Retiring early is a dream for many people in the UK. However, achieving early retirement requires careful financial planning and expert advice. 

 and financial advisers play a crucial role in helping individuals retire early by offering tailored strategies to optimise savings, manage investments, and ensure long-term financial security. As advised by 

, "it's crucial to have a breadth of options tailored to your unique circumstances". For a more detailed account of our discussion with Rob, please refer to 

Let's delve into how a wealth manager can help you achieve early retirement.

 means leaving the workforce before the traditional retirement age of 65. It's not just about having a substantial amount of savings; it involves a strategic approach to financial planning. According to a survey by 

 Wealth & Investment, nearly half of the clients who believed they could retire early admitted that they would not have been able to do so without professional advice 

Nearly half of financial adviser clients believe they will retire early

What Age Can You Claim the State Pension in the UK?

The state pension age in the UK is currently 66, and it is due to rise to 67 between 2026 and 2028. Future reviews may increase this further as life expectancy changes. Even if you plan to retire early, understanding your state pension entitlement is essential for long-term financial planning.

How much money will you need after retirement?

Initially, you should think about the kind of lifestyle you want to lead after work. How much money you need for retirement will depend on the annual salary you'll need to maintain this lifestyle.

The "50-70" rule is a widely used formula for calculating retirement income. According to this, your annual income should be between 50 and 70 per cent of what it was before you retired. According to the formula, you should strive for a retirement income of between £50,000 and £70,000 if your pre-retirement salary is £100,000 annually 

Adequacy of future retirement incomes: new evidence for private sector employees

It is important to keep in mind that you might eventually need a sizeable income: The average cost of a residential care home in the UK is currently between £27,000 and £39,000. If nursing care is needed, annual costs rise to £35,000 to £55,0001 

. Your retirement planning should take these ever-increasing costs into account.

Care home costs: How much do you pay?

Women might also need to consider career breaks that lead to a lower pension pot. "When you combine lower income with career breaks or reduced working hours to accommodate for childcare this all adds up to a widening pensions gap in the UK" explains 

. “On average, women save an eye watering 33.5% less than men by the time they reach age 65". She recommends regularly reviewing your pension savings to "help close the gap, even if you choose to take a career break." In these moments is where an experienced adviser can help close those gaps 

. To explore our conversation with Megan in greater depth, please see 

"Empowering Women Through Investment: Overcoming Challenges and Driving Financial Independence"

The gender pensions gap - can it be closed?

Key Standards for Retirement Living in the UK

Pensions and Lifetime Savings Association

 (PLSA) has developed three retirement living standards to guide planning: 

. These benchmarks outline the income needed to cover essentials, some discretionary spending, or a more flexible lifestyle in retirement. Including these standards in your planning helps align savings and investments with the lifestyle you want to achieve 

Analysis of Future Pension Incomes 2025

The Role of a Wealth Manager in Early Retirement

A wealth manager offers comprehensive financial services that go beyond simple investment advice. They provide a holistic view of your financial health and future goals, which includes 

How wealth management makes a positive difference to legacy and lifestyles

 Wealth managers conduct a thorough analysis of your current financial status, including assets, liabilities, income, and expenditures. This assessment helps determine how much you need to save for early retirement.

They develop a customised financial plan that aligns with your retirement goals. This plan includes investment strategies, 

 highlights, having a structured plan can significantly enhance your ability to retire early by ensuring you are on track with your savings and investments.

Planning and Preparing for Later Life

 A key aspect of early retirement is having a robust investment portfolio. Wealth managers help select the right mix of investments that balance risk and return. By diversifying your portfolio, they can mitigate risks and maximise returns, which is essential for building the wealth needed for early retirement.

 Effective tax planning is another critical area where wealth managers provide value. They utilise various tax-efficient strategies to reduce the tax burden on your investments and savings, ensuring more of your money works for you.

Steps to Boost Your Chances of Early Retirement

To increase your chances of retiring early, consider the following steps that a wealth manager might recommend:

 The earlier you start planning and saving, the more time your investments have to grow. Compounding interest plays a significant role in building wealth over time.

 Financial plans need to be dynamic. Regular reviews with your wealth manager can help adjust strategies based on changes in the market or your personal circumstances.

 Managing your expenditures and avoiding unnecessary debt can significantly impact your ability to save more aggressively for retirement.

Taking full advantage of pension schemes and employer contributions can provide a substantial boost to your retirement savings. As Brewin Dolphin states, contributing more to your pension can significantly enhance your retirement funds.

 Wealth managers often recommend diversifying into alternative investments like real estate or private equity, which can offer higher returns but come with their own risks 

Assessing the UK Retirement Income Market

The Psychological Aspect of Early Retirement

Beyond financial strategies, wealth managers also help clients prepare for the psychological transition to retirement. Early retirement can bring about significant lifestyle changes, and being mentally prepared is just as important as being financially ready. Engaging with a wealth manager can provide the reassurance and confidence needed to embrace this new phase of life.

Retiring early is an attainable goal with the right planning and professional advice. Wealth managers play a pivotal role in guiding individuals through the complexities of financial planning, investment management, and tax efficiency. Their expertise not only enhances the chances of achieving early retirement but also ensures a secure and fulfilling retirement life. As demonstrated by the positive experiences of those who sought professional advice, the path to early retirement is clearer and more achievable with a wealth manager by your side.

Retirement planning can be complex and time consuming.

 Compare Wealth Managers offers a free service to help you find a wealth advisor/manager suited to your needs. Simply click the orange "start comparing" button to get started or checkout out our 5* reviews from 

Early retirement requires proactive planning

 – Retiring before 65 needs disciplined saving, wealth protection, and expert financial advice tailored to individual goals.

Wealth managers provide tailored strategies

 – Advisers optimise retirement savings through tax planning, investment diversification, and risk management.

Income planning underpins retirement goals

 – Targeting 50–70% of pre-retirement salary helps maintain lifestyle and prepare for rising healthcare and living costs.

 – Career breaks and lower earnings widen the savings gap, making regular reviews and professional guidance essential.

Diversification strengthens financial security

 – Spreading investments across pensions, equities, property, and alternatives balances risk and drives long-term growth.

Tax efficiency protects retirement wealth

 – Pension contributions and structured withdrawals minimise tax liabilities and preserve capital for later years.

 – Preparing emotionally for lifestyle changes ensures early retirement is both financially sustainable and personally fulfilling.

Could a Wealth Manager Help You Retire Early?

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. The site provides clarity in an industry that can often appear opaque, giving individuals the information they need to make 

well-informed decisions about wealth management services

, Will brings a rigorous, data-driven approach to assessing the 

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Will Goodhew

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Could a Wealth Manager Help You Retire Early?

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Will Goodhew

Bio

Articles from author

Could a Wealth Manager Help You Retire Early?

Start your journey to your Financial well-being

FIND OUT MORE

LEGAL

CONTACT US

Start your journey to your
Financial well-being