Case Study

Chasebridge grants wish of early retirement after ‘light bulb moment’

6 October 2020

He resigned himself to the fact that his lack of millionaire status had damned him to yet more years of being part of the rat race that he had begun to tire of.;

Early retirement seemed like something that only the very rich could indulge in and was not something Sean had ever really considered, until he spoke to an old friend who just happened to be a leading financial advisor at Chasebridge Wealth Management.

The Situation

Having worked most of his working life as a TV and Audio specialist in the Hospitality Industry, Sean found himself job hunting after years of running his own successful business in a partnership.

At his age, the prospect of being interviewed and starting again with a new firm was not something he was looking forward to. So, when his mother became ill, Sean decided to take a year out to look after her.

It was during this period that he bumped into Gordon Craft, long-time friend and Director of Chasebridge Wealth Management Ltd. It was only when Sean mentioned job hunting, that Gordon questioned why he was not thinking of retirement.

Sean said: “I naturally assumed I had at least five to 10 years of work ahead of me, but Gordon said that that may not be the case. Who wouldn’t want to pack up work early, spend more time with their loved ones and start taking up new, enjoyable hobbies? He offered to go through my financial situation to see whether the dream could actually become a reality.”

The Solution

The first few meetings Gordon had with Sean were not about number crunching. Instead, they spent time chatting about what Sean and his partner Lee wanted from life, what changes they were prepared to make and where they might consider a compromise in a bid to achieve the end goal.

Gordon said: “Chasebridge’s approach has always been more about the individual, so we get to know our clients first. This is so we can understand exactly what they want from their future. It’s only then we can start to put a financial roadmap in place to achieve all their life goals.”

Eventually the duo moved onto facts and figures and Gordon assessed Sean’s pension, net worth and assets. He looked at possible ways Sean could generate an income and anticipated his lifestyle expenditure, while trying to determine a simple and achievable way to free up funds.

Gordon made several suggestions, but the main solution was Sean and Lee agreed to leave London, one of the most expensive cities in the world, and sell their property.

The move from North London to Rutland was completed in 2016. A series of house improvements followed, while Sean adjusted to living off a series of recommended investments and pensions. Following Gordon’s advice, Sean also purchased two Buy-to-Let properties which further supplemented his income.

The whole process took about two years, but now, aged 56, Sean has been happily retired for four years. In that time, he is now a regular gym user, enjoys walking and cycling and has used his practical skills to improve his home and garden.

The Experience

Relocating to a desirable, but cheaper location meant Sean was able to enjoy an improved lifestyle and once Gordon had figured out budgets, expectations, income generations and tax efficiency Sean was able to sit back and relax, knowing his financial future was as secure as it could be.

Sean said: “Gordon is great at simplifying things. He breaks down what I consider quite daunting issues into manageable portions. He took me on an incredible, enlightening journey, providing me with a lightbulb moment.

“He made me realise that you can’t expect to retire and everything magically happens. It takes mental and financial planning and that’s what Gordon brought to the table.”

Sean has said selling up, leaving London and retiring has been “life changing”.

He added: “Gordon has made something possible that I didn’t think was. I unequivocally urge people to go and see him. The man comes with so much insight and knowledge Whatever your state of mind is, or whatever you think you your financial situation is, go and speak to him.”

Gordon said: “Helping someone retire early and watch them enjoying their new-found freedom is why I do the job that I do.

“When Sean first came to see me, he admitted he had never been a great saver and really had no full understanding of his financial situation. But, together we worked through it all, and we were able to find a solution that granted him a future that was free of the daily grind of long days and continual fault finding and problem solving at work.

“I truly hope Sean continues to enjoy his early retirement as he has certainly earned it.”

The advice provided to Sean was given after a full evaluation of his specific needs, circumstances and requirements.  The solutions provided would not be suitable for most investors and the information provided does not constitute advice.