According to research, 70 per cent of Brits cannot see themselves being able to retire early and less than one in three are able to save enough towards their goal of taking an early retirement.
But the team at Wealth of Advice, which has just opened a new office in South Shields, are here to help every one of us use our money better.
“We want to help people retire earlier and for longer by having a healthier, happier retirement,” explains Mike Weedon, a financial adviser and pension transfer specialist at Wealth of Advice.
“The biggest satisfaction I get from my job is the relief on people’s faces when they realise they don’t have to work 12-hour shifts or do manual labour well into their sixties.
“Since Covid, we have all realised that time is an asset as well as money. So we are here to get people to retirement earlier and for longer – you don’t have to work until you are 66 or 68.”
In the UK, the Institute for Employment Studies have estimated there are roughly 310,000 fewer older people in the labour market post-covid, with many of these retiring earlier than anticipated.
The company, which has its headquarters in Durham, opened its South Shields branch in March to help residents better understand their retirement plans as well as potential investments.
“Financial advisers have gained a reputation for being dull or untrustworthy but we are doing things very differently,” continues Mike. “We want to make financial advice more accessible for everyone – we understand that not everyone is used to having hundreds of thousands of pounds to invest, so it’s a shock when they pay attention to their pension for the first time - which makes us a great starting point for people who’ve not had financial advice before.
“Our team is young and we plan to be around for a long time, and we’ll get to do that by giving good, honest advice and straight talking without any hard sell.
“We are here to tell our clients what is right for them, which might mean doing something or it might mean not doing something.”
As part of their mission to make financial advice more straightforward, Wealth of Advice post regular updates on their website to help people learn more about their retirement. They are setting up regular seminars, the first of which was held on Friday, May 20, while their frequent posts on Facebook and Twitter aim to shine a light on key facts and figures to inform and educate everyone.
“It’s about helping people to make the best choices for them: retirement is the biggest project that anyone is going to undertake, and hopefully the longest, with our help,” adds Mike.
To find out more and book an appointment with the small, friendly team at Wealth of Advice, visit www.wealthofadvice.co.uk today.