ASSESSING YOUR CURRENT AND PROJECTED WEALTH, INCOME AND EXPENSES

Retirement planning is of utmost importance, regardless of your income or wealth. It ensures a steady income stream after retirement and provides financial security for your and your loved ones.

Retirement cash flow modelling can provide numerous benefits to individuals seeking financial security and planning for the future. by assessing your current and project wealth, income, and expenses, retirement cash flow modelling can help you understand your current and potential future finances.

HERE ARE SOME KEY REASONS WHY RETIREMENT CASH FLOW PLANNING IS CRUCIAL:

Avoid running out of money: Planning helps you calculate the savings rate required to support your desired lifestyle during retirement, ensuing you don’t run out of money.

Setting retirement income goals: This involves determining your retirement income goals and identifying the necessary steps to achieve them. This allows you to plan for various financial sources and secure a comfortable retirement.

Creating a regular flow of income: A well-structured and regularly reviewed plan enables you to create a regular flow of income after retirement. This fixed income substitutes your pre-retirement salary, ensuring financial stability.

Strategic investment decisions: Retirement planning involves making strategic investments decisions to achieve specific saving goals. This helps in maximizing returns and growing your retirement fund over time.

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This article does not constitute tax or legal advice and should not be relied upon as such.

Tax treatment depends on the individual circumstances of each client and may be subject to change in the future. For guidance, seek professional advice.

A pension is a long-term investment not normally accessible until age 55 (57 from April 2028 unless plan has a protected pension age).

The value of your investments (and any income from them) can go down as well as up, which would have an impact on the level of pension benefits available. Your pension income could also be affected by the interest rates at the time your take your benefits.