These are people who, despite potentially having a range of assets, investments, and high levels of income have no idea what financial future awaits them, or how close they are to achieving their 'number', that is, the amount they need to afford the rest of their lives.
Gary and Marie didn’t know where ‘there’ was. At the age of 55 Gary has a great pension and they have both paid off their mortgage. After years of working, they have began to think “how much longer are we going to be doing this?”
Taking into account their desire to take regular trips to Vegas, as well as putting money aside for their daughters, and potential grandchildren, we were able to understand their requirements for the future. Carrying out financial lifestyle planning then allowed us to identify the future value of their retirement bucket, using financial forecasting software to accurately predict how much they could expect to have year-on-year at retirement.
And, on conservative assumptions their bucket is just fine, and they already have enough to afford their future lifestyle - they just didn’t realise it. Gary is now planning to retire at age 60, with regular trips to Vegas possible up until 72.
If you think you could benefit from the financial lifestyle planning we carry out to help our clients prepare for their future...
... then please do get in touch with DAM for an initial no obligation/ cost meeting. We look forward to hearing from you.