The assets and wealth that you have created are ultimately there to help you, and possibly future generations, achieve your goals and meet your lifestyle needs. It is only natural that this means that at certain times in your life you will consider unlocking some or all of the assets that you have built up, after all, it is your money.
Unlocking an asset can take many forms as your wealth may be held in property, pensions, or investments. The order in which you unlock these investments can have a material impact on your long-term security as different assets grow at different rates, and are taxed differently. The answer as to which assets to unlock, or whether it is appropriate to unlock an asset at all, will depend on your own personal circumstances, timescales and objectives.
For example, if you were particularly concerned about leaving assets to the next generation then it may be more appropriate to access assets other than a personal pension prior to the age of 75, as these benefits could be passed tax-free to your nominated heirs. It could also be appropriate for you to access an ISA account in favour of directly held shares or funds that could result in capital gains tax falling due. It may well be that because of your personal tax position the best solution is to access a combination of assets, or none at all.
It may also be that you are unlocking an asset to help you buy another. We can also help you look at all of your options. It could be appropriate to arrange short or long term borrowing instead, securing a loan against a property or even against a portfolio.
Whether you need to make a withdrawal to meet your lifestyle needs, downsize, or buy your dream home, we can help you make an informed decision and assist you in unlocking your assets where it is the course of action that is best for you.