Meet John and Sandra

John is 58 years old and works as a Marketing consultant in London. Sandra, is aged 60 and is retired. 

John believed he needed to work until aged 65 to be able to afford a good retirement. Many of his friends has started to retire, which had led John to think more about retirement. John spent the last 30 years commuting in and out of London every day. He was becoming tired of the commute and wanted to spend more time with Sandra doing things they enjoy, like playing golf and travelling to Cornwall.

John had no idea how much he needed to retire and whether his pension would be able sustain his lifestyle in retirement. John had expressed his concern to a friend, who referred John to us.

After a full review of John’s financial situation, taking into consideration both his lifestyle and financial goals, it became clear that John could in fact retire now if he wanted to. Through cashflow analysis John was able to visualise his current and future situation, which made him feel much more confident and at ease.

John decided to continue working for another 2 years, and retire at aged 60.

We suggested increasing his pension contributions for these remaining two years, as a strategy to increase his retirement funds in a tax efficient manner. John was able to not only able to save more for his retirement, but also benefited from income tax relief on his pension contributions. 

Ultimately, engaging the services of a qualified advisor helped John gain control over his finances which improved both his quality of life as well as the families long-term financial security.