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George and his wife, 63 and 64

Description

Sipp, Isas and investment account invested in funds, pensions, residential property, cash

Objectives

£30,000 per year on top of pension income to maintain lifestyle, fund children's pensions

<p>Sipp, Isas and investment account invested in funds, pensions,&nbsp;residential property, cash</p>

George and his wife are ages 63 and 64, and they have two financially independent children. He retired last year and his former workplace defined-benefit (DB) pension pays out around £50,000 a year before tax. His wife receives £1,750 a year after tax from her former workplace pension. Their home is worth around £700,000 and mortgage-free. George and his wife also have half-shares in two residential properties, one of which is being sold and should give them proceeds of £220,000.  

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