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- How Tom retired sooner than he ever expected
The power of advice: Tom, 60, found that he could afford to retire straight away and a few weeks later, he handed in his notice - something he hadn’t thought possible!
At 60 years old, Tom a London-based professional, had spent decades working hard and saving carefully. Single and without children, he had built up a variety of savings and investments. But when it came to retirement, he wasn’t sure where to begin.
He hoped to retire soon, however he was not sure if that was realistic. What he needed was clarity and a clear picture of what life could look like financially once he stepped away from work.
Before coming to us, he felt overwhelmed. He had money saved in lots of different places - pensions, ISAs, an onshore bond, and surplus cash - but no idea how to bring it all together. He didn’t know when he could afford to retire, or how to use his savings to support himself once he did.
He also wanted more than just a one-off plan. He was looking for a long-term relationship with someone who could guide him through retirement, helping him make smart decisions about tax, investments, and income along the way.
We started by listening to what mattered most to Tom. This was simplicity, confidence, and the ability to retire as soon as possible. Then we carefully reviewed all his assets and built a plan tailored to his goals.
Uncovering hidden value: We discovered that one of his pensions included a guaranteed minimum income from age 60 something he hadn’t realised. Another pension was linked to a defined benefit scheme, which would be most valuable if left untouched until age 65.
Simplifying the complex: We consolidated the pensions that didn’t have guarantees, making them easier to manage and more efficient for drawing income. The guaranteed pension is now being used to support him in early retirement, while the linked pension will help fund tax-free cash when he accesses his defined benefit pension later on.
Smart tax planning: We advised a final pension contribution in his last year of work to maximise tax relief. Since the onshore bond was no longer tax-efficient, we recommended selling it down gradually over two years to avoid triggering unnecessary tax.
Investing with purpose: Tom had built up a large amount of surplus cash. We helped him invest some of it to support his medium- and long-term goals, while keeping enough aside to cover his short-term needs. His pension and other assets were then invested across different time horizons to support a tax-efficient drawdown strategy.
The outcome he never thought possible
The impact was immediate. With a personalised cashflow plan in hand, Tom could see exactly what his finances could support. For the first time, he realised early retirement was within reach. Just weeks later, he confidently handed in his notice; something he hadn’t imagined possible before.
We’re now helping Tom implement the plan in stages; some actions were taken before retirement, others are happening now, and the final steps will be completed when he turns 65. He now has a clear, manageable strategy for drawing income, and a trusted adviser relationship with us to support him throughout retirement.
Tom’s story shows that retirement doesn’t have to be uncertain or stressful. With the right advice, even a complex financial picture can be turned into a clear, confident plan for the future.
Our client’s names have been changed to protect their identity.
This case study is intended as illustrative purposes only, it does not constitute individual advice and should not be used to inform financial decisions.
They are based upon our understanding (at the time of advice) of current law, HM Revenue and Custom's practice, tax rates and exemptions, which are subject to change.
A pension is a long-term investment not normally accessible until age 55 (57 from April 2028 unless the plan has a protected pension age). The value of your investments (and any income from them) can go down as well as up which would have an impact on the level of pension benefits available.
The Financial Conduct Authority (FCA) does not regulate cash flow planning, estate planning, tax or trust advice.
