I read an article this week by the broadcaster John Humphreys who reported that researchers from the University of Washington had calculated that by the end of this century it would not be uncommon for people to reach the age of 120, ’Supercenturions’!  The rise in life expectancy has been progressive since the invention of penicillin by Alexander Flemming in the late 1920’s.  By then 1950’s average life expectancy in the USA had increased to 65 and today in the UK is 82 years of age.  Set against the current climate of UK CPI inflation at 7.9% and inflation likely to remain above the level which we have experienced over the past decade increasing life expectancy creates a financial planning conundrum.

Saving for retirement

We save during our working lives so that our retirement can be comfortable and perhaps  allow us to do the things we have never had time to do before, however the decision to retire is often clouded in uncertainty.  Many questions are raised; when can we retire, how much will we need to fund our retirement, how long will we need it for, we’d like to help our children out today when they need it, what about possible future care costs, will we run out of money in retirement!

Cashflow planning

With the increase in life expectancy these questions are compounded more and more.  In order to best manage this process WKM utilises an innovative cashflow planning strategy which takes account of your retirement objectives, models investment market volatility, and undoubtedly the single biggest economic factor, inflation.  We regularly review our cashflow projection with you and finesse them to reflect changes in your circumstances.  These are fed into our investment strategies to provide a tailored financial plan with integrated investment management.

One of our most difficult tasks we face is to convince clients that they can benefit from the fruits of their labour and live the retirement life they really want to. Retirement looks different for every client and one solution does not fit all.  Having the visibility of how capital and income are impacted over the longer due (we run our projection through to age 100), the ability to demonstrate changes interactively and provide access to these through our WKM App provides the reassurance to make retirement decisions.

Keeping control

Being in control of your finances is key to a happy retirement and we assist you with this through regular financial reviews, ensuring your plan is up to date, supported by innovative cashflow planning and integrated investment management. In this way we ensure you…

Enjoy the journey.