This involves gaining an understanding of your current financial situation, needs, objectives and tolerance for risk.
We establish:
- What you have – the capital and assets you have and the amount you save.
- What you need – the income required in retirement determines how much capital is needed.
- Financial objectives – your proposed retirement date. Retiring later allows your funds to grow for longer.
- The level of risk you need to take – the return required to achieve your objectives. The higher the return, the higher the risk.
- The risk you are comfortable with – the risk associated with the recommended portfolio, balanced with the amount of risk you are comfortable to take.
- The legacy you wish to leave to heirs – your views about inheritance, charities, future financial dependence on others, etc.