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I was sitting enjoying a drink in a local bar in Barcelona with my husband on our third short break of the year and thinking how much I'd like to do this more often when I retire. The only thing that started to worry me was whether or not I will have sufficient income in retirement to enjoy such luxuries!

I have contributed into a pension for a number of years as well as trying to direct savings for retirement but would it be enough? Each year an annual projection arrives telling me what income I should expect to receive if the plan performs as predicted. But that figure is in today's terms, what will that buy me in 15 years’ time? For all I know a loaf of bread could be the cost of my weekly income by then, who knows!! I also hadn't thought about how much income we will need when we retire, will it be much more or less than we need at present? I keep a pretty good check on my in-goings and outgoings but both of them will change when I get to retirement age.

We have the experience, knowledge and software at FMB to calculate what the projected income would potentially be worth. Our software takes all the data we currently have and calculates what income I can expect in retirement and then confirms whether or not I will have a sufficient amount to afford the holidays and luxuries or not. As time goes by we review all that data and make any necessary changes to make sure the plan is still relevant. How good would it make me feel to know I am on track, and if I'm not, at least I have 15 years to do something about it, rather than leave it until it's too late.

Financial Planning is available for all of our FMB clients, I need to act, where's my Financial Planner I need them to work out my financial plan now!!

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