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Trusted retirement planning experts in the Cayman Islands

Planning your retirement is an exciting time.

Retirement Planning in Cayman

Trusted retirement planning experts

Planning your retirement is an exciting time. You’ll no doubt have various aspirations for the future, but it’s important to have a proper retirement plan put in place. At IFP, our bespoke retirement plans are carefully tailored to your current financial situation and goals so you can make the most of your retirement.

Common retirement challenges faced by our clients

Planning for retirement can raise a number of issues, even more so if you’re hoping to make the most of your freedom through travel. Some of the common questions asked by our clients include:

How much income will I need when I retire?

When considering your ideal retirement income, you’re likely to need to meet your annual expenses for 25 years or more. Our planning process helps give you a clear picture of your financial future taking into account certain agreed assumptions based on your expected lifestyle and other factors.

What size retirement fund do I need?

Take into account the income you feel you would need, as well as any foreseen one-off expenses. Then factor for inflation between now and your life expectancy and take into account whether you wish to pass on any legacy. There are many things to consider when determining the size of fund you will need. Our advisers have the experience and expertise to cut through the math for you and estimate your required fund size.

How much money do I need to save or invest in order to reach my retirement goals?

Compare the income and retirement fund you require with your current financial situation. If your savings and existing pension do not cover these costs, we’ll help you calculate the difference and put plans in place according to your affordability to boost your funds and reach your goal.

Our approach to retirement planning

There are five steps to our retirement planning process:

Learn about you

To help you plan for a secure and comfortable retirement, we need to understand your current situation and vision for the future. We’ll ask you about your retirement goals, along with any concerns you may have.

Analyse the numbers

We’ll analyse your financial position and calculate any shortfall if it exists in your provision. We’ll look at your affordability and risk profile, then discuss your best options going forwards.

Create your retirement plan

We’ll then recommend a personalized retirement strategy and create your personal retirement plan. This often includes details on how to improve your financial lifestyle while saving and how best to manage your money during your working life.

Implement your retirement plan

When you’re happy with your personal retirement plan, we put it into action straightaway, so you can start looking forward to your retirement, having peace of mind you have a structured plan in place.

Ongoing reviews

Once your plan is up and running, we’ll regularly review it and take into account any changes in your personal situation to ensure your plan is working for you. We’ll make any recommendations along the way we feel are right for you, to make sure it fits in perfectly with your long-term goals. The experts at IFP are always on hand to provide advice, too.

"A Well known author Jean Chatzky once said"
Knowing where you stand in your quest to accumulate enough money for retirement is an incredibly important part of the planning process.

Get in touch with IFP today to receive a complimentary planning assessment and find out how we can help you

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