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Pensions Planning: The NUMBER
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As I know my basic NUMBER as £22k, I will seek to spend that amount whilst I am still working (55-60) PLUS 40% of any returns/income in excess of the £22k.
I can thereby (hopefully) build up my pension/savings to age 60 and during my 60-65 period I could work less but spend (say) 60% of any similar income/returns surplus.
By age 60 I would plan and hope to put my feet up! (and start fully using my pension/savings) :T
I believe that this attitude is part of the general malaise of this country today. Our fathers and forefathers worked hard and created a great country and all we have done is dissipated their efforts by in general spending money which we have not earned. Until the "protestant work ethic" grips us all again the pound will continue to fall causing inflation, we will end up being no better off than a banana republic.
Then how far will your £22K go.
Instead of recalculating your number why not put your effort into something productive?The only thing that is constant is change.0 -
I believe that this attitude is part of the general malaise of this country today. Our fathers and forefathers worked hard and created a great country and all we have done is dissipated their efforts by in general spending money which we have not earned. Until the "protestant work ethic" grips us all again the pound will continue to fall causing inflation, we will end up being no better off than a banana republic.
What a load of twaddle*. Go check your history of the 20th Century.
*twaddle [ˈtwɒdəl]n silly, trivial, or pretentious talk or writing; nonsense
vb to talk or write (something) in a silly or pretentious wayWinner winner, Chicken dinner.0 -
Your number will be different depending on where you are in life.
For me, the number is around £2700-£3000 per month after tax, and having my property paid for. It is also completely before my private pension plan becomes accessible in a few years later, hopefully adding another £1500 per month income to the pot.
But, of course, for me this won't be about retiring in the UK. It will be in Thailand.
Me too!!
Chok deeแล้วไงต่อ0 -
As I know my basic NUMBER as £22k, I will seek to spend that amount whilst I am still working (55-60) PLUS 40% of any returns/income in excess of the £22k.
I can thereby (hopefully) build up my pension/savings to age 60 and during my 60-65 period I could work less but spend (say) 60% of any similar income/returns surplus.
By age 60 I would plan and hope to put my feet up! (and start fully using my pension/savings) :T
The title of this thread is actually pretty close to the mark - why do we retire at 65 or 60 or whatever - it is so arbitrary, why not 54 years 3 months and 2 days?
I intend to retire at an income, not an age, i.e. when I've got my number, I'll be off as someone else has said, "whilst I'm fit enough to enjoy it."แล้วไงต่อ0 -
What a load of twaddle*. Go check your history of the 20th Century.
*twaddle [ˈtwɒdəl]n silly, trivial, or pretentious talk or writing; nonsense
vb to talk or write (something) in a silly or pretentious way
You go check your history of the 19th Century then perhaps you may learn something.The only thing that is constant is change.0 -
zygurat789 wrote: »I believe that this attitude is part of the general malaise of this country today. Our fathers and forefathers worked hard and created a great country and all we have done is dissipated their efforts by in general spending money which we have not earned. Until the "protestant work ethic" grips us all again the pound will continue to fall causing inflation, we will end up being no better off than a banana republic.
Then how far will your £22K go.
Instead of recalculating your number why not put your effort into something productive?
Uh????
If I have worked and saved hard all these years (like our beloved forefathers) why am I being criticised for spending it?
I am sticking with my NUMBER calculations and I WILL retire when it says I can afford to.
As for banana's ..... my £22k will go a long way thanks :rotfl:THE NUMBER is how much you need to live comfortably: very IMPORTANT as part 1 of Retirement Planning. (Average response to my thread is £26k pa)0 -
zygurat789 wrote: »Instead of recalculating your number why not put your effort into something productive?
...like Coal production? :rotfl:
...lead mining ? :rotfl:
... cotton spinning ? :rotfl:
Nah.... The NUMBER is far more productive for todays economic challenges with retirement planning.
What's YOUR NUMBER?THE NUMBER is how much you need to live comfortably: very IMPORTANT as part 1 of Retirement Planning. (Average response to my thread is £26k pa)0 -
...like Coal production? :rotfl:
...lead mining ? :rotfl:
... cotton spinning ? :rotfl:
Nah.... The NUMBER is far more productive for todays economic challenges with retirement planning.
What's YOUR NUMBER?
And we are suupposed to be a nation of invention and ingenuity, I think you've made my point.
Did you really not understand the reference to bananas? Obviously not if you think your £22k will be unaffected. Perhaps a more upto date word would have been tobacco, get the idea?The only thing that is constant is change.0 -
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