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pension calculator
markinsouthsea
Posts: 21 Forumite
I don't seem to be able to find a calculator that does what I am looking for.
I propose to retire in 6 years time, I will have a pension pot that I will use under the new rules to take an annual drawdown.
Approx figures are for the sip is likely to be £65.000
I want to have £3000 pa net, (£250 to my bank account monthly) using the 25% tax free element each year on the amount I withdraw, no lump sum tax free element required in my case.
What I wanted to see was how long I could carry on with this arrangement before the money ran out.. As the majority of the fund will remain invested I was hopeful that the amounts withdrawn will be covered to a certain extent by the growth in the fund. I was going to assume annual net growth of 5%
Can anyone point me in the right direction?
I propose to retire in 6 years time, I will have a pension pot that I will use under the new rules to take an annual drawdown.
Approx figures are for the sip is likely to be £65.000
I want to have £3000 pa net, (£250 to my bank account monthly) using the 25% tax free element each year on the amount I withdraw, no lump sum tax free element required in my case.
What I wanted to see was how long I could carry on with this arrangement before the money ran out.. As the majority of the fund will remain invested I was hopeful that the amounts withdrawn will be covered to a certain extent by the growth in the fund. I was going to assume annual net growth of 5%
Can anyone point me in the right direction?
0
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Google 'FireCalc'0
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markinsouthsea wrote: »I don't seem to be able to find a calculator that does what I am looking for.
I propose to retire in 6 years time, I will have a pension pot that I will use under the new rules to take an annual drawdown.
Approx figures are for the sip is likely to be £65.000
I want to have £3000 pa net, (£250 to my bank account monthly) using the 25% tax free element each year on the amount I withdraw, no lump sum tax free element required in my case.
What I wanted to see was how long I could carry on with this arrangement before the money ran out.. As the majority of the fund will remain invested I was hopeful that the amounts withdrawn will be covered to a certain extent by the growth in the fund. I was going to assume annual net growth of 5%
Can anyone point me in the right direction?
Here are a couple
http://howlongwillmyfundlast.co.uk/Calculator.html
http://howlongwillmyfundlast.co.uk/Calculator2.html0
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