Can I Afford to Retire?
Bill came to us as he was nearing State Pension age but was still unsure what income he was likely to have once he retired and whether this would be enough, or if he would still need to work as a part time driver.
Bill had a number of pensions from previous employers, including one with a valuable guaranteed annuity rate, as well as some cash deposits and a few other investments he’d picked up over the course of his working life.
We reviewed all the plans that he held, consolidating some of the pensions and utilising the guaranteed 10% annuity rate, which along with the State Pension and some rental income now forms the bulk of Bill’s essential income. We also drew up a Lifetime Cash-Flow Forecast, to demonstrate that his income should remain sufficient until he turns 100, and on top of this, he has other investments which he can draw from to pay for the fun things he plans to do through his retirement, or if he has to pay for care home fees in the future.