Early-retirement wannabe

atush

My DC pots come out at £620k and hers £35k. We put in to hers @£20 per month but she is not a tax payer.

Does she earn any income? As even if no, you can put in more than 20/m as that comes to only 2400/yr. If she does earn, you can put in up to her full income.

Slinky

atush wrote: »

Does she earn any income? As even if no, you can put in more than 20/m as that comes to only 2400/yr. If she does earn, you can put in up to her full income.

£20/month is £240 a year. I hope it's more than that!

[Deleted User]

atush wrote: »

Does she earn any income? As even if no, you can put in more than 20/m as that comes to only 2400/yr. If she does earn, you can put in up to her full income.

Any free cash is put into my pension as I am a higher rate tax payer. I thought I might make an effort and put some into hers.

JoeEngland

westv wrote: »

Just got back from 2 weeks in Afitos, Greece. Now on the "back to work tomorrow" downer.

On the plus side no more than 10 months to go if my current fixed term contract isn't renewed either by my employer or by me.

You don't have to accept a renewal

MallyGirl

Deleted_User wrote: »

Any free cash is put into my pension as I am a higher rate tax payer. I thought I might make an effort and put some into hers.

But this needs to be balanced out by the fact that any withdrawals she makes will likely be free of tax whereas you are likely to build up enough to pay tax on at least some of yours

shinytop

Well I've gone and done it. Handed in my notice in writing that is. I'd already told my boss and some colleagues I was going but now it's official. It all feels a bit strange knowing that in 3 months, for the first time in my adult life most of my time will be my own. Strange in a good way though. If I'd planned better I could have done it earlier but I could have also ended up doing the 'just one more year' thing.

Let the countdown begin

crv1963

shinytop wrote: »

Well I've gone and done it. Handed in my notice in writing that is. I'd already told my boss and some colleagues I was going but now it's official. It all feels a bit strange knowing that in 3 months, for the first time in my adult life most of my time will be my own. Strange in a good way though. If I'd planned better I could have done it earlier but I could have also ended up doing the 'just one more year' thing.

Let the countdown begin

Well done and enjoy!

Kit_Katt

Congratulations Shiny top.... bet thats one of the best feelings ever !

bugslett

Congratulations shinytop!


I'm sitting in my half empty office by my nearly empty warehouse merrily chucking out masses of paperwork that took hours of my time and is utterly meaningless now. Frankly, it was mostly meaningless to start with!

atush

Deleted_User wrote: »

Any free cash is put into my pension as I am a higher rate tax payer. I thought I might make an effort and put some into hers.

True but make a bigger effort for her, even if you use savings to do so. She will have her own PA in retirement so you want to use that if you can.

Does she earn at all? if not put in 2880/yr which will be grossed up to 3600 by HMRC,