With Easter coming this week, lots of people will be exchanging Easter Eggs! For many of us, this is a symbol of something new and also a memory of childhood. Eggs are also a symbol of planning for the future and, in particular, our ‘nest egg’ for retirement.
We recently highlighted Equality Wealth’s LGBTQ Retirement Guide to encourage our community to be proactive about the issues and opportunities facing us when planning for our eventual retirement and building up our ’nest egg’.
A key issue affecting older LGBTQ people is what to do with the ‘Retirement nest egg’ as retirement gets closer. Our Retirement nest egg may be in the form of receiving a pension from our employer based on salary (defined benefit) – or having our own Pension Pot (defined contribution) which then pays us an income. This is a complicated issue and there is no one-size-fits-all answer. The best way for us to know the best options is to get proper advice.
For LGBTQ people who are approaching retirement and wondering what to do, there may be different issues to consider. Many of us may have spent years living in the closet and not planning for retirement. We are also generally less likely to have children and dependants, and our succession planning may therefore well be different. These kind of issues are important considerations when thinking about what to do with our Retirement nest egg.
Equality Wealth stresses the importance of getting independent and understanding advice. We’ve partnered with local-area LGBTQ specialist Pension Advisers across the UK, each offering a free independent Pension Review for the LGBTQ Community in their local area.
If you’d like some understanding and respectful advice on what to do with your Retirement nest egg, request a free review meeting with an LGBTQ accredited advisor by clicking here.
We wish everyone a Happy Easter and enjoy the chocolate egg!