Retirement Planning using cashflow modelling
Imagine the following:
- you are reaching retirement age (say 63) and have worked for the NHS, so you have their personal pension
- you will also be entitled to the state pension
- you are looking to retire next month
- you estimate you need £16,000 per year after tax to meet your basic expenses.
Is this all you need to think about? Definitely not. Retirement Planning goes much further than this…
- you have a £25,000 mortgage that you want to pay off now
- you also want to enjoy early retirement so would like £6,000 per year for holidays, club memberships and fun while you are still healthy
You can view the above scenario mapped out in the image above. The income needs are represented by the black line. The blue and red bars represent the state pension and personal NHS pension.
Filling the gap with Retirement Planning
With our retirement planning model you can see the state pension and your personal pension will meet your income needs from age 70 onwards. However, to enjoy your retirement the way you want to you will have a significant income gap in your early years of retirement that needs to be filled.
ES Walton offer all types of Retirement Planning using intelligent cashflow modelling. We will look at all options available to you and we can do this in our initial meeting. The more time we have with you, the more we can do for you to ensure that your investments are structured in the most tax efficient way and will produce the income that you need to support the lifestyle that you want to have. This is how we address, and fill, the income gap.
Contact us now to see how our Retirement Planning can help you do more with what you have.Contact Us