Case study: How we helped Huw to achieve early retirement.

In each of our case studies, we highlight a specific issue or topic that our advisers have helped clients to manage. We also show how working with a trusted financial adviser provides continuity and peace of mind for our clients.

In this piece, we look at how our client, Huw was able to retire early, and how that prompted some robust cashflow planning.

What first prompted you to seek financial advice?

I’d got to the stage where I had a main pension, but also various pots of other money dotted around. I wanted to clear that up and to know at what point I could retire. I also wanted to have some clarity over household outgoings and expenses and lifestyle – that sort of thing, I was a bit hesitant about seeking financial advice because at that point I didn’t know anyone else who’d been through the process. I didn’t know how much it would cost and whether that cost would be recouped in savings.

What was the advice process like?

The first meeting we had with our adviser was pretty much as you’d expect – a lot of questions and fact-finding. We were pleased to discover I could retire pretty much straight away. It actually came as a bit of a shock, but it was reassuring at the same time!

I did carry on working for a while but during some work restructuring I realised that my heart wasn’t in it anymore. I had to give six months’ notice and that gave me time to readjust, take stock, and plan a bit more.

How did the initial advice process evolve?

Because I had those six months, our adviser, along with my wife and I did some cashflow and lifestyle planning and were able to work out how much my wife would contribute – she is still working. Looking at spending was a real eye-opener, and I have to say I am now much more meticulous about spending now!

We also did some later life planning around helping our children to get on the property ladder, sorting out Power of Attorney, writing Wills and that sort of thing.

How often do you have contact with your adviser?

When I was in the process of retiring, I contacted our adviser quite regularly just to seek reassurance more than anything – because I hadn’t expected to be able to retire as soon as I did. I still need that reassurance, and he’s been exceptionally good at being very calm, assured, and consistent with us.

I still need that reassurance, and he’s been exceptionally good at being very calm, assured, and consistent with us.

How important is the relationship with your adviser?

Our adviser has taken us on a journey from one life stage to another. He is always very patient and willing to explain what we are doing and why.

It’s as much the advice that you’ve been given as well as the relationship that we have with our adviser. The two go together to make the entire experience. It’d be a worry if he disappeared somewhere because we are very much relying on him. It’s more than just his advice, it’s him as well.

Get in touch

If you’re in a similar situation to Huw, find out how Flying Colours can help you achieve your retirement goals. Book a no-obligation consultation with one of our retirement planning experts today. It’s free and there’s no pressure to work with us afterwards, but after 45 minutes you’ll come away with:

  • A clear picture of where you stand with your retirement planning from a qualified financial adviser
  • Guidance on potential tax-saving opportunities you might be missing
  • An understanding of your retirement income options and drawdown strategies
  • An initial assessment of your pension arrangements
  • Professional insight on whether you’re on track for the retirement you want and what you may be missing

So what have you got to lose? Book a consultation today!