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When can I retire? - news article image

When can I retire?

14 Jun 2022

3 minute read

Unlocking opportunity from uncertainty

Following on from my colleague Charlie’s article covering exit planning, it is clear that there are seismic shifts in the marketplace with a number of opportunities being seized off the back of the Covid pandemic. 

Just like planning the sale of your business should not be rushed, planning your retirement and life after work should not be a hurried process either. 

There are many different answers to the question of ‘How much is your business worth?’ because it really depends on how the question is framed: 

  • Is the value what you think it is worth in the open market?
  • Is the value what someone else thinks it is worth?
  • Perhaps the answer to the question lies in what it is worth to you? 

We always recommend getting a professional valuation and that is something our Corporate Finance team can help you with. 

With an indicative value for your business we can work with you to create your own Lifetime Cashflow Model and Retirement Plan and provide you with clarity as to what you and your family’s financial future might look like with a range of outcomes and options available to you. Armed with this model we can help you to understand how much money you need to live the lifestyle you wish for the rest of your life without the fear of ever running out of money. 

Just as forecasting can be important and provide valuable insight when planning for a successful exit from your business, it can be equally important for the same reasons when planning for a successful retirement. Creating a Lifetime Cashflow Model can help you answer some of the bigger questions such as: 

  • How much is your retirement lifestyle going to cost?
  • Once your income stops, what assets, pensions and savings do you have to support you?
  • What kind of financial legacy do you wish to leave? 
Working with a highly experienced and qualified Financial Planner at Shaw Gibbs, a Lifetime Cashflow Model will provide you with much greater clarity with a sense of clear direction too. It will allow your Financial Planner to stress test your retirement plan through a series of ‘What if’ scenarios to ensure your financial future and financial plan is as robust as it can be. 

Achieving financial security and peace of mind is a feeling and not a number, therefore it is individual to you. This can be achieved with some good planning which will in turn offer you significant peace of mind. Planning will allow you to be intentional and deliberate with your future financial decisions to ensure that your assets, pensions and savings are aligned to what is important to you and your family. 

What are the steps involved to create a Lifetime Cashflow Planning?

Firstly, we need to understand the cost of the life you would like to enjoy. We then need to understand all the sources of income and assets you have in order to fund your chosen lifestyle. We can then challenge the plan to test how robust it is and build in some ‘what if’ scenarios. 

We have produced a short video about Lifetime Cashflow Planning on our website to offer you a greater perspective of what this could do for you. 

Please get in touch with the Shaw Gibbs Financial Planning team to get some clarity on your financial future and we can work with you to answer the bigger questions and map out the range of possibilities through a detailed Lifetime Cashflow Plan

If we can help you feel financially secure to sleep well at night, all you need then to worry about what to do when you get up in the morning.
When can I retire? - news article image

Author:

Nick Hutchings

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