This allows us to make a more robust plan and discuss compromises with the client more easily. Desirable is what they would ideally like such as leisure activities and holidays.Essential income goals represent what a client would need each year to meet their basic standard of living (such as paying the bills, being able to eat, having a roof over their head etc…).With income goals, especially with retirement income as clients get closer to their retirement age, we normally split goals up into ‘Essential’ and ‘Desirable’. The goals would include both the amount of regular income to live on and any lump sums that you would want to maybe pay off such as your mortgage, travel, gift to your children for a house deposit etc. Can your goal be achieved in this timeframe?Ī retirement financial planning goal would be to cover what we agree to work towards for you and your family, to give you the retirement lifestyle you would like.What is the date or timeframe for your goal? e.g.However, we need something to work towards. Nothing ever stays constant, and it is likely that goals will change over time. Have we looked at addressing these first?.Have we identified your financial needs?.In many cases, the client may not be able to achieve everything, so this is where we prioritise with the client what is important.
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