Reached retirement age early this year

Assets Encompass look after £700,000

Background: Reached retirement age early this year. Married and they has two grown up children. Have been clients of mine for nearly 10 years now.

Client concerns: Had previously received advice from Barclays Bank, following the sale of his business, and was worried about the risk exposure of his investments. There was, in our eyes, cause for a complaint. Also, he was looking at his retirement age this year and how this was going to impact on his income draw and future lifestyle.

Results: The Lifestyle planning process clearly answered his major concerns about retirement, especially when considering different “what if” scenarios around investment return and interest rates. It also demonstrated how using capital (cash) in the short term could benefit the cashflow forecast longer term. This meant that they would have more money in their estate for longer, well beyond the point when they would both actuarially still be alive. It also gave Hugh more confidence in carrying on with unsecured pension rather than annuitizing some of the pension fund now.

Client feedback: “This has been a very productive exercise in dampening the concerns I had about the possibility of running out of money. It has also helped me in getting a much better handle on what retirement looks like for both of us. Thank you.”