hands

self
Countdown
to
retirement
As people near retirement,
they often seek reassurance
that their finances are going
to provide the lifestyle they
want. How can they prepare
their finances?
Phil: a case study
Meet our customer Phil.
He is a 62-year-old
accountant who now runs
his own business. He lives
with his wife Angela in Hertfordshire.
Phil hopes to stop working in the next
few years, so he decided to meet with
a Tilney financial planner to review his
finances and check that he will have
enough money for retirement.
Before the meeting
Preparation is important. So before going along to the meeting,
Phil filled out two spreadsheets.
1. The first included all of the couple’s
assets, savings and liabilities:
• Pensions and investments
• ISAs and other savings accounts
• Mortgages
• Phil’s business account.
The financial planner also contacted
Phil’s other investment providers for
up-to-date account valuations.
2. The second spreadsheet
included all the couple’s current
and future outgoings:
• Current pension contributions
• Outstanding mortgage
• Regular expenses they expected
for retirement
• All other planned expenses such
as a new car and yearly holiday.
16 magazine | Issue 47 | hwca.com