Tim (60) and Jo (65) have been clients of FFA for the last 30 years.

Jo retired about 10 years ago and helps look after their grandkids whilst Tim still works.

They are both keen on Tim retiring soon, but don’t believe they’re prepared for the loss of his income.

They’ve never really had to budget, and are not sure they like the idea of doing so, but it is something that has been playing on their minds for some time.

Furthermore, they have been extra anxious because of recent market volatility which in their minds has further pushed out Tim’s retirement date, adding to ‘their’ belief that they don’t have enough funds to achieve that goal.

After our client review, I provided them with a budget template to complete as well as the ASFA quarterly retirement expenditure breakdown so they could compare their spending to that of other retirees in a similar situation.

With this new information, we updated their Retirement Projections which clearly showed they’d be able to achieve spending their desired level of income until well into their late 90s, which was a massive relief for them both.

When they came in for their follow-up meeting, they looked notably less anxious.

They couldn’t thank me enough for putting their minds at ease and told me that Tim will formally be retiring at the end of October, which they’re both excited about.