couple enjoying furloughBy Rachel Efetha, Chartered Financial Planner with Anstee & Co.

I was recently introduced to new clients, Paul (aged 61) and Janice (aged 58). Not their real names. Paul was furloughed for six weeks towards the earlier part of lockdown when the sun was shining every day and as a self-employed Beautician, Janice was unable to work.

They found that they loved pottering around in the garden and enjoyed each other’s company, the first time that they had spent that long together every day since they got married!  So, when Paul was called back to work two weeks ago, and Janice is now able to trade, they contacted me to see if they could make a more permanent arrangement to stay at home and take early retirement.

What is the answer?

retire, retirement logo for furloughI asked them lots of questions about their assets, liabilities and lifestyle and then conducted a thorough analysis of all the pensions and investments that they had accrued over the years alongside a cashflow planning program.

I was able to give them the good news that, yes, they could afford to retire straight away, and could afford to spend around £5,000 pa more than they said that they would need, and still have money in the pot if they lived into their 90s.

Now, all that is needed is to consolidate their various pension pots and chose a suitable provider and fund, to commence a Flexi Access Drawdown plan. Then Paul can hand in his notice.

Does this sound like you? Are you enjoying your time on furlough?

How Anstee & Co can help plan your future after furlough.

Retiring now might not be an option for everyone, but it might be for you. We can help you see what your financial future will look like. If you cannot afford to retire now, we will help you put together a plan that might make it possible, sooner than you think.

We are Independent Financial Advisers (IFA’s). This means that the financial planning advice we offer is unbiased. We look at all the financial options available to you. This is unlike some financial planners who will advise only on their products or work from a restricted back logo for furlough

Why not contact us today to see how we can help you and to find out more.

Following government guidelines, we are making full use of video conferencing such as-

  • Zoom
  • Skype
  • Microsoft Team
  • Facetime

We can also arrange a telephone conference call, whatever works out best you. There is no need for a face to face meeting.

Finally, if you have any thoughts or comments about this article “Enjoy furlough so much that you do not want to return to work?”, then please let us know.

Financial Conduct Authority logoThe information contained in this article is for information purposes only and does not constitute advice. No action should be taken based on this information alone. Anstee & Co is authorized and regulated by the Financial Conduct Authority (FCA).