Paul and Carolyn

Jodie
Hi, I’m Jodie. Are you beginning to think about retirement and aren’t quite sure how to organise your finances? Well, I was fortunate enough to speak with one of Abbotstone’s clients, husband and wife, Paul and Carolyn, about their journey to financial confidence within retirement. So, how did you first discover Abbotstone, and what led you to seek out financial advice in the first place?

Paul
I was coming up to retirement, and I realised that at that time of life, I needed to start thinking about the future when I stopped getting a pay cheque. I first met with Robert and explained to him what my objectives were, what type of pot I had and where it was at that time. Very quickly, Abbotstone responded with what they felt they could do for me. 

We were planning to go sailing for four or five years, and I was very conscious that we needed to make sure we could fund that and have a regular income. Abbotstone made it very easy for me to understand how that could be achieved through several different options that were available. The one we chose has proved very successful.

We’re always aware of what the investments are, where they are, and where they’re going. We get regular reports back, and it’s worked out absolutely fantastically.

Carolyn
Paul retired two years before me. I waited until I was 60 to retire because Paul’s retirement was getting us ready to go sailing. I had a final salary pension that I’d shut down, and then when I retired, I had four different pensions because I’d worked for 30 years in four different companies. I had just left them, whereas Abbotstone asked, “Have you thought about what you’re going to do with them?” We discussed it, and they helped me collate them in one place, which was much easier to manage. I hadn’t thought about doing that prior to speaking with Abbotstone. I was going to finish work at 60 with four or five different pensions so that collation and their expertise really helped me.

Jodie
In terms of travelling and being away from the UK, how were you able to maintain your relationship with Abbotstone while you were abroad?

Paul
We sat down before we left and Robert asked me, “Do you want me to report to you monthly? Do you want a six-monthly report? An annual report? Do you want updates by phone or by email?” So, it was like a shopping list, and I said, “You look after the money, and you tell me at agreed periods about the report that would come through, so I know roughly what is going on.” And this is exactly what they did. 

If during that period while we were away there were recommendations – perhaps one fund wanted to move to another fund – they would email me, and then we would agree that that was the right thing to do, and that was done. So, I was always kept in the picture of where the investments were, where they were going, and any recommendations that needed to come in.

Carolyn
Paul talked about how they would keep us apprised of how things were going up or down, but because we were away for three months, six months, or nine months, depending on which part of the Mediterranean we were in, every time we came back, Robert and Georgina would always make time for us. They would come to our house, fit in with our timescales, just to talk through the latest updates and to give us a regular update on where things were in our portfolio at that time, which was great because each time we went away sailing, we knew exactly where we were. 

For me, it’s confidence. We don’t have to worry about our finances; somebody else is managing them for us. So, we confidently live our lives and spend when we need to, but they’re managing it for us, so it’s no worry for us. 

Jodie
Thank you to Paul and Carolyn for sharing their story. If you feel like you need some guidance with your finances, then be sure to get in touch, and the Abbotstone team will be happy to help.