At retirement – Sally


Sally was in her mid-50s and divorced, with no children. She owned her property outright, had a good amount of pension savings and some cash.

Sally’s elderly father was ill and, due to stress, she had decided she wanted to stop working. Sally herself had also previously had breast cancer. She was looking for help in securing a decent level of income in retirement, despite her plans to retire early.

What did we do?

We helped Sally explore the options available to her. We considered both a drawdown and an annuity for her pension savings; drawdown was the best option initially, but it would be best to take an annuity later on in life.

Her fall-back position was to downsize to a cheaper property or release equity from her home. She could also have potentially continued to work on a freelance or part-time basis to supplement her income, but this was not ideal for her situation.

The outcome

Fortunately, Sally was able to use her pension drawdown income to stop working. She’s relieved to be away from her highly pressured role and able to instead care for her father.

She may look for part-time or freelance work in the future, but otherwise is enjoying the freedom she has. She no longer has to worry about running out of money and has a secure plan in place for the future.