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CASE STUDY
Retirement Planning
CLIENT PROFILE - Retirement planning
James & Jenny are 65 and wish to understand their retirement options. They have savings and pensions assets of c. £360,000. Their home is valued at £700,000 and is too large for their requirements.
OBJECTIVES & QUESTIONS
The couple wish to be financially independent throughout retirement.
Q1) Will we be able to sustain ‘real terms’ expenditure of £3,000 pcm for our lifetimes?
Q2) If we were to downsize at age 65 and release £250,000 of capital what impact could this have on our plans?
BESPOKE PLANING
We helped James and Jenny visualise their financial future and assess sustainability:
Our analysis, based on agreed assumptions with no downsizing event, indicated that James and Jenny would be unlikely to support their desired lifestyle in retirement. Our analysis indicated that their savings and personal pensions would likely be exhausted in their late 80.
We showed James and Jenny how downsizing in 12 months’ time could improve the chances of them sustaining their desired lifestyle in retirement.
COMPLETE PLANNING
SYNTHESIS ADVISED IN THE FOLLOWING AREAS:
Retirement strategy | We ensured James and Jenny had a clear plan that enabled them to move forward with their retirement plans in confidence.
Tax efficient | We will work to ensure that their income is drawn tax efficiently and that any additional funds are invested tax efficiently where appropriate.
Risk tolerance | We reviewed James and Jenny’s risk tolerance and adjusted their current investment strategy to one more suitably aligned to their views and objectives.
INDEPENDENT & COST FOCUSED
INDEPENDENT ADVICE TO DELIVER COST SAVINGS
Our review indicated an appropriate pension and investment account that provided the required functionality at a very competitive cost.
INVESTMENTS
We ensured that all investments were aligned to James and Jenny’s risk profile.
CONNECTED
Solicitor | We introduced James and Jenny a firm of solicitors who were able to undertake the conveyancing for the property sale and purchase.
REVIEWED
We provided James and Jenny with an annual review to keep them in control and allow for adjustments.
RETIREMENT PLANNING
Other areas of planning we can help with
ESTATE PLANNING
YOUR ESTATE PLAN | We create plans that can help mitigate anticipated inheritance tax liabilities.
Estate planning can be complex and may result in the loss of control over assets. We will always ensure you fully understand the implications of any actions prior to implementing.
ABOUT THIS CASE STUDY & RISKS
ADVICE | The information which is summarised in this case study does not constitute financial advice and is general in nature. It does not account for your specific circumstances and should not be acted on prior to receiving formal advice from Synthesis Connected Wealth Ltd. If you were to act without receiving advice you risk entering into a strategy and/or product that may not be suitable for your needs.
TAX ADVICE | The Financial Conduct Authority does not regulate tax advice.
INVESTMENT RISK WARNINGS | All investments, which we may undertake on your behalf, are subject to a level of risk. The value of investments and the income derived from them is not guaranteed and can fall as well as rise.
FACTUAL ACCURACY | This case study is based on a fictitious client and has been constructed to provide an example of our planning techniques.