We’re on the home straight in this season now, and today, we’re talking about the decisions we need to make at the point of retirement. It’s probably the biggest transition of all in our financial lives, so this is an important episode.

Season 25 – Finance OS

1. Introduction
2. Budgeting
3. Emergency fund
4. Pension enrolment
5. Paying off expensive debts
6. Completing the foundation of insurance
7. Goals – Part 1
8. Goals – Part 2
9. Taking stock and reviewing
10. Approaching retirement
11. At retirement
12. The Danger Zone
    
    Everything You Need To KNOW
    1. What is the Danger Zone?
       • Spending is generally highest, earlier in retirement.
       • Money spent earlier cannot compound for the future.
       • Sequence of returns risk especially important early on, though it applies throughout.
    2. Perfect balance is impossible.
       
    3. Any plan needs to be flexible.
       • Health changes – people get sick earlier than they expect.
       • Relationships change – divorce rates in retirement are skyrocketing.
       • Family situations change – your kids may need help, you may need to step in with childcare more or less than planned.

    Everything You Need To DO

    1. Identify the gap between income and outgoings.
    2. Optimise for tax first.
       • Pensions up to the personal allowance.
       • Unwrapped asset sales to use CGT AEA (if there are any)
       • ISAs
    3. Then invest in the right way.
       • Imminent: 1-2 years = cash
       • Short: 3-5 years = Risk -1 level
       • Medium: 6-10 years = Risk
       • Long: 11+ years = Risk +1 level
    4. Consider more than one platform.
    5. Review as needed, and at least annually.
13. Retirement reviews
14. Later life
15. Question and answer session

At the end of the season we’d like to tie things off with a Q&A session, answering the key questions that you ask throughout. hello@meaningfulmoney.tv SUBJECT LINE: Season 25 Question or similar. We’ll sort them and try to answer as many as we can, but likely we’ll pull out themes and deal with them. If the outline we’ve gone over today raises any questions, get them in now – we can also answer them as we go along. If we get tons of Qs we can always do two Q&A sessions.

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