For peace of mind he also wanted to make sure he could afford care home fees in the future, and ensure Angela would be financially comfortable if he died unexpectedly. For example, could he stop working this year or take more holidays during retirement. Phil was keen to run through different scenarios. They could live to 100 and still leave an inheritance to their children. The results showed that they had saved more than enough money for the retirement that they wanted. Phil’s financial planner had analysed these details using the cashflow modelling software. He also listed their current and future outgoings such as pension contributions, the regular expenses they expected for retirement and other planned expenses like a new car and annual holiday. Before the meetingīefore attending the meeting Phil filled out a spreadsheet with all of the couple’s assets, savings and liabilities – for example their pensions and investments, mortgages and Phil’s business account. He wants to stop working in the next few years and decided to meet with a Tilney financial planner to check that he would have enough money for the retirement he wanted. He lives with his wife Angela in Hertfordshire. Phil is a 62-year old who runs his own business. An example – will I have enough money in retirement?*
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