Retirement is the perfect medicine for former pharmacist

Friday 25 January 2019

A former North East pharmacist tells of how early retirement and receiving the right financial advice has dramatically improved his health, wellbeing and family life.

For over twenty-four years, Adam Olsen worked at a community-based pharmacy in Ashington, where he enjoyed being on first name terms with his customers and was entrusted with their pharmaceutical needs. His role before retirement was pharmacist manager but the rigors and pressures of running a modern-day pharmacy took their toll, which helped to make Adam’s mind up before his retirement in January last year.

“I have absolutely no regrets about retiring when I did.  At the end of the day it was the best decision to make on behalf of myself and my family as my health and happiness ultimately has to come before my career,” said Adam.

He continued: “I was coming home after nearly a 10-hour day feeling totally exhausted and worrying about the prospect of becoming mentally burnt out. I loved being a pharmacist but the mountains of paperwork, additional expectations and sleepless nights were having their effect on my professional and home life.” 

Adam, aged 55, was born in North Shields but now lives with his wife in Whitley Bay. They have two children together, a son and daughter.  Before Adam took the plunge of taking early retirement, he consulted expert guidance from family-run independent financial advisers Explore Wealth Management.

Adam added: “At first I wasn’t sure what to do. I didn’t want to make a decision that would end up coming back to financially haunt me. This is when I saw an advert for Explore Wealth and decided what harm could it do to seek advice on an issue that could map out the rest of my life.”

Adam set up a chat with senior financial adviser, Steve Cattle.  They discussed everything from pensions through to savings and whether Adam could achieve his retirement plans. He said: “My big step was made easier as they [Explore Wealth] were friendly, informative and put me at ease.  Sometimes financial details can be difficult to understand but they cleverly simplified all of the nitty gritty technical terms making it easier to digest. The resulting advice made my decision more tenable.

“The complexities of pensions can be overwhelming for some people, who are frightened and fearful of taking the first step towards seeking proper help as they don’t have a clue of how to manage their pensions on their own.  People should be more honest with themselves on when the right time to retire should be.” 

Explore Wealth Management is a family-run firm of independent financial advisers based in Cramlington, Northumberland – who specialise in retirement planning, pensions advice and investment management.

Steve Cattle of Explore Wealth Management, said: “When thinking about your retirement and pensions, individuals should think along the lines that jobs and finances aren’t always set in stone. Gone are the days when the end of a person’s working life matched the start of their state pension with some now choosing or needing to work well into their 70s and 80s. On the flipside, like in Adam’s situation, some have the option to choose to retire earlier to either explore a possible career change or simply take a breather and enjoy life to the full by making the most of their retirement provision.

“We try to work out if people can afford to retire and forecast realistically what they can spend on lifestyle traits such as cars, holidays and day-to-day living.  People don’t have to tread water in a job waiting for the retirement buzzer to sound. They could have enough savings and investments in the bank to consider retiring earlier than expected.”

Adam is spending his first year of retirement relaxing, cycling along the North East coastline, enjoying city breaks and thinking about his next move.  He is considering the exciting possibility of becoming an entrepreneur by entering the mobile catering industry with food being a big love in his life. Adam’s favourite cuisine is Turkish and Lebanese styles of cookery.

For further information about Explore Wealth Management please visit their website at www.explorewealth.co.uk or call 0191 285 1555.