July 21, 2025
Lynda Croome is a Chartered Financial Planner and Independent Financial Adviser with over 30 years’ experience. Her first goal is to understand your objectives so that she can work with you to build a financial plan to realise your future vision. In this consultative process she draws out what is important to you, learning about your financial position and priorities to establish and recommend your next move.
I recently worked with a gentleman in his early 60s who sadly, due to issues in his work environment and the inability to work from home, no longer enjoys his job. He’s been thinking about whether his pension pot is enough to allow him to retire before he reaches state pension age, but was worried about whether he and his wife would have enough to live on, and whether retiring early would mean that they run out of money later on.
We reviewed his and his wife’s pension arrangements, along with their current financial situation and outgoings. We looked at what they would need to meet their regular expenses and maintain their lifestyle.
I was able to show him that, together with his wife’s salary until she is able to claim her pension, his pension fund is enough to provide them with a comparable income if he retires now. By adjusting the level of income from their private pensions once they both reach state retirement age, their funds will be sufficient to sustain them in a comfortable retirement.
This client had also considered the impact of taking the maximum tax-free lump sum from his pension. My expertise also helped to clarify his thinking, as I was able to show him a more tax-efficient way of doing this, which would save him money and increase the sustainability of his pension fund long-term.
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