Retirement Planning Case Study

Mr Smith approached WR Financial Management in 2010 to discuss retirement planning as he wanted to make possible, his goal to retire at age 60.

As a background Mr Smith is a director of a company earning a salary in the region of £50,000 and his wife, Mrs Smith, works part time as an administrator on an annual salary of £10,000. They also have a 10 year old son.

It was clear from initial planning that Mr Smith would run out of money at age 72 assuming his preferred lifestyle in retirement.

mmmmmmmmmmmmmmmm Following a full review of his options, including downsizing at age 60, increasing his pension contributions and a reduction in his current outgoings we were able to produce a plan that will ensure Mr Smith will have more than enough money to fund the retirement he requires.

The chart now has no traces of red, meaning Mr and Mrs Smith will not run out of money.

This case study is an example only and should not be viewed as individual advice.You should contact us to discuss your personal situation.