Can We Afford To Retire? | A Case Study (Financial Adviser)

I explore a case study, based upon clients I have advised (names and some key details changed for privacy), looking at whether Tom & Leanne can afford to retire once Tom reaches age 60.

They are in the run up to retirement and have plenty of plans for life beyond working. The question is, with the assets they've built up, are they on track to retire at 60? Do any actions need to be taken now, and how likely is it that they won't run out of money during their retirement?

I use the cash flow modelling software (Voyant) that I work with in my day job to help illustrate financial planning with this case study. Hopefully it helps in illustrating the power of lifestyle financial planning, and gives you some food for thought when it comes to your own retirement.

I am a regulated independent financial adviser and Chartered Financial Planner based in the UK, actively advising clients.

Chapters:
00:00 - Intro
00:33 - Introducing Tom & Leanne
04:14 - First Draft Financial Plan
07:50 - Levers/Options To Adapt
11:20 - Closing Thoughts

Disclaimer: This video is for guidance and entertainment purposes only and should not be seen as financial advice. Any opinions presented are my own and not representative of any firm. Investment values can fall as well as rise and past performance is not necessarily a guide to future performance. Your capital is at risk when you invest and you can get back less than originally invested. A wide range of assumptions go into any cash flow forecast and the figures are illustrative only (not guaranteed). Taxation/legislation is subject to change. I am not affiliated with Voyant although I do use the software (software not available direct to public). Always seek personalised advice tailored to your own circumstances and objectives.

[RetroCrazyUK]

best video i have seen of this scenario, good examples (though they got a lot more capital then me...) as very relatable and nice simple easily understood way to break down the expenses. Thankyou, gives me lots of things to think about

[neilhopkins-dlvm]

Great overview and well presented. Case study examples are so powerful for the viewer. Thanks

[grahambell]

Very informative video Andrew, clearly explained with a real working example. Thanks for sharing with your suscribers 👏

[laurie]

I think this video clearly illustrates the value in consulting a financial planner. The expertise they have and the software they use enable multiple personalised retirement scenarios to be investigated. This makes the decision process so much simpler for the client. And as he says, plans can and should be reviewed, so they’re not set in stone.

[JohnBeeblebrox]

No mention of annuities, perhaps as part of a hybrid strategy with drawdown/UFPLS (esp. RPI, LPI or 3%/5%increasing).
Rates at the moment are highest in something like 14yrs (although slowly falling).

[marton]

Wow. If these two cant afford to retire tben most of us are screwed.

[stevebaxter-me]

well done Andrew. Easy to listen to and to absorb information. Can you send your email address so I can contact you. Thanks