Pre-retirement counselling is one of the major milestones in the lifetime of a person. It is the time when all the money that a person has saved all his life and plans he/she has set aside have to begin to work. However many people do not give this even a thought. It requires a lot of planning and attention.
Retirement is not a destination. It is the beginning of a new journey. The best time to plan for retirement is 5 to 10 years before. Available pensions and investments need to be reviewed to make sure that the amount is good for retirement so as to meet the future needs.
The retirement planning report provides:
1. A complete analysis of the current position
2. It determines future income expectation and weighs them against the budget
3. Tax efficient investment is the best way to meet any kind of shortfall
4. Ensures that income is generated in the most efficient and tax effective manner
5. Equates investment portfolios to mission and vision
Details of pre-retirement counselling:
1. Initial discovery meeting: It explains the cost involved. The personal demands are understood. It assists you to identify the aims and priorities. It assists in projecting a budget for expenditure in retirement.
2. Strategy Report: Summarizes and prioritizes the objectives. Then research is done on the available options. An investment strategy is created taking account of the aims of the client. An appropriate portfolio is built.
3. A second meeting: It helps in explaining the strategy face to face to the client. It also answers all the queries of the client. It also explains the reason for choosing the particular strategy.
4. Implementation of the Strategy: Provides all possible necessary paperwork. The submission of paperwork is done and it is tracked. Then after tracking confirmation with finalization of strategy is done.