Exit the rat race and enjoy a dream retirementApr 05, 2021
Tony Byrne: Managing director of Wealth & Tax Management.
YES, this is a very bold heading and many readers will not believe it is possible. But believe me, it is.
How do I know? It is because I have advised literally hundreds of people over the years, many of whom have retired early and enjoyed wonderful retirements. Many of them did not believe it was possible but I was able to persuade most of them that they could do it and lots of them did.
Why do most people not think it is possible? Well in my experience it is because they do not have a plan.
We work with clients annually. From the very start of our relationship, we put together a financial plan for each and every one of them known as a lifetime cash flow forecast using our Money Forecast software.
It is much like putting together a cash flow forecast for a business. The difference is that it is for an individual or a couple and it is designed for the rest of their lives. In fact, we put together forecasts to age 100.
We gather clients’ financial information in respect of what they own, what they owe, how much they earn and how much they spend. We produce a net worth statement, which is like a business balance sheet and an income and expenditure summary, similar to a business profit and loss account or a cash flow projection.
We make certain assumptions about interest rates, inflation, growth rates etc. All of our assumptions are conservative. We agree certain “what if” scenarios with clients. We then produce the plan. We update the plan in a face-to-face meeting with each client annually.
Such clients know exactly when they will retire, and they know they can afford it. This is why they achieve their retirement targets time and time again. It is also why many of them live dream retirements.
In my 30-plus years of advising clients, I have yet to find one who does nt enjoy retirement and that includes a number of clients who were dreading retirement beforehand.
To find out how to exit the rat race and enjoy your dream retirement why not benefit from a one-hour Discovery Meeting at our offices at our expense worth £470 to the first 5 readers who contact us before April 30 2021? You know it makes sense. We offer a great cup of coffee too! Ring us on 0800 980 4516, email email@example.com or visit www.wealthandtax.co.uk.
Tony Byrne is managing director of Wealth & Tax Management, a chartered and certified financial planner and chartered wealth manager. He is also the author of Wealth Magic.
The contents of this article are for information purposes only and do not constitute individual advice. All information contained in this article is based on our current understanding of taxation, legislation and regulations in the current tax year. Any levels and bases of and reliefs from taxation are subject to change. Tax treatment is based on individual circumstances and may be subject to change in the future.