Would you like to know what your future finances look like and how do they change if you make a particular financial decision now?
We can model this and show it to you in an easy to understand graphical format.
We start off by asking you to complete an online factfind. You can do this from the comfort of your couch and it will take around 15 minutes. We use this to show you a graph of your income and expenditure, your resources (pensions, savings, investments etc) and how they will change over time based on what you are doing now. Hopefully this will show you having sufficient resources to retire at your desired retirement age, and live comfortably in retirement.
We can then do a number of ‘what if’ scenarios based on the financial decision you are considering. If the graph changes to one which shows you running out of resources early, like in the above image, we can advise you how to rectify that and it will help you to understand the effects of the financial decision you are considering.
We have recently used this process to advise on the following;
– a client aged 50 asked us to advise her if she could retire at age 60 instead of age 65, and continue to live comfortably
– a client who was considering a career move which would attract a higher salary but which would involve the loss of his defined benefit pension asked us to assist him in making the decision
– a client who was considering relocating back to the city (higher salary, but higher housing cost) asked us to model the effect this would have on her finances
Most people are sold financial products based on a product driven process. The benefit of this approach is that it is driven by your personal and financial situation and your objectives. You may already have a product which can be used to help you fulfil your objectives and it could merely be a case of advising you how much to allocate to it and how to manage it.
If you would like us to show you what your finances look like in the future and how they will change if you take a certain course of action, contact us on 01 546 1100, by using the contact form below, or by email to [email protected]
The material and information contained on this website is for general information purposes only. Neither the writer nor Highfield Financial Planning Ltd makes any warranty as to the completeness, accuracy or reliability of the information or the suitability or availability of products or services, referred to on the website, for any purpose. You should not rely on any information contained on this website as a basis for making any financial, legal, taxation or other decision.
© Highfield Financial Planning 8 August 2019