Retired Couple Client Case Study
Background
- Mr Retired aged 68 & Mrs retired aged 65
- Sold family business 6 years ago
- Two mature children, three grandchildren
- Assets:
- Home £600K
- Holiday Home £230K
- Investments £720K comprising
- Pensions £350K + Cash £50K + Investment Bonds £80K + shares £30K + Isas £95K + Unit trusts £115K
Challenges & Concerns
- Clients didn’t understand their pension options & had no clear strategy
- Disorganised & tax inefficient Investments
- Didn’t know how well or badly their investments were performing
- Concerned about Inheritance Tax whilst safeguarding their own financial future
- Outdated Wills / no Lasting Powers of Attorney
- Require net income of £45K pa to enjoy retirement
- Worried about the financial risks of potential long term care fees
What We Did
- Agreed & implemented a tailored risk adjusted investment portfolio
- Simplified & consolidated investmentsSecured their retirement income by incorporating investment risk free annuities
- Co-ordinated new tax efficient wills & Lasting Powers of Attorney
- Implemented a structured gifting strategy to resolve the Inheritance Tax liability
- Arranged 2 x long term care fees plans
- Devised an ongoing review programme to keep things in check
The Results
- For the first time the clients understood their financial position = Peace Of Mind
- Achieved the desired income stream
- Reduced investment risk & eliminated an Inheritance Tax liability in excess of £100K
- Peace of mind in the event that either &/or both require long term care
- The new simplified investment strategy improved performance AND reduced risk all at the same time