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Pre-retirement case study

Dan Woodruff
Dan Woodruff

Case study on how we helped a couple to work out whether they could retire early based on their accumulated pensions and savings. We did this by developing comprehensive financial plan based around their resources now and into the future, taking as little risk as possible.

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As part of this, we assessed their existing assets including Case Study their pensions and agreed a strategy to manage the risks of these investments in order to achieve long-term goals. Pre-Retirement Outcomes and Impact: Planning We were able to demonstrate to the clients that they could retire now and still achieve the future lifestyle that they wanted while taking minimum risks. Summary: We were able to assess different scenarios such as how We helped a couple to work out whether they could their situation would change if they retired at different retire early based on their accumulated pensions and ages. Overall this gave them the confidence that they savings. We did this by developing comprehensive could afford to retire whenever they chose to do so. financial plan based around their resources now and into the future, taking as little risk as possible. Despite this they decided not to retire immediately and instead preferred to accumulate further assets for the next Background: few years. A couple in their late fifties were referred to us by a local accountant. They were investigating whether they Continuing Support: could afford to retire in the next few years. They had Each year we schedule two reviews with the clients. The accumulated a number of different savings pots over first is to re-evaluate their financial situation and revise the years and each also had various pensions. their financial plan so that we can take into account any changes to their circumstances and re-assess whether Problems/Challenges: they remain on target to meet their long-term goals. Although they had significant accumulated assets they The second meeting reviews the clients investment were unsure as to whether this would be enough to portfolio and aims to keep it on track towards its goals safeguard their desired future lifestyle. while taking the least risk needed to do so. They also wanted to know whether they could afford to retire early and if so, how this might affect their lifestyle. Please contact us They were also concerned that their employment pensions may be reduced due to the state of the for further details: economy. Finally they wanted to reduce risk as much as possible Woodruff Financial Planning since they would not be accumulating significant further The Colchester Centre, Hawkins Road, assets. Colchester, Essex CO2 8JX. Email: advice@woodruff-fp.co.uk Fax: 01206 266885 Our approach: Initially we met with the clients to produce a financial life Tel: 01206 266882 plan so that we could get to know them and work out a future direction for their finances. In this meeting we www.woodruff-fp.co.uk established that they would ideally like to retire within the next 2 years and at worst at 65. Following this we produced their financial plan by gathering all the information we needed on their present income and outgoings, assets and liabilities. We then made assumptions as to how these would change over time based on a realistic assessment of their circumstances and how their goals would affect these areas. This enabled us to look into the future and work out whether they would remain on track to hit their goals. 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. 息 Woodruff Financial Planning. No unauthorised reproduction is permitted without prior consent.

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Pre-retirement case study

  • 1. As part of this, we assessed their existing assets including Case Study their pensions and agreed a strategy to manage the risks of these investments in order to achieve long-term goals. Pre-Retirement Outcomes and Impact: Planning We were able to demonstrate to the clients that they could retire now and still achieve the future lifestyle that they wanted while taking minimum risks. Summary: We were able to assess different scenarios such as how We helped a couple to work out whether they could their situation would change if they retired at different retire early based on their accumulated pensions and ages. Overall this gave them the confidence that they savings. We did this by developing comprehensive could afford to retire whenever they chose to do so. financial plan based around their resources now and into the future, taking as little risk as possible. Despite this they decided not to retire immediately and instead preferred to accumulate further assets for the next Background: few years. A couple in their late fifties were referred to us by a local accountant. They were investigating whether they Continuing Support: could afford to retire in the next few years. They had Each year we schedule two reviews with the clients. The accumulated a number of different savings pots over first is to re-evaluate their financial situation and revise the years and each also had various pensions. their financial plan so that we can take into account any changes to their circumstances and re-assess whether Problems/Challenges: they remain on target to meet their long-term goals. Although they had significant accumulated assets they The second meeting reviews the clients investment were unsure as to whether this would be enough to portfolio and aims to keep it on track towards its goals safeguard their desired future lifestyle. while taking the least risk needed to do so. They also wanted to know whether they could afford to retire early and if so, how this might affect their lifestyle. Please contact us They were also concerned that their employment pensions may be reduced due to the state of the for further details: economy. Finally they wanted to reduce risk as much as possible Woodruff Financial Planning since they would not be accumulating significant further The Colchester Centre, Hawkins Road, assets. Colchester, Essex CO2 8JX. Email: advice@woodruff-fp.co.uk Fax: 01206 266885 Our approach: Initially we met with the clients to produce a financial life Tel: 01206 266882 plan so that we could get to know them and work out a future direction for their finances. In this meeting we www.woodruff-fp.co.uk established that they would ideally like to retire within the next 2 years and at worst at 65. Following this we produced their financial plan by gathering all the information we needed on their present income and outgoings, assets and liabilities. We then made assumptions as to how these would change over time based on a realistic assessment of their circumstances and how their goals would affect these areas. This enabled us to look into the future and work out whether they would remain on track to hit their goals. 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. 息 Woodruff Financial Planning. No unauthorised reproduction is permitted without prior consent.