Although the following case studies relate to actual examples, where we have helped our clients by providing solutions to their financial problems, the names and figures have been changed for confidentiality purposes. The advice provided to these clients was given after a full evaluation of their specific needs, circumstances and requirements. The solutions provided would not be suitable for most investors and the information provided does not constitute advice.
Over the years Steve had accumulate 6 different pensions with 6 different providers. He wanted simplicity and all his pensions gathering in to one pension scheme from which he could drawdown his pension income. We did exactly that and now Steve gets his pension from one place. He likes having just one person to deal with and is enjoying his retirement.
Richard had retired well. He had sold his business and had always paid into his pension fund so had plenty of money to retire on. His primary concern was that the sale of his business had made him a wealthy man so now he had a substantial inheritance tax problem. We set up an investment programme that addressed some of his inheritance tax liability immediately and will address the rest in the coming years.
David came to me for a financial review. He was 60 and what he really wanted to do was retire. I asked him to let me crunch some numbers and I established that his retirement income would be just £200 p.m. less than his current income. He agreed he could live with that and quickly retired.
Jenny already had a substantial pension and had a business, the prospective sale proceeds of which meant she was unlikely to need the bulk of her pension. What she did want was to have her mortgage paid off. We set up a plan that allowed her to take the tax- free cash from her pension earlier than her intended retirement to pay off the mortgage.
Are you running your own business or are you a business executive looking to retire?
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