Perfect timing: How to advise clients on the right time to retire

Advising a client on the right time for them to retire can be more complex than expected. The textbook approach is based on a balance between health and wealth, but personality plays a big part too. Health  It is common to see higher spending in the first few years of retirement with it decreasing once plans have been fulfilled and/or as health deteriorates. If care is required expenditure can quickly rocket again, especially if residential care is required.  Most people overestimate their health expectations and underestimate their life expectancy.  The Office for National Stati...