Unlocking Life’s Adventures

Mr and Mrs Wilson were introduced by another local professional to PenLife. They were living together about an hour and a half’s drive outside of York and requested a home visit.

During the meeting at their house, Financial Planner, Justine discussed their backgrounds. The couple used to work for the same company and tried, but couldn’t help falling for each other! They said they thoroughly enjoyed telling Justine about their history and taking a walk down memory lane.

Mr and Mrs Wilson had already hit retirement age and hadn’t been working for some time. And although they enjoyed not being employed anymore, they couldn’t help but feel they weren’t enjoying life to the fullest as they anticipated. They confessed that they were actually quite underwhelmed.

They both had sizeable pensions and they had recently paid off the mortgage on their flat. They also had an extra source of income from a second property they rented out. Although they were financially secure, they were both very conscious of the fact they retired young and often worried about the prospect of their money running out!

Although they had come to PenLife to try and identify whether or not they needed tax advice (on how to drawdown their pensions and take income from their plans as efficiently as possible), they actually learnt a lot more about their investments and how they could produce an income out of growth.

Mr Wilson has a passion for cricket, and both are keen travellers. After we analysed what they had, we could reassure them that it wasn’t necessary for them to be as frugal as they were being. They shouldn’t hold back on the things they enjoy doing in life – their money wouldn’t run out! Justine encouraged them to live the life they wanted to, and they made some overdue lifestyle changes.

Sometime later, the pair contacted us again to say they took our advice and have never looked back. They had just returned from a tour of the world and are already planning their next! This news was enough to confirm we changed their lives, but they wanted us to know they probably never would have done it without the much-needed confirmation from one of PenLife’s experts.

If you would like to have a chat with one of PenLife’s Financial Planners, please call us on 01904 661140. The call is held at our expense and there is absolutely no obligation to take things further. Alternatively, email enquiries@pen-life.co.uk or head to www.pen-life.co.uk/contact.

Please note: The contents of this case study are for informational purposes only and do not constitute individual advice. The information contained within this is for guidance only and does not constitute advice which should be sought before taking any action or inaction. The Financial Conduct Authority does not regulate cashflow planning or tax planning.

The information in this case study was correct at the time of writing.