Mr & Mrs B are both high earners and approached clarity to help them get a handle on their financial affairs. Mr B was 42 and a partner in a top four accountancy practice, with earnings of around £350,000 per year. Mrs B was 35 and holds a senior role at her firm, with a salary of £75,000.
As their income is fairly significant, they wanted to ensure they had considered all relevant financial planning options and were well prepared for the future. In particular they wished to:
- pay off their mortgage as quickly as possible; and
- optimise their pension savings in line with Mr B’s desire to retire from work at age 50.
Their home was worth over £1 million, with a mortgage of around £500,000.