The majority of people would like to retire from full time work at some stage and do other things, whether that is charity work or spending more time with grandchildren or taking a hobby more seriously. Some may want to keep working in some capacity and phase their retirement.

Maybe you too want to reach that point of being financially independent; the day you no longer have to go into work.

What will financial independence look like to you? How much income will you need to provide the standard of living that you want and where will it come from?

In reality income comes from a number of sources such as pension, investments and perhaps the sale of your business.

But will there be sufficient assets there to provide you with the income you need and if not what exactly do you need to do to ensure there is?