Pensions Planning: The NUMBER

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  • Gatser
    Gatser Posts: 624 Forumite
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    zygurat789 wrote: »
    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

    Zygurat.... Sorry... I misled you.
    If I use 3% & 3% I agree precisely with your figures.
    My earlier result of £604016 came from using 3% + 5%!
    Perhaps that is WhiteFlags assumption.
    As an IFA he should be well placed to achieve this.

    What do you think? Could you hope to get that return over next 17 years?
    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)
  • Gorgeous_George
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    My number falls as I age. I will spend less in my late 70's than in my mid 60's.

    I hope to have half pay from my employment pensions and 25% from BTL rental income. Savings should provide a further 10%. Being mortgage free when I retire is vital.

    I could do with saving a bit more but I won't do it at the expense of my holidays and current lifestyle.

    There are a lot of rich people in the cemetery.

    GG
    There are 10 types of people in this world. Those who understand binary and those that don't.
  • Gatser
    Gatser Posts: 624 Forumite
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    I could do with saving a bit more but I won't do it at the expense of my holidays and current lifestyle.

    There are a lot of rich people in the cemetery.

    GG

    Thanks for your response.
    Totally agree about having some fun whilst you are fit and healthy.
    I have been more closely associated with dementia sufferers lately and its so sad that so many of us will go that way. a very useful wake up call as part of this pensions planning exercise.

    Good point about reducing needs too.

    I try not to think of care costs though (if needed). Self funding can cost circa £750 per week.... £35k pa ....Ouch!
    Its one area I admit to burying my head in the sand because the more you have saved up, the more you will pay (generally).

    What's your NUMBER George?
    Any breakdown so we can compare notes?
    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: »
    Zygurat.... Sorry... I misled you.
    If I use 3% & 3% I agree precisely with your figures.
    My earlier result of £604016 came from using 3% + 5%!
    Perhaps that is WhiteFlags assumption.
    As an IFA he should be well placed to achieve this.

    What do you think? Could you hope to get that return over next 17 years?
    If he can do that well playing with money why does he bother to work?
    Assumptions are yes the panacea.

    If this is how an IFA operates then I will steer well clear
    The only thing that is constant is change.
  • whiteflag_3
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    zygurat789 & Gatser

    With the greatest respect to the both of you are making assumptions without the full information. In answering your questions ( something I note neither of you have the good manners to reciprocate) I have merely given you the information you asked for - not once have asked what I already have in pensions, savings and investments etc.

    Again its easier just to mock and only shows both of you have only a basic understanding of financial planning. If you cant ask me the correct questions I can only assume you are unable to ask yourself the same serious questions.
  • whiteflag_3
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    I could do with saving a bit more but I won't do it at the expense of my holidays and current lifestyle.

    There are a lot of rich people in the cemetery.

    GG

    Well said George, there are far to many that dont live the lifestyle they could and go the grave with too much money.

    When we get potential new clients the first thing we ask them is " if we can show you a way of doing all the things you want to do today and into the future without fear of ever running out of money and not paying any more tax than is necessary, is that something that you would be interested in?" The inevitable answer is "yes" because thats really what 99% of people are interested in. Its all about lifestyle
  • Gatser
    Gatser Posts: 624 Forumite
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    whiteflag wrote: »
    zygurat789 & Gatser

    ... and only shows both of you have only a basic understanding of financial planning. If you cant ask me the correct questions I can only assume you are unable to ask yourself the same serious questions.
    People who think they know everything infuriate those of us who do.:rotfl:

    Sorry, I had not realised we have to be Financial Planning professionals to post on here.
    A boss of mine once said "You can never ask me an incorrect question, but I can give you an incorrect answer!" :T
    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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    whiteflag wrote: »
    zygurat789 & Gatser

    With the greatest respect to the both of you are making assumptions without the full information. In answering your questions ( something I note neither of you have the good manners to reciprocate) I have merely given you the information you asked for - not once have asked what I already have in pensions, savings and investments etc.
    Your answer , if it can be called that, was somewhat less than adequate and it was you who did not have the good manners to respond. I would not ask you such personal questions but merely asked a general one which you have totally ignored and left others to justify.
    Again its easier just to mock and only shows both of you have only a basic understanding of financial planning. If you cant ask me the correct questions I can only assume you are unable to ask yourself the same serious questions.
    Now who's making rash assumptions. I only asked the question I wanted to know the answer to, why is that not the correct question.
    Does IFA stand for Indepedent Financial Assumer or is it just another name for an insurance salesman?
    The only thing that is constant is change.
  • whiteflag_3
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    Gatser wrote: »


    Sorry, I had not realised we have to be Financial Planning professionals to post on here.

    Neither did I, I just find it amazing that you started this interesting thread yet instead of now trying to learn something or post meaningfull questions that might benefit other readers, you have chosen to use it a platform for mocking the one Financial Planning professional who has posted.
  • whiteflag_3
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    Your answer , if it can be called that, was somewhat less than adequate and it was you who did not have the good manners to respond. I would not ask you such personal questions but merely asked a general one which you have totally ignored and left others to justify.



    Really sorry, why would I ignore a reasonable question - Ive checked the thread but cant see what your refering to. Can you please clarify?
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