An inheritance can lead to a windfall and that was the case for Paul Tolliday, 64.
The former mortgage adviser received £80,000 as his share in the family home after his mother died last year. The money meant Mr Tolliday retired a year early. But now he wants to sort out his pension savings.
Mr Tolliday’s wife, Julia Bolland, is 11 years younger than him and plans to keep working as a teaching assistant for the time being. She brings in around £1,000 a month after tax and Mr Tolliday estimates that the couple need an additional £1,000 a month to live off.
When Ms Bolland reaches 60 she will get a pension of about £8,000 a year and a £20,000 lump sum.
Mr Tolliday has pensions with various providers totalling around £147,000. He also has £40,000 in stocks-and-shares Isas with Hargreaves Lansdown and Fidelity, invested in MoneyBuilder Dividend Income and some of Hargreaves’ own funds.
By Laura Suter.
Full story at Yahoo News.
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