add warmth, richness, comfort and finesse to the household area.

Natural landscaping
It is one of the important factors for the green real estate property. Properties, which have native plants and trees growing in and around the surroundings, have much demand among the consumers. A property, which has artificial grass lawns, requires lot of water to be supplied whereas native plants and trees require only seasonal rainfall to grow. Plenty of water can be saved by having natural growing trees and plants.

Eco-friendly interior insulations
Interior insulation in home is necessary as it affects the room temperature. Use of eco-friendly insulations with wooden chips, cotton, small broken pieces of stones and rocks, newspapers, cellulose insulation can reduce the noise and green house gas emission. Natural insulations have a low embodied energy and are fully disposable/recyclable at the end of their life.

Due to the increased demand in green real estate, many firms have started to promote their properties as eco-friendly homes. Buyers are showing more interest in having energy efficient products and systems in properties. Many financial institutions and private sector firms are investing huge money in green real estate predicting its demand in the future. According to government policies, investors who are investing in this sector pay fewer taxes compared to commercial sector investing. Green building construction has become increasingly popular and construction of such buildings has been a great challenge in long run. A green building is setting up new avenues in sector and increases the talent among the architects, environmentalists and suppliers.