Jim (not his real name), had been referred to us by one of our clients. “Don’t talk to me about pensions I hate them,” was how he greeted us as we walked into his office. We immediately responded with, “As a business owner you have many methods of providing income in retirement more efficiently and effectively; in fact in certain circumstances a pension might be the last thing you would need.” He calmed down and a meaningful discussion began.
Jim’s concerns and other issues we identified:
We talked with Jim at length and gained a full understanding of his financial circumstances and those of his business. We then went away and ran some cashflow projections on various investment and income generation scenarios and, have discussed these with Jim and agreed a way forward, we:
The results so far – Jim now:
Please note that although this story is based on a real client, we have changed their name and aspects of their personal information to protect their privacy and identity.
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