Are You Ready To Retire in Dorset?
- Sean Fane
- Feb 18, 2023
- 3 min read
Updated: Jul 30
Dorset, located on the south coast of England, is a great place to retire for many reasons.
With its stunning scenery, beautiful beaches and charming villages, it offers a perfect blend of natural beauty and traditional charm.
The county is renowned for its Jurassic coastline, which is a World Heritage site, and its rolling hills and countryside, dotted with picturesque towns and villages. It is also home to the famous Dorset cream teas and the iconic Jurassic coastline, which makes for a perfect retirement destination for those who appreciate natural beauty.
In addition to its stunning scenery, Dorset also offers a good quality of life for retirees.
With a low crime rate, good healthcare facilities and a vibrant arts and cultural scene, Dorset is an attractive place to live for those looking to retire in a safe and engaging environment.
How Much Might You Need To Retire In Dorset?
A couple in their mid-sixties would need to have saved a substantial amount of money in order to generate an income to retire on in Dorset.
It is estimated that a couple would need to have saved around £500,000 to £600,000 to generate an income of £25,000 to £35,000 per annum. This would provide a comfortable standard of living, including a modest home, food, and other essentials.
However, generating an income in retirement can be challenging, especially if you are relying on savings and investments.
In a changing economic climate, balancing the need to keep your assets safe from risk, whilst still generating sufficient return from them, as well as optimising tax allowances is the challenge that financial advisers can help with.
Additionally, understanding how to make these assets last for the rest of your life (an unspecified period of time) whilst also having the right protection in place to meet your potential care needs or any health challenges, while still providing a legacy that can be left for your loved one.
How Can Fit to Retire Help?
As a specialist estate planning firm, Fit to Retire can assist individuals and couples in planning for retirement by creating a financial plan that takes into account their specific needs and goals.
One of the ways Fit to Retire Ltd can help is through the use of wills, trusts, and Lasting Power of Attorney (LPA).
A will allows individuals to determine how their assets will be distributed upon their death, while a trust can be used to provide for loved ones, reduce inheritance tax, or protect assets from creditors.
An LPA is a legal document that allows individuals to appoint someone they trust to make decisions on their behalf if they are unable to do so in the future.
By using these estate planning tools, Fit to Retire Ltd can help individuals and couples plan for a comfortable and secure retirement. Whether you are looking to downsize, invest in property or plan for your long-term care, Fit to Retire Ltd can provide you with the expert advice and guidance you need to achieve your goals.
If you are looking to plan for retirement in Dorset, Fit to Retire Ltd is here to help. Contact us today to find out more about our services and how we can help you plan for a comfortable and secure retirement.
Executive Advisor, Poole
Fit to Retire Ltd is an executive advisory business based in Poole, Dorset.
We provide business strategy advice to IT business owners, and we introduce our clients to qualified financial advisers for advice on savings, investments, inheritance tax planning and protection (including insurance products).
Contact us by telephone on 01202 070071.
Contact us by email at clientcare@fittoretire.co.uk
Fit to Retire Ltd is located at: FOUNDRY, The Dolphin Centre, Poole BH15 1SZ
Whilst this article provides some information related to personal finances, it should not be construed as personal financial advice. For personal investment advice please contact Fane Financial Services.
It is important to remember that investments can go up as well as down in value, and any investment you make should be assessed for its risk profile and its appropriateness for your circumstances.
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