Nick came to us for advice just after his 55th birthday. He wanted to retire early and have enough tax-free cash to pay off part of his mortgage. He was willing to reduce his expenditure to facilitate his wish to retire early.
Nick wanted to enjoy the early years of retirement and spend more time with his family. He had a pension with valuable guaranteed benefits, but, given his objectives, this pension would have taken a heavy reduction and wouldn’t have allowed Nick to retire early.
What we did
In order to meet Nick’s objectives, it was necessary to transfer his company’s pension scheme.
Through our initial and ongoing analysis, we were able to demonstrate that Nick could enjoy his early retirement whilst in good health.
In addition, we made sure that Nick’s withdrawals from his pensions are completed in the most tax-efficient manner, in order to best utilise his personal tax allowances.
Nick has been able to drastically reduce his expenditure, allowing him to retire early at 58, spend more time with the family and enjoy his hobby of long-distance running.
Our ongoing work and regular meetings allow Nick to feel confident that his pension and finances are in good order. He’s free to enjoy his early retirement.