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Post retirement case study

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Dan Woodruff
Dan Woodruff

Case study on how we helped a retired executive who needed to work out whether he had enough put aside to continue with his lifestyle in retirement and also whether he could afford to purchase a property abroad. By creating a comprehensive financial plan we were able to show him that he had enough accumulated to afford to fund his lifestyle and buy the property. We also helped him to simplify his financial affairs.

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This gave the clients confidence that they had enough Case Study money put aside and enabled them to go ahead with the purchase of their holiday home. Post Retirement We then consolidated their existing assets both to take an income for retirement and also to make best use of the tax Planning advantages of certain investments. Following this we set up a portfolio to manage the risk of Summary: their investments while keeping on track towards their ultimate goals. A retired executive needed to work out whether he had enough put aside to continue with his lifestyle in retirement and also whether he could afford to Outcomes and Impact: purchase a property abroad. By creating a The clients had the confidence to go ahead with their comprehensive financial plan we were able to show him retirement plans safe in the knowledge that they were well that he had enough accumulated to afford to fund his provided for. lifestyle and buy the property. We also helped him to simplify his financial affairs. They were able to make sense of their current financial situation and also examine the impact of possible future Background: ventures. We were approached by a retired company executive We were also able to use the fact that the wife was a non who was about to leave employment and needed help tax payer to transfer some assets to her name and create to both manage his existing portfolio of assets and to an effective income free of tax for the first year. work out whether he had enough accumulated to continue with his desire lifestyle in retirement. Continuing Support: Problems/Challenges: Each year we schedule two reviews with the clients. The first is to re-evaluate their financial situation and revise The client needed to bring clarity to his financial affairs their financial plan so that we can take into account any as he had accumulated a wide variety of investments changes to their circumstances and re-assess whether during his working life. These were diverse and they remain on target to meet their long-term goals. reflected decisions made at various points in his life but were no longer an appropriate portfoliofor the new The second meeting reviews the clients’ investment chapter in his life. portfolio and aims to keep it on track towards its goals while taking the least risk needed to do so. He wanted to purchase a retirement property in Portugal and needed help with managing the funds towards this project. Please contact us Once these challenges had been addressed, he for further details: needed a plan to ensure that he would never run out of money and that his wife would be provided for should he pre-decease her. Woodruff Financial Planning The Colchester Centre, Hawkins Road, Colchester, Essex CO2 8JX. Our approach: Email: advice@woodruff-fp.co.uk Initially we sat down with the client and his wife to Fax: 01206 266885 establish their current position and understand their plans for the future. This gave us an opportunity to get Tel: 01206 266882 to grips with the wide range of investments held so that we could help rationalise them. www.woodruff-fp.co.uk Once we had got to know what motivated the clients, we were able to create a comprehensive financial plan. This analysed their current and future assets together with the income needed to maintain their high standard of living both in the UK and abroad. Principal: D Woodruff. Woodruff Financial Planning is Authorised and Regulated by the Financial Services Authority. This document is for information only, and does not constitute financial advice. This document is aimed at United Kingdom residents only. © Woodruff Financial Planning. No unauthorised reproduction is permitted without prior consent.

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Post retirement case study

  • 1. This gave the clients confidence that they had enough Case Study money put aside and enabled them to go ahead with the purchase of their holiday home. Post Retirement We then consolidated their existing assets both to take an income for retirement and also to make best use of the tax Planning advantages of certain investments. Following this we set up a portfolio to manage the risk of Summary: their investments while keeping on track towards their ultimate goals. A retired executive needed to work out whether he had enough put aside to continue with his lifestyle in retirement and also whether he could afford to Outcomes and Impact: purchase a property abroad. By creating a The clients had the confidence to go ahead with their comprehensive financial plan we were able to show him retirement plans safe in the knowledge that they were well that he had enough accumulated to afford to fund his provided for. lifestyle and buy the property. We also helped him to simplify his financial affairs. They were able to make sense of their current financial situation and also examine the impact of possible future Background: ventures. We were approached by a retired company executive We were also able to use the fact that the wife was a non who was about to leave employment and needed help tax payer to transfer some assets to her name and create to both manage his existing portfolio of assets and to an effective income free of tax for the first year. work out whether he had enough accumulated to continue with his desire lifestyle in retirement. Continuing Support: Problems/Challenges: Each year we schedule two reviews with the clients. The first is to re-evaluate their financial situation and revise The client needed to bring clarity to his financial affairs their financial plan so that we can take into account any as he had accumulated a wide variety of investments changes to their circumstances and re-assess whether during his working life. These were diverse and they remain on target to meet their long-term goals. reflected decisions made at various points in his life but were no longer an appropriate portfoliofor the new The second meeting reviews the clients’ investment chapter in his life. portfolio and aims to keep it on track towards its goals while taking the least risk needed to do so. He wanted to purchase a retirement property in Portugal and needed help with managing the funds towards this project. Please contact us Once these challenges had been addressed, he for further details: needed a plan to ensure that he would never run out of money and that his wife would be provided for should he pre-decease her. Woodruff Financial Planning The Colchester Centre, Hawkins Road, Colchester, Essex CO2 8JX. Our approach: Email: advice@woodruff-fp.co.uk Initially we sat down with the client and his wife to Fax: 01206 266885 establish their current position and understand their plans for the future. This gave us an opportunity to get Tel: 01206 266882 to grips with the wide range of investments held so that we could help rationalise them. www.woodruff-fp.co.uk Once we had got to know what motivated the clients, we were able to create a comprehensive financial plan. This analysed their current and future assets together with the income needed to maintain their high standard of living both in the UK and abroad. Principal: D Woodruff. Woodruff Financial Planning is Authorised and Regulated by the Financial Services Authority. This document is for information only, and does not constitute financial advice. This document is aimed at United Kingdom residents only. © Woodruff Financial Planning. No unauthorised reproduction is permitted without prior consent.