YOUR STORIES

Can I retire?

Assets Encompass look after £500,000

Background: client of 10 years, 59 years old Dr, married with 2 teenage children going through private education.

Client concerns: Really concerned about when he would be able to retire? At what age? Could he go before age 65? What would their Lifestyle be like? Had concerns about continuing to pay for their childrens education and ultimately could they afford to but a retirement home in France?

Results: Having gone through the Lifestyle Financial Planning process, all of the above concerns were addressed. He can now clearly see that retiring at 63 is an absolute certainty, so earlier than the planned 65. In fact 61 or 62 are possibles as well. They can also see with the Cashflow Forecasting that is used during the Lifestyle Planning process that there will be a significant sum of money leftover to allow them to do the other things they wanted to do, including wedding and house deposit funding gifts for their 2 sons.

Client feedback: "We feel relieved, have got peace of mind about the future and can go to work happy in the knowledge I can leave on my own terms knowing everything will be ok for us financially and we can move forward with our planned property purchase in France".


Business Sale

Assets Encompass look after £250,000

Background: 46 & 40 yr old local business owners with 2 children, with a business worth circa £900,000, They have a main residence plus a holiday residence abroad.
 
Client concerns: The client was really keen to know when they can sell the business and retire without it affecting their desired lifestyle, and wanted to see if they could buy a second holiday home in Bournemouth.

Results: We provided very clear guidance on when the business could be sold, with clarity on this, we then also spent some time on different scenarios to see what they could afford regarding the holiday home in Bournemouth and when this would be paid off. With a holiday home subsequently purchased.

Client feedback: "Excellent to know when we can plan to sell the business, we didnt want to have to work beyond age 55 so knowing this is absolutely fantastic news. Lifestyle gave us the information and the confidence to go ahead with our planned property purchase in Bournemouth earlier than planned".


Cashflow for Private Care

Pending Personal Injury award circa £5,000,000

The Immediate requirement was a Cash flow forecast that would take account of private care costs / income inflation and special needs of the client up to and beyond retirement for a severely handicapped individual currently in local authority care.

A substantial injury award was granted by the court of protection the objective being to fund private care for the remainder of his life expectancy. Cash flow forecasting software enabled us to build confidence in the clients legal representatives by being able to demonstrate a technical awareness of what was required in reaching assumptions of when, if at all, the lawyer would have to return to the courts because the trust had run out of money. This could result in his legal representatives returning to court for more money or the worst case scenario being that he would have to return to local authority care.

Lifestyle Financial Planning changed the mindset of the lawyer who believed our role would simply involve indentifying where to invest the proceeds of the award.


Wants to retire asap

(Assets Encompass look after £250,000)

Background: 61 yr old Administrator at local hospital, with no family to speak of.

Client concerns: She wants to retire asap, probably at age 62 but possibly earlier but really has no idea what her financial situation would be like, she had no idea of the relationship between her assets and her desired lifestyle and it was really bothering her. Kinder questions indicated a strong desire to visit her brother in Canada by sailing on the Queen Mary and take a world cruise, but absolutely didn't think this was possible.

Results: Our lifestyle planning process clearly answered her major concern regarding retirement, she could retire immediately if she so wished, we showed her current position using cashflow forecasting with which she was delighted. We then looked at another scenario including the cost of the Queen Mary trip and the world cruise. We did some research and printed this off and used this as part of the presentation.

Client feedback: "Michael, this is just amazing, I am so happy and relieved with what you have shown me today, thank you so much, that is amazing".