Phoenix Group’s Post

𝐃𝐚𝐧𝐠𝐞𝐫, 𝐝𝐚𝐧𝐠𝐞𝐫… 𝐈𝐬 𝐥𝐢𝐯𝐢𝐧𝐠 𝐭𝐨𝐨 𝐥𝐨𝐧𝐠 𝐚 𝐰𝐨𝐫𝐫𝐲 𝐟𝐨𝐫 𝐲𝐨𝐮𝐫 𝐫𝐞𝐭𝐢𝐫𝐞𝐦𝐞𝐧𝐭 𝐩𝐥𝐚𝐧? Another day, another article in the press perked our attention, “𝘓𝘰𝘯𝘨𝘦𝘷𝘪𝘵𝘺 𝘤𝘢𝘶𝘴𝘦𝘴 𝘸𝘦𝘢𝘭𝘵𝘩 𝘮𝘢𝘯𝘢𝘨𝘦𝘳𝘴 𝘵𝘰 𝘢𝘭𝘭𝘰𝘤𝘢𝘵𝘦 𝘮𝘰𝘳𝘦 𝘵𝘰 𝘨𝘳𝘰𝘸𝘵𝘩 𝘢𝘴𝘴𝘦𝘵𝘴”, Financial Times, 19 April 2024. 📰 The article suggests that wealth managers are having to think long and hard about longevity risk. 🤔 Now, we were surprised that this seemed like a surprise to wealth managers advising retirees, but that aside let’s revisit this to examine whether living too long is a worry for your retirement plan. 🔬 To do this we introduce another of our lovely client couples, Ian and Janet who are planning to retire next year. We aimed to answer the following two questions: 1️⃣ How much they can spend in retirement? 2️⃣ How does increasing life expectancy impact this? Our analysis provided the following conclusion: We find that once state pensions are included and an assumption that Ian and Janet's retirement spending slowly reduces over time (in real terms), extending the plan by a decade doesn't dramatically reduce how much they are able to spend (<5% reduction). It also emphasises the importance of periodically revisiting the plan—this analysis may yield very different outcomes when Ian and Janet are in their 80s. Links in the comments below

I often hear the question, 'What is my number?' and respond, 'Great question; it depends.' For example, it depends on what you spend today, how much you have saved, how much you are saving now and plan to save in the future, how your portfolio is invested and how much fixed income you will have available in retirement to help meet your retirement spending needs."

📈 Retirement planning involves more than just investments. Jason Heath's article in the Financial Post delves into various income sources to enhance your financial security. Ensure a comfortable future by understanding all your options. Read more: ➡️ https://lnkd.in/gFAJN7uM #RetirementPlanning #FinancialAdvice #AdviceOnlyFinancialPlanning #ObjectiveFinancialPartners

How much do you need to retire? The answer depends on many factors including when you want to retire, how much you can comfortably put away, and the lifestyle you envision for your retirement years. One of our Financial Advisers, Steve James, explores some practical considerations and highlights the critical role your pension has in securing your financial future. https://lnkd.in/e5dS6xa9 #RetirementPlanning #Financialplanning #financialplanner Steven James

According to a recent poll conducted by Prudential in partnership with OnePoll, it was found that while 70% of Americans plan to retire, they are not sure they will be able to. Of the surveyed participants, 40% of Americans who said they are not confident they can retire state a lack of savings is the cause. Read on as Prudential’s Brad Hearn elaborates on these findings and how Prudential may be able to help you plan your financial future and keep your retirement plans on track.

According to a recent poll conducted by Prudential in partnership with OnePoll, it was found that while 70% of Americans plan to retire, they are not sure they will be able to. Of the surveyed participants, 40% of Americans who said they are not confident they can retire state a lack of savings is the cause. Read on as Prudential’s Brad Hearn elaborates on these findings and how Prudential may be able to help you plan your financial future and keep your retirement plans on track.

According to a recent poll conducted by Prudential in partnership with OnePoll, it was found that while 70% of Americans plan to retire, they are not sure they will be able to. Of the surveyed participants, 40% of Americans who said they are not confident they can retire state a lack of savings is the cause. Read on as Prudential’s Brad Hearn elaborates on these findings and how Prudential may be able to help you plan your financial future and keep your retirement plans on track.

According to a recent poll conducted by Prudential in partnership with OnePoll, it was found that while 70% of Americans plan to retire, they are not sure they will be able to. Of the surveyed participants, 40% of Americans who said they are not confident they can retire state a lack of savings is the cause. Read on as Prudential’s Brad Hearn elaborates on these findings and how Prudential may be able to help you plan your financial future and keep your retirement plans on track.

According to a recent poll conducted by Prudential in partnership with OnePoll, it was found that while 70% of Americans plan to retire, they are not sure they will be able to. Of the surveyed participants, 40% of Americans who said they are not confident they can retire state a lack of savings is the cause. Read on as Prudential’s Brad Hearn elaborates on these findings and how Prudential may be able to help you plan your financial future and keep your retirement plans on track.

According to a recent poll conducted by Prudential in partnership with OnePoll, it was found that while 70% of Americans plan to retire, they are not sure they will be able to. Of the surveyed participants, 40% of Americans who said they are not confident they can retire state a lack of savings is the cause. Read on as Prudential’s Brad Hearn elaborates on these findings and how Prudential may be able to help you plan your financial future and keep your retirement plans on track.