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Preparing Members For Retirement Emer Kirk About us Insert your - - PowerPoint PPT Presentation
Preparing Members For Retirement Emer Kirk About us Insert your - - PowerPoint PPT Presentation
Preparing Members For Retirement Emer Kirk About us Insert your logo here Holistic Retirement Planning Insert your logo here Determining the Income Requirement Clarity needed 3 5 Years from Retirement!! Insert your logo here Income
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About us
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Holistic Retirement Planning
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Determining the Income Requirement
Clarity needed 3 – 5 Years’ from Retirement!!
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Income Requirement – Gross v Net Income Replacement
Married couple one income
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Where is retirement income coming from?
- State Pension
- Income from personal assets, e.g. rental income, dividend income
- Private Pensions
– Defined Benefit Scheme – Defined Contribution Scheme
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A Structured Approach to Advising Members at Retirement
Hurdle rate – the investment return needed to replace the income foregone Member’s health Spouse’s pension – is there one and will it be sufficient?
Benefits from Defined Benefit Schemes
Flexibility of Income Estate Planning Market Falls, Income Falls
Benefits from Defined Contribution Schemes
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Cashflow Planning
- Detailed picture of income projections
- Gives context to help inform decisions
- Highlights retirement funding shortfalls
- Allows client map out different scenarios
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Understanding the Risks
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Longevity Risk
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Inflation Risk
€1,000 €1,360 June 2000 June 2020 4% Return 3% Inflation 1% Real Rate of Return
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Investment Risk
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In conclusion
- Ongoing Review - Retirement is 20+ years
- Ideal for members work with a financial planner – 3/5 years out from NRA
- Consistency & Continuity - Have a plan & stay on track
- Financial Planner will provide clarity, confidence & direction
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