Approaching retirement

Jeremy & Jayne Cooke

Clients since 2019

What prompted Jeremy and Jayne to seek advice?

Jayne is a Civil Servant and Jeremy is a Baker. Jeremy suffers from arthritis and has had several operations. He was finding his workload difficult and was hoping to semi-retire by gradually reducing the number of days worked. He had a preserved Defined Benefit pension and a smaller Defined Contribution pension. Jeremy and Jayne wished to enjoy a good lifestyle and more holidays while Jeremy was able to travel unaided.

How did we help?

We worked with Jeremy and Jayne to fully understand their personal circumstances, attitude to risk and life plans. With this information, we were able to support them by explaining the benefits of their pensions and completing lifetime cashflow models to help them to make the right financial decisions.

How have Jeremy and Jayne benefited from our advice?

We identified that they would be unable to fulfil their objectives if Jeremy remained in his Defined Benefit pension scheme. We recommended a transfer to a Defined Contribution pension where Jeremy was able to flexibly access his benefits and generate a higher level of income while he was able to enjoy it.

We stress-tested the cashflow model to understand the risk and capacity for loss and how a fall in the value of his pension would affect their lifestyle. It was important to establish other pension income that was guaranteed for life and ensure that their essential expenditure would be covered under any circumstances.

What Jeremy and Jayne say about working with us:

“We wanted to be able to plan for our future as Jeremy has a number of long-term health issues. We met with Andrew on a number of occasions where he looked at our personal and financial situation very thoroughly. He provided us with a plan and lifetime cash flow model based on both our private pensions and State Pensions, taking into consideration that Jeremy wanted to gradually retire, due to health reasons.

The model he has provided allows us to have a choice with Jeremy’s pension. It provides funds in later life, but also allows us to have sufficient income while we are still young and fit enough to be able to do the things we want before Jeremy’s health deteriorates further.

Our meetings with Andrew were relaxed and friendly but very informative, he explained everything to us and answered our many questions in detail ensuring we understood everything before moving on. He was always available to take our calls when we needed clarification on anything and would ring us to provide any new update or information.

Even during this very unusual time of Covid 19, he made contact with us to give an update and provide reassurance about our investments, which was much appreciated as it helped to allay any fears we had.

We wouldn’t hesitate to recommend Andrew and his business Financial Planning Solutions to anyone, we have already recommended him to family members and would like to thank him for all his help and advice.”

Let’s talk

If you want to free yourself to enjoy your wealth, then get in touch using the details below or complete the form.