Could I retire next year at 55?

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  • stoozie1
    stoozie1 Posts: 656 Forumite
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    £2880 net into wife's (new?) Sipp now and £2880 again on the 6th?

    Pam lai ;)
    Save 12 k in 2018 challenge member #79
    Target 2018: 24k Jan 2018- £560 April £2670
  • ffacoffipawb
    ffacoffipawb Posts: 3,593 Forumite
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    stoozie1 wrote: »
    £2880 net into wife's (new?) Sipp now and £2880 again on the 6th?

    Pam lai ;)

    Mae hi yn gwneud yn iawn efo arian a dim buddsoddiadau. Call iawn efo dyn gwallgof oren yn arlywydd yr Unol Dalieithau. :0
  • justme111
    justme111 Posts: 3,508 Forumite
    First Post First Anniversary Combo Breaker I've been Money Tipped!
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    ffacoffipawb wrote: »
    Well, 7 weeks on ...

    My £800k SIPP is now £690k
    My £200k ISA is now £170k

    Significantly underperformed the market by using IT's.

    May take PCLS next year at 55 due to LTA issue but retirement postponed for another 2 years as I don't feel I have enough 'fat' in my investments to cover lean years.

    Also there is a risk of a Corbyn government which may postpone retirement permanently. The current rout is nothing compared with the carnage he will cause.

    so you have enough for a drawdown of about 3O OOO without touching capital at 4% + DB pension + presumably state pension. You need 24 OOO. You lived on it for 1O years while earning about 6OOOO. And you think you do not have enoigh cusiin for retire. Sad that you do not think you are in position to enjoy the fruits of your labour - I gues ht is a trap that avid savers fall in - they never use that money.
    The word "dilemma" comes from Greek where "di" means two and "lemma" means premise. Refers usually to difficult choice between two undesirable options.
    Often people seem to use this word mistakenly where "quandary" would fit better.
  • Bravepants
    Bravepants Posts: 1,503 Forumite
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    I'm going at 55 no matter how little "fat" I have!
    If you want to be rich, live like you're poor; if you want to be poor, live like you're rich.
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