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What is a GOOD pension Pot to retire on??
Comments
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I'd like to plan for the same income (adjusted for no pension contributions, mortgage, NI, anything else relevant) and if require less money (no commuting etc) then see that as an upside0
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We're aiming for £5k pcm after all taxes. Without any DB pension, this requires a pretty large pot, but we've been working hard on pensions, PEPs/ISAs, etc. since the late 80s.
Since my earlier comments on this thread, there have been organisational changes that will make me leaving work much easier and I'm aiming for mid 2018.
However, I have just bunged £25k into starting a new business with some old mates, so doubt that I'll be idle.I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.
Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.0 -
Sounds interesting Gadget, and yes we are aiming for around the same figure as you. Also thinking of retirement end of 2018.
So I am guessing your company with have something to do with Tech. Or Cars. Or tech and cars lol0 -
Gadgetmind once effectively named the boss, by giving a description that only one person could match. Assuming it was true rather than diversion, of course.0
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I am hoping for £50k PA for the first 10 years of retirement (starting age 50) then probably more like £30k after that.
Big numbers for us compared to our income - needs lots of effort and regular reviews of how we are doing. (esp as cant rely on pension due to retiring early)0 -
I think I would struggle mightily to spend £50k PA for 10 years of retirement and then reduce that to £30k after that, I would tend to get used to the life!I am hoping for £50k PA for the first 10 years of retirement (starting age 50) then probably more like £30k after that.
Having said that I would struggle to spend £50k anyway!0 -
gadgetmind wrote: »We're aiming for £5k pcm after all taxes.
We weren't getting that when we were both working !! One can only dream :rotfl:0 -
I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.
Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.0 -
Gadgetmind once effectively named the boss, by giving a description that only one person could match. Assuming it was true rather than diversion, of course.
I'm not smart enough for diversion!
As it happens, a few people have PMd me over the years to ask what I do, and I've mostly told them. I'm not coy but don't want my (often drunken) rantings on the interwebs to show my employer in a bad light as I still enjoy the work.I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.
Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.0 -
brewerdave wrote: »We weren't getting that when we were both working !! One can only dream :rotfl:
As it happens, our joint take home is less than this, but that's because we're putting a larger sum each month into pensions. I also get some bonuses, which go straight into ISAs.I am not a financial adviser and neither do I play one on television. I might occasionally give bad advice but at least it's free.
Like all religions, the Faith of the Invisible Pink Unicorns is based upon both logic and faith. We have faith that they are pink; we logically know that they are invisible because we can't see them.0
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