Financial Freedom Planning

The Challenges

Fifty-six year old Steve and fifty-three year old Sue came to us looking to see whether they could afford to retire.

Steve had just accepted voluntary redundancy after working for his company for over 30 years, and Sue was keen to give up her part time job.

Steve and Sue wanted to ensure that they had enough money to enjoy the rest of their lives together. They wanted to increase the amount of cruises they enjoy, pay off the mortgage on the house and ensure that they could enjoy the grandchildren.

Steve and Sue have worked hard all their lives to accumulate some assets and they wanted to ensure that the assets could be protected for their children and grandchildren.

The Outcome

Steve and Sue became Financially Free knowing that they do not need to work, unless they want to.

Steve and Sue were able to pay off their residential mortgage, and are now debt free.

The combination of their Will and Trust planning ensures that their assets will be passed to the children tax free, as well as ensuring that other third parties do not have any claims on their funds.

Steve and Sue are able to enjoy their Financial Freedom without worrying about money, so they can get on with enjoying their leisure time and cruises without any financial concerns.

How Penguin made a difference

We took time to discuss all the options available to them with the various pots they had accumulated.

We helped Steve and Sue calculate what income they would need to support the life they desired, and how much capital they would need for the additional cruises and such like.

We formulated and implemented a plan to ensure that they received the maximum tax free lump sums they were entitled to, and ensured, and continue to ensure that their income is paid to them in a tax efficient manner.

We put some specialist tax and trust planning in place to ensure that their money can only end up with their children/grandchildren and no one else.

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