Case studies

Using the example profiles below we will guide you through using RetireEasy LifePlan.




1 Background 2 Charts 3 Solution Back to case studies


Background: Jackie Williams

Jackie Williams

Jackie signed up to RetireEasy as she was planning to fulfil her dream of a six month luxury worldwide cruise when she retired at her new State Pension Age of 63. Jackie has saved hard during her working life and had earmarked her personal pension lump sum to pay for the £20,000 cruise and wanted to know how this would affect her finances in retirement.

In this case study we show how the cruise affected Jackie’s finances and how a potential shortfall was avoided.

Age: 59
Retirement age: 63
Desired Income: £20,000, increasing in line with inflation

Assumptions:
    Inflation – 2.5%
    General Growth of Assets – 3%
    General Yield on Assets – 3%

Home Value: £350,000 – Growing at 0%
Mortgage: No mortgage

Private pension: Value today £100,000
    Growing at 6%
    Start age - 63
    25% tax free lump sum taken
    5% pa drawdown

Final salary pension: £5,000 pa from age 60

State Pension: £8,000 pa from age 66

ISA: Value today £30,000
    Growth and Yield as per General Assumptions

Bank Balance: Value today £15,000

 

Jackie Williams case sample 1 Next: sample 2 Jackie Williams case sample 2

What the LifePlan charts reveal:

Jackie Williams case sample 3 Jackie Williams case sample 4 Jackie Williams case sample 5

The solution

Jackie had a number of choices. She could reluctantly reduce the budget for her cruise but with the aid of her LifePlan she readily saw that by making a modest reduction in her inflated desired income at 73, the shortfall was deferred until her mid 90s. Jackie started making plans for her cruise comforted by the visualisation of her future finances that LifePlan brings.

Jackie Williams case sample 6


 

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Retire Easy Ltd.

RetireEasy is the UK’s only independent retirement planning tool. LifePlan gives you an overview of all of your assets – including investments, pensions, savings, business assets and properties – and the income you will receive after liabilities such as debts, mortgages and income tax. It is not just a snapshot, but shows you how your finances will evolve throughout your retirement.

Premium LifePlan not only provides live updates on stocks and fund values, provided by Morningstar, and you can model a Lifetime Mortgage, create and compare up to 3 scenarios of your financial future, radically reduce life insurance costs through a Life Assurance Premium Checker and you can print user-friendly narrative reports.

RetireEasy was established in 2011 and has helped thousands of users to understand their finances throughout retirement and adjust their plans to ensure that their money will last.

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