Matt and Penny* were referred to us by their friends who had been clients of ours for some time. Matt and Penny had inherited a lump sum which was leading them to consider taking early retirement, but they had never previously carried out any formal financial planning.

In the initial discussions with us Matt and Penny also asked about the best way to take their pensions – a common concern – and how the inherited funds would play into this situation.

Matt and Penny shared the worries and questions of many people we speak to who are approaching retirement. They had worked all their lives and were about to enter a period where they would have access to quite a lot of wealth – deservedly so! They were anxious not to lose it and they also wanted to ensure their money wasn’t squandered or eroded by inflation. They were also concerned about undue taxation, given how hard they had worked to save.

We outlined our financial planning process to the couple and explained that their money could be held in low risk investments. We also talked through how their financial plan would see them receive their income from a variety of sources, in a tax efficient manner.

In view of all this, Matt and Penny decided they wanted to keep some cash for emergencies and invest the rest in a low risk plan. In doing so they were able to rest easy in the knowledge that their wealth would be protected, well managed and available to them throughout their retirement which suddenly seemed a lot closer!                     

*Not real names