The pandemic has created a great deal of uncertainty for pilots and crew. The constant need to keep ratings valid, competencies refreshed and protect your personal wellbeing can be a difficult cycle to upkeep.
For many life in the air may temporarily be on hold, but everyday stressors on the ground continue, including financial decisions that need to be proactively managed.
It was our pleasure to recently host another #WednesdayWebinar for Resilient Pilot members to discuss this important topic and ask: Is Your Financial Planning Prepare for Take- Off?
We discussed how your holistic planning can build peace of mind over the long-term as we return to the cockpit. If you missed the webinar then it's now available to watch 'on demand' here.
The webinar covered a number of key areas to consider to build clarity on your current financial picture, while assisting your planning for the future such as:
Protecting you in the skies
Tips to keep your finances on track as we return to work
Goal planning tools and tips
Protecting the wealth you have already built
Reducing tax liabilities while planning for the future
Estate Planning - How your estate is treated if anything happens to you.
Now that the world is starting to reopen, it's important to consider these areas in your financial planning to protect your wealth, and build strong foundations for any future adversity. However you will also need to consider your long term goals...
Is your runway to retirement being cared for and maintained?
Understandably, retirement planning may not be at the forefront of your mind right now and from speaking to many pilots, you are all going through your own circumstances. However, here's a few pointers to consider...
It's great news that as a nation, we are living on average 10 years longer than just 50 years ago, with the current average life expectancy being 81 years old. Unfortunately, however, this hasn't changed the CAA's age limit of 65 for commercial pilots.
This means our retirement savings need to work harder for us into our retirement, which is why reviewing your retirement planning as early as possible can help you live the retirement lifestyle you desire, when you want, while ensuring you don't run out of money.
Many pilots have benefited from our complementary "Retirement Planning Consultation & Report" and we'd like to extend this offering to other Resilient Pilot members.
Here are some questions to consider:
Do you have any lucrative benefits worth keeping with your current retirement plans and do they change how to access your benefits?
Are your funds giving you the best possible return on investment and being actively managed?
Are you on track to hit your retirement planning goals?
Do you have pension pots in the background that you are unaware of that aren't being managed properly?
Are your pension funds in alignment to your attitude to risk and ethical preferences?
Understanding how your current wealth will impact your future allows you to build financial clarity, overall creating peace of mind for you and your loved one's.
If you are unsure on how to answer any of the above questions, as a Resilient Pilot member - you can receive a personalised report and cashflow projection on your current retirement planning, at our cost which will highlight answers to the above questions and more.
Upon request, we can also provide recommendations and guidance on how you can ensure you reach your retirement planning goals and live the retirement lifestyle you want, when you want.
Contact us today for chat or complimentary consultation
Check out our Resilient Pilot Support...
Lionbridge Wealth Management provide a wide range of financial support services whether you are looking to build, grow, protect or preserve your wealth. For further wellbeing support, and to explore our other collaborative partners click here.