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How much should a pension pot be worth?
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TTMCMschine
Old 02-01-2008, 5:04 PM
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Default How much should a pension pot be worth?

Hello,
slightly difficult question I know, but how much money should we have in our pension pots by the time we retire?

I imagine that there's a standard x thousand pounds in the pot will give you y thousand per year type equation?

Can anyone shed any light please?
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EdInvestor
Old 02-01-2008, 5:11 PM
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Look at 100k per 5k of income: so if you want an income of 20k, you'll need 400k in the pot.

If you want fancy add-ons like index linking for inflation, spouse and dependants pensions and guarantees, be prepared to pay a lot more. For instance the basic state pension would cost about 150k if bought on the open market.
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dunstonh
Old 02-01-2008, 5:20 PM
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5% is a good guide for income. Its historically always been achievable.
I am a Financial Adviser. Comments are for discussion purposes only. They are not financial advice. Different people have different needs and what is right for one person may not be for another. If you feel an area discussed may be relevant to you, then please seek advice from a Financial Adviser local to you.
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TTMCMschine
Old 02-01-2008, 5:22 PM
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Thanks guys.
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