We were approached by Ruth, for some end of career financial advice to help her achieve the retirement she wanted.
What was her situation?
Ruth was divorced and had one daughter, Julie, who lived in England. Like many medical professionals, Ruth simply didn’t have time to think about her finances. As a result, she had no cohesive summary of her finances or work related financial benefits.
She had many questions that she simply couldn’t answer, such as whether or not she could retire comfortably now, or whether her investment portfolio was fit for purpose or not.
She also didn’t know if her estate would be taxed on death, or whether there was a strategy she could adopt to avoid this?
As a result, she was worried that she had no cohesive plan to help her reach the financial future she wanted.
How Fairstone NI helped
We met with Ruth at our offices and carefully assessed her current financial situation, providing information about the NHS benefits she could anticipate receiving.
We worked with her to create a plan, clarifying what she wanted to achieve and by when, as well as how much would be required to fund the process.
We also explored the tax strategies in relation to her estate and discussed and established her risk profile, whilst assessing how this related to her current Investment Portfolio.
To help create an effective financial plan, we discussed at length what Ruth felt was enough income to provide a contented retirement.
After much planning, Ruth was delighted to learn that she could retire now, three years earlier than she thought possible, safe in the knowledge that it will not have a major impact on her standard of living.
Ruth is now free to visit her daughter more frequently in England, look after her elderly parents and spend more time indulging in her passion of deep sea diving.
Her Investment Portfolio now matches her risk profile and will be used to achieve the fulfilling retirement she deserves.
We meet with Ruth regularly to review her situation, and to check on progress towards her aspirations.
Get in touch
To find out more about how our financial advisers can help you to achieve your financial objectives – be it to help with end of career financial advice or otherwise – don’t hesitate to get in touch for an informal discussion with one of our team.