I'm 48 with £800,000 in my pension, can I afford to retire early?
Although I am still some years away from the traditional retirement age, my concern stems from my health.
TL;DR
- A 48-year-old man with £800,000 in pensions and £290,000 in Isas is considering early retirement due to health concerns.
- He works in the banking industry, which is undergoing significant technological change.
- Financial experts suggest that retiring early might be feasible with his current savings, but detailed cash flow planning is essential.
- Key considerations include future spending, potential health expenses, and employer-provided benefits like death-in-service and income protection.
- Professional financial advice is strongly recommended due to the complexity of his situation, including health, family, pension, and employment factors.