Financial Planning for 75+ Year Olds
In your mid-seventies and beyond, financial priorities shift significantly towards preserving your wealth and ensuring it lasts throughout your lifetime. This stage often involves planning for healthcare and living needs while considering how to pass on your legacy to loved ones. At Transform, we'll help you manage your wealth to provide comfort, security, and peace of mind in your later years.
Wealth Overview
Where You Are Now
At this stage, the emphasis is on managing existing assets and ensuring they meet your evolving needs. You may be:
- Relying on pensions, annuities or savings to fund day-to-day expenses.
- Considering care options, either for yourself or a partner.
- Thinking about your estate and how best to pass on your wealth.
- Looking to simplify life — fewer responsibilities, more freedom.
The priority is no longer growing wealth, but preserving it — without sacrificing quality of life.
Key Financial Priorities in Later Life
Financial priorities in this stage revolve around security, healthcare, and legacy planning.
Your key goals should be:
Protecting Day-to-Day Income
Ensuring your resources are managed to provide for daily expenses and potential healthcare needs without exhausting your assets.
Preparing for Healthcare and Care Costs
We help you plan for rising medical costs, potential care home fees, or in-home support — so your future comfort is never in doubt.
Passing on Wealth Thoughtfully
From updating Wills to creating tax-efficient trusts, we help structure your estate around what matters most to you.
What You're Feeling
Financial Concerns and Emotional Factors
In later life, individuals often face unique financial and emotional challenges. Financial stress is common, particularly with rising healthcare costs, potential long-term care expenses, and concerns about outliving savings. Emotionally, many retirees feel a sense of fulfilment but may also experience anxiety about managing unforeseen expenses or ensuring their wealth is passed on according to their wishes.
This period often comes with mixed emotions:
💬 “How do I make sure I don’t outlive my money?”
💬 “Should I help my children now or wait until later?”
💬 “What are the tax implications of leaving a large estate?”
💬 “What if my care needs change suddenly?”
These are not just financial questions — they’re deeply personal ones. We’ll help you find answers that protect your values as well as your wealth.
Lifestyle Considerations
This stage is often about simplifying life and increasing comfort.
We work with clients who are:
1. Downsizing to a more manageable home or retirement community
2. Ensuring easy access to healthcare and support services
3. Spending more time with loved ones, travelling less but enjoying more
4. Reflecting on how to share their wealth while alive — not just through inheritance
We will help to ensure your money is working for you — not the other way around.
Managing a Windfall in Later Life
A financial windfall in later life can offer greater flexibility, but it requires careful planning to maximise its benefits. Allocating the funds conservatively can help strengthen your financial plan, enhance healthcare provisions, or support your income strategy. Additionally, gifting a portion of the windfall to family members can assist children or grandchildren while also reducing inheritance tax liabilities.
We’ll advise you on how to:
✅ Allocate funds to enhance your care provisions or retirement income.
✅ Gift strategically to reduce future tax liabilities.
✅ Strengthen your estate planning, using trusts where appropriate.
✅ Enjoy some of it — knowing you’ve secured what matters most.
By strategically investing the windfall, you can prioritise security, such as setting aside funds for healthcare or establishing trusts that align with your legacy goals.
Why Financial Planning Still Matters in Later Life
Some assume financial planning ends with retirement. In truth, this is when it becomes most personal.
Protect Your Comfort
We ensure your income is stable and your care is funded — without financial anxiety clouding your later years.
Secure Your Independence
We help you navigate options for covering care expenses, whether through insurance or dedicated savings, to ensure your lifestyle remains secure.
Shape Your Legacy
Our team works with you to minimise taxes and ensure your wealth is distributed exactly as you intend, leaving a lasting legacy for your loved ones.
FAQs
How can I make my wealth last throughout retirement?
We build a tailored preservation strategy using low-risk, income-generating investments and withdrawal plans that cover your needs without eroding capital too quickly.
What should I consider when preparing for care costs?
We’ll help you explore all options — from self-funding and long-term care insurance to ringfenced savings — to ensure you’re covered for any eventuality.
Is it too late to start gifting?
Not at all. Lifetime gifting can significantly reduce Inheritance Tax. We’ll help you gift safely, efficiently, and with full understanding of the implications.
Get in Touch
Whether you’re managing wealth alone, planning as a couple, or supporting an ageing parent, we’re here to help.
Book a discovery consultation today, and let’s work together to protect your comfort — and your legacy.
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Transform Financial Planning (FP) is a trading style of Bridge Investments Partners Ltd. Bridge Investments Partners Ltd is authorised and regulated by the Financial Conduct Authority and is entered on the Financial Services Register https://register.fca.org.uk/ under reference no. 608975.
Registered in Scotland. Company Number: SC456760. Registered Address: 19 Monktonhall Place, Musselburgh, Scotland, EH21 6RR.
The guidance and/or advice contained within this website is subject to the UK regulatory regime and is therefore targeted at consumers based in the UK. Regulations, levels and bases of taxation are subject to change. The value of your investment can go down as well as up and you may not get back the full amount you invested.
The Financial Conduct Authority does not regulate Inheritance Tax Planning, Business Planning, Will Writing, Taxation and Trust Advice. The firm is not responsible for the content of external links. The content is aimed at UK residents or residents of MiFID countries. See our Website Terms of Use.
Making a Complaint
If you wish to register a complaint, please email hello@transformfp.com or write to us at Transform FP, Compliance Officer, 129-131 Comely Bank Road, Edinburgh, EH4 1BH UK, or telephone us on 0131 315 222.
A summary of our internal complaints handling procedures for the reasonable and prompt handling of complaints is available on request. If you cannot settle your complaint with us, you may be entitled to refer it to the Financial Ombudsman Service at www.financial-ombudsman.org.uk or by contacting them on 0800 023 4567.
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