Read the gaps

In this original fictional case, Ellis and Morgan plan to reduce work over the next two years. A draft summary says they want flexible income and to leave something to family. It includes an investment valuation and a risk questionnaire. Their regular spending, likely one-off costs, other dependable income and the timing of each income source are incomplete. No recommendation has been made.

Before comparing solutions, turn each broad objective into a question the couple can answer. What expenditure must continue? Which plans could change? Whose income starts when? What help to family is an intention rather than a firm commitment? Avoid filling gaps with an average household budget or assuming that a preference for flexibility answers the question of affordability.

FCA retirement income work highlights the particular needs of people drawing on assets. This workshop focuses on the quality of the reasoning process. It supplies no tax calculation, withdrawal rate or suitable product for the couple. The absence of these answers is deliberate: the available facts do not support them.