All the individual pieces, pensions, tax, risks, health, inheritance, must now come together into a coherent, personalised plan.
1. The Framework
- Income Sources
State Pension, DB pensions, DC/ARFs, savings, property, part-time work.
- Expenditure Needs
Separate essentials vs discretionary spending.
- Risk Management
Longevity, inflation, market downturns, healthcare shocks.
- Tax Strategy
Lump sums, income splitting, gradual withdrawals, credits.
- Estate Planning
Gifting, dwelling exemptions, wills, Section 72 policies.
- Lifestyle Goals
Travel, hobbies, volunteering, family commitments.
Case Study – Claire & David
Claire (63) and David (64):
- Income: State Pension €30,000 (combined), ARF €20,000, rental income €12,000.
- Expenditure: Essentials €40,000, discretionary €15,000.
- Plan: ARF used for discretionary income, property hedges inflation. Begin annual gifting to reduce CAT exposure. Lifestyle focus on travel and volunteering.
Outcome: Essentials are secure, risks are managed, and lifestyle goals are achievable.
Key Takeaway
A retirement plan is not just a budget. It is a living roadmap that integrates money, tax, risks, estate, and purpose.
Your Retirement, Your Future
Retirement is the beginning of a new chapter. With the right planning, you can:
- Secure your essentials with guaranteed income.
- Build flexibility with ARFs and savings.
- Optimise tax to keep more of your money.
- Protect your family through estate planning.
- Live with purpose by focusing on health, lifestyle, and connections.
Retirement Checklist
Do I know my income sources?
Have I separated essentials vs discretionary?
Have I planned for inflation and longevity?
Have I structured my tax withdrawals?
Is my estate plan up-to-date?
Do I have a vision for my lifestyle and wellbeing?
