COVID-19: The nemesis of your retirement planning?

A study shows that people who took financial advice increased their wealth by over £40,000 more than people with no financial adviser.


Reading time: 15 mins

2020 will go down in records as one of the strangest years in recent history. For months we have been monitoring almost hourly the effects of Coronavirus and the new updates which governments across the globe have provided in response to this mass crisis.

Whilst we have considered many aspects of life as challenging, we may have neglected the one area of planning which has the longest personal financial effect. Supermarkets ran out of items such as toilet roll, pasta, rice and cleaning products. Many checked their employment contracts to ascertain their short term income position in the midst of business interruption. Companies reached for their insurance policies to check terms on policies they had funded, in some cases for decades. But a savvy few reached for their financial paperwork to check the performance of their pensions, with one eye on that long term goal to retire to the life they have planned out in their minds, whilst waiting for the glorious day of new possibilities to arrive.

Why is reviewing your pensions important in times of crisis?’, you may ask. Well, like many of you reading this article, at Markland Hill Wealth, we have staff members who are due to retire in the next 10 years. They will tell you regular reviews are critical for their future golden years.

Did you know for example…

Since World War II, bear markets (falling stock markets) have lasted 13 months on average, losing 30.4 percent of their value. (CNBC), and during the 2020 COVID-19 crisis, the Dow Jones US Stock Market recorded its worst ever day. We are certainly in a bear market at the moment.

There is light at the end of a financial review though.

A study by ILC UK (2001-2007) showed that people who took financial advice increased their wealth by over £40,000 more than people with no financial adviser.

Our Director and Independent Financial Adviser Mike Johnson offers his own words of wisdom. ‘If you, like me, have less than 10 years to go before you retire, I urge you to take advantage of our free retirement review as soon as possible. Many people I see haven’t reviewed their pensions in a long time. Many don’t know what assets they are invested in. Most don’t understand the level of risk their pensions are currently exposed to. A simple review can change all of this and get your plans back on track today’.

Our retirement readiness review will give you:

  • A total current valuation of your pension portfolio
  • A detailed analysis of historical performance
  • A risk grading of the underlying investments
  • A summary of your options for risk and reward towards your chosen retirement date

We urge you to follow Mike’s lead. Contact us today to take control of your future, today. Our review can take place face to face, or if you prefer, by online meeting (Skype, Zoom etc.) or by telephone, given the current government advice about meetings

In the first instance please contact Barrie Dawson on 07969 142837‬, or email him at Please note that due to demand, slots are limited so don’t delay.

Our first consultation is always free of charge.