Pensions Planning: The NUMBER

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  • Gatser
    Gatser Posts: 624 Forumite
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    whiteflag wrote: »
    ..... After all I only spend all day everyday helping people understand their financial situation, how to make the most of their life ..........

    Good for you.
    You are lucky... :rolleyes:

    whiteflag wrote: »

    It amazes me that you started "The Number" thread yet dont get it yourself.


    Oh YES I do, my friend.

    What's your NUMBER Whiteflag? ;)
    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)
  • Gatser
    Gatser Posts: 624 Forumite
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    whiteflag wrote: »
    .... using the most sophisticated cashflow forecasting tools available to financial planners...

    Forecast = Guess.

    Sophisticated Forecast = Clever Guess

    "That Don't Impress Me Much" (Shania Twain)
    Nice Video too! ;)
    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)
  • whiteflag_3
    whiteflag_3 Posts: 1,395 Forumite
    edited 20 December 2009 at 11:47PM
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    Gatser wrote: »
    Forecast = Guess.

    Sophisticated Forecast = Clever Guess
    Shame on you ! you really dont get it do you -

    Rather than asking sensible questions that might help other readers you lower yourself to being sarcastic and mocking the very people that might be able to help.

    I know my number and I know its accurate ( £44,000) note no stupid wink!
    Good for you.
    You are lucky... :rolleyes:

    Well if you say so. Ill just keep doing what Im doing and helping people find their "NUMBER" !!!! Its what I do- hence my interest in your first post and my non sarcastic reply!!!!.

    "Touch of sarcasm Whiteflag?" (Gatser)- No video either
  • Gatser
    Gatser Posts: 624 Forumite
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    whiteflag wrote: »
    ....... you really dont get it do you -

    ....... mocking the very people that might be able to help.

    ....... no stupid wink!

    * Maybe not, but I am learning, Are you? (Maybe not)
    * No, I was only mocking the suggestion that your sophisticated forecasting systems are capable of guessing the future accurately. Such a system has yet to be invented.
    * Not a stupid wink, just a friendly wink...;)

    Your NUMBER is interesting.... how is that made up?
    I might need to increase mine and stop being so frugal...
    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)
  • whiteflag_3
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    [QUOTE=Gatser;28037075* No, I was only mocking the suggestion that your sophisticated forecasting systems are capable of guessing the future accurately.

    [/QUOTE]
    What experience have you got of forecasting systems? I spent the last three years looking at them so I would be interested to learn where you have learned enough to put you in a positition where you feel you are able to mock my posts?
    Such a system has yet to be invented

    Well my research leads me to believe they have been. There over 1000 financial planning firms in the UK using the system successfully so what makes you think they havent been invented?
  • zygurat789
    zygurat789 Posts: 4,263 Forumite
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    whiteflag wrote: »

    I know my number and I know its accurate ( £44,000) note no stupid wink!

    And how much per month over how long do your sophisticated forecaster reckon this will take?
    The only thing that is constant is change.
  • whiteflag_3
    whiteflag_3 Posts: 1,395 Forumite
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    zygurat789 wrote: »
    And how much per month over how long do your sophisticated forecaster reckon this will take?

    A surplus of income over expenditure of £18000 pa escalating at 3% per annum for the next 17 years.

    So whats your number and how have you calculated it?
  • zygurat789
    zygurat789 Posts: 4,263 Forumite
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    whiteflag wrote: »
    A surplus of income over expenditure of £18000 pa escalating at 3% per annum for the next 17 years.

    So whats your number and how have you calculated it?

    The back of my envelope says that will amount to just over £400,000 which at a (very generous) 6% gives a pension of £24,000 pa.
    The only thing that is constant is change.
  • Gatser
    Gatser Posts: 624 Forumite
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    zygurat789 wrote: »
    The back of my envelope says that will amount to just over £400,000 which at a (very generous) 6% gives a pension of £24,000 pa.

    My spreadsheet came up with nearer £600k because I increased the £18k by 3% pa AND added in interest of 3%pa) Drawdown at 7.3% on £600k would be £44k ....
    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)
  • zygurat789
    zygurat789 Posts: 4,263 Forumite
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    Gatser wrote: »
    My spreadsheet came up with nearer £600k because I increased the £18k by 3% pa AND added in interest of 3%pa) Drawdown at 7.3% on £600k would be £44k ....

    Total contribution £391,709
    Interest (calculated the most generous way) £114.063

    I'm not trying to tell you financial adiisor wizards how to suck eggs, just teach me your math
    The only thing that is constant is change.
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