LouLouBelle
Registered User
- Messages
- 10
My dad found out that the company that he has worked for, for 30 years will close in one year. He has been offered early retirement. He is 59. The company had said that they would be providing assistance to employees to help them organise and prepare their finances for the closing but this turned out to be basically getting a sales pitch from a pension provider. My dad is not great with understanding the finances and I would like to help him but I am also a bit out of my depth. My question is; what should he be doing right now? He has difficulty understanding the documentation that has been provided to him which states what he is being offered. Should the first stop be seeing a financial advisor? He really needs someone who is going to spell out exactly what he is getting. Where the best place is to have the money etc. He has a pension and I understand that it is currently in a medium risk portfolio. Given his age, should this now be moved to a low risk portfolio? I understand that he will also be getting a lump sum from the company...again need to figure out what to do with this...I am basically at a loss as to where to start. He has asked for my help. What questions do I need to be asking and where should be our first port of call?