Future planning at 31

dai_bach

Thank you everyone for your input, I really do appreciate it :-)

One thing I have failed to mention up until now is that we already have 1 child. I am aware of the Child Benefit Tax Charge if I go over £50k (my first post on this site was about understanding what figure is used in this calculation). I currently take the maximum child care voucher as salary sacrifice.

So to roughly summarise what I have taken from the thread:
- My 7% contributions along with my Salary sacrifice on CCV takes me down to BR tax
- We will continue to build up an emergency fund of 4-6 months of essential spending
- Once emergency pot is set we can put savings towards next house to get us down to next LTV band (undecided on whether to overpay or put into "high interest" accounts yet)
- Following our next house move we should review our position. Potentially increase pension contributions and look to start investing in some S&S ISAs
- I indirectly accrue some benefit from my wife's DB scheme

enthusiasticsaver - you mentioned regretting not overpaying your LGPS pension. Is that because you could have taken it earlier with additional payments? Are there any other advantage to putting more contributions into a DB scheme?

Thanks again.

crv1963

Hi dai_bach

Try a look at this link it might help your research on your wife pension-

https://www.nhsbsa.nhs.uk/member-hub/increasing-your-pension

In my last team a couple of colleagues were making additional contributions.