How much is enough?

chucknorris

Broken_Biscuits wrote: »

well done chuck, would you be prepared to give an indication of how early you are retiring and percentages wise what you saved?

thanks

Good_bad_and_ugly wrote: »

Chuck,

Enjoy your mistake - don't you just hate it when you get things wrong?!

Thanks, I will be 58 when I retire, next July, it was mainly done with property in London, we have 8 investment properties there (although my MIL lives rent free in one of them). So % don't really come into it, for years my portfolio was almost (obviously there was a bit of cash too, but no equities) 100% property. Currently it is (I had to check my spreadsheet because I have just sold quite a bit of my shares, when the ftse 100 broke the 7,000 barrier):

9% cash (about 6-7% will go back into shares if the market slumps)
11% pension (mainly DB)
13% shares
19% home
48% investment property (this % is actually higher for us, these are just my %'s, so my wife's 3.5 houses are excluded).

[Deleted User]

Hi,

depends what you want in retirement, couple of pints :beer: and the craic down the pub or a world cruise.

N1AK

Broken_Biscuits wrote: »

ive stuck to rule 1 or better since 18.
rule 2 sounds like a load of rubbish to me. If i got a pay rise that doubled my pay, id just save considerably more rather than adjust my spending to match.

i probably get by on a little over the equivalent of minimum wage. The rest gets invested.

And rule 1 would sound like rubbish to someone who has paid off mortgage etc, spends rather than investing and intends to indulge in some expensive activities in retirement.

It should be pretty obvious that no one sentence answer to pensions is going to work for everyone; just because one doesn't work for you as an individual doesn't mean it isn't helpful as guidance.

Broken_Biscuits

chucknorris wrote: »

Thanks, I will be 58 when I retire, next July, it was mainly done with property in London, we have 8 investment properties there (although my MIL lives rent free in one of them). So % don't really come into it, for years my portfolio was almost (obviously there was a bit of cash too, but no equities) 100% property. Currently it is (I had to check my spreadsheet because I have just sold quite a bit of my shares, when the ftse 100 broke the 7,000 barrier):

9% cash (about 6-7% will go back into shares if the market slumps)
11% pension (mainly DB)
13% shares
19% home
48% investment property (this % is actually higher for us, these are just my %'s, so my wife's 3.5 houses are excluded).

i can see how it makes sense to invest outside your pension.
the trouble is if you fancy retiring early and your main investment is your pension, like mine is, you don't have any options.
about 50% of my money is in my pension. Fantastic if in the next 25 years they don't change rules on access. Unlikely that it wont be pushed up a few years. In the last year or so ive started putting 3 times the pension contributions into an isa instead.

i guess if i get to late 40s and realise early retirement isn't happening, then I'll go heavy back into pensions.

nice to see a success story though.