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Brett Investment: BettrLife - pensions and investments

Bucket Case No. 3

Retired and worried about spending too much

Bucket Case No. 3: Retired and worried about spending too much

Bob and Alice Can-We-Spend-It had been retired for a couple of years. They had always dreamt of retirement and the things they’d do together and the places they would see.

The trouble was, they were worried about spending too much, too early, and not having enough for the future.

Bob and Alice enjoyed retirement but when it came to the big ticket items such as having that extra holiday in the sun, staying in a better hotel, taking the family away on holiday they somehow held back.

Although deep down they knew that they were financially comfortable, they had this nagging doubt about running out of money later in life.

Like many people, they had scrimped and saved to give themselves a comfortable retirement. They owned their own home, had an investment property worth £300,000 and pensions/investments/savings of £450,000. All in all a tidy sum but still Bob and Alice were concerned they didn’t have enough.

This is what we did…

Sitting down with them, we were able to establish how much the life of their dreams would actually cost. Then, using our BettrPlanning approach and our powerful financial planning software (The Bucket), we were able to identify how much capital they needed.

It turns out that it is a lot less than they thought.

In fact, based on prudent assumptions and allowing for inflation and the potential cost of future nursing care, Bob and Alice were never going to run out of money.

Already Bob and Alice have a big family trip organised for the whole family.

They meet annually with us to make sure everything stays on track.

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Bucket Case No. 1

Happily retired and comfortably off

John and Jane Well-Off were retired and although instinctively they knew they had more than enough income and assets to support their own life, they also knew that a large part of their estate would end up with the taxman.

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Bucket Case No. 2

Business owner who wanted out

Michael Confused owned his own business, but quite frankly he had had enough. Work was no longer enjoyable and Linda, his wife, was about to retire, so he wanted to know if he could too.

The trouble was that although he had various investments and pensions, as well as a business to sell, he didn’t know if it was going to be enough for him and his wife to lead the kind of retirement they had always envisaged.

Essentially what he wanted to know was how big his bucket needed to be.

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