Aspiring to retire

Whilst he wasnā€™t looking to retire yet, Roger wanted to know what he had in terms of pensions and at what age he could. Hereā€™s what we did to help.

Roger was in his late 50s.

Whilst he was happy at work, he didnā€™t really want to work until he was 65 unless he really had to.

Roger had accumulated various pensions, savings and investments over his working life, but didnā€™t really understand what sort of income he could expect in retirement. He wasnā€™t sure at what age he could retire and didnā€™t know if he had enough to sustain him long-term.

How we helped.

We obtained information about all of Rogerā€™s pensions and investments so that we had a solid understanding of what he had in place. We discovered some of them were quite expensive or were invested in quite a risky way. We managed to reduce costs and risks which in turn minimised the number of different arrangements he had.

This initial exercise simplified things greatly for Roger. He was glad to not have to spend time dealing with paperwork and administration.

We then used a lifetime cashflow planner to model different retirement scenarios and work out what was possible.Ā  We inputted all of Rogerā€™s pensions and savings to see what Roger could realistically achieve, without the worry of running out of money in the future. We also helped Roger utilise his available pension contribution allowances and ISA allowance, bringing his tax liability for the current year right down.

What was the outcome?

Rogerā€™s financial life was greatly simplified. He is now able to see all his pensions and investments online on a single platform.

In addition, he now has a plan in place to be able to retire at his desired retirement age of 62, almost 4 years before his State Pension Age. He has paid about Ā£6,000 less income tax this year due to additional pension contributions and maximising the annual allowance.

Roger feels much happier; he now understands what he has, what is possible and is confident that his finances are in order for him to enjoy retirement to the full.

Want to know more?

If you are looking for help or advice, weā€™d be happy to arrange a call or meeting with you. Get in touch on 01962 458 121 or email simon.weeks@red7fm.com. Alternatively, get in touch via our call back form here.

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What do our clients have to say?

I was recommended to Simon when I moved from London to Hampshire around 10 years ago. I wanted top quality financial advice across both my highly intertwined business and personal/family lives, able to be delivered often face to face without too much travel effort. My needs started with tax management advice but quickly spread to how to fund a house purchase and renovation, and then my childrenā€™s education. As I reach my mid-50s, the questions have been more to do with pension, London property and my family investment portfolio. Simon has been beside me all that way. Why? Well, professionally, because he knows his subject, is always well prepared, can explain things quickly and clearly, and is sensible and sincere in his advice. When occasionally I have questioned him toughly, he has proved his advice can withstand that. So, I have learned to trust his recommendations, which always save me time, stress and help me to be financially well prepared. On a personal level, it is always nice to see him as he is friendly, tries really hard to help and makes all his clients, however unimportant in terms of fees, feel looked after and valued. Trust him, itā€™ll be worth it.

James, from St Marybourne

We have used Simon for around 10 years. We started from a point where retirement was a scary thought which we could never afford. Working with Simon we put a plan together and now we feel that financially the future is much clearer. Simon is not one for fancy high risk instant results; he has always made this clear and in the process has steered us away from several ā€˜get rich quickā€™ schemes that have tempted us.

Mike, from Whitchurch

We were looking to invest a windfall for the long term in a tax-efficient way so that it could provide additional support to our disabled child in the future. Simon arranged a plan that provides for this and also combined our various pension schemes onto a consolidated platform. This enables accurate cash flow modelling that would not be possible with a variety of scattered funds. Our regular reviews have been invaluable in reducing any financial uncertainty and concern. Simon has arranged life cover offering greater value for money and with premiums paid directly from my company, effectively reducing the cost.

John, from Godalming

I have been working with Simon for a number of years now and have come to really value his financial planning advice. He first helped me to invest the money I made from selling my business and since then he has continued to advise my husband and I on all aspects of our financial and retirement planning. Simon brings a well-informed, balanced perspective to our financial decision-making that is always reassuring.

Rachel, from Richmond-Upon-Thames

We originally contacted Simon shortly after we married, as we had a diverse portfolio which was proving difficult to manage. Simon helped us to clarify our investment aims for growth and income over our working lives and into retirement, providing the information we needed to select the appropriate risk strategy for our investments. Our portfolio is now well structured and easy to manage, together with regular updates on the value. Simon meets with us at least once a year to discuss our portfolio, is always well informed, providing us with appropriate advice and information to make any decisions.

William, from Southampton