A recent report produced by the FCA explains ‘33% of non-advised drawdown consumers are wholly holding cash. Holding cash may suit consumers planning to draw down their entire pot over a short period. But it is highly unlikely to be suited for someone planning to draw down their pot over a longer period. We estimate that over half of these consumers are likely to be losing out on income in retirement by holding cash’.
At Crown Wealth Management we will review your current circumstances and speak to you about your future aims and objectives. If required, we will then advise you on the most suitable method of drawing down income from your pension and recommend a defined investment strategy for the remaining pot.
If you are unsure how much income you can take without risking draining your pot too quickly, we can create a cash flow forecast which will visually show how income levels and investment provide different outcomes.
You should be aware that investments carry varying degrees of risk and as their underlying value can fall as well as rise you may not get back the full amount invested.