The plan and the numbers - please critique

AnotherJoe

Mistermeaner wrote: »

i've never really been popular in my house

one day, long after i'm gone, some of them may have a little chuckle and think 'dad was right'

maybe.....

There's a 1 in 12 chance (for a newborn) they wont get the ability to use that pension and know that "dad was right" and for the rest of that time they'll be thinking "dad was wrong I could be in a much better house now" or even "dad was wrong i could be in a house now"

Mistermeaner

AnotherJoe wrote: »

There's a 1 in 12 chance (for a newborn) they wont get the ability to use that pension and know that "dad was right" and for the rest of that time they'll be thinking "dad was wrong I could be in a much better house now" or even "dad was wrong i could be in a house now"

Where does the 1 in 12 come from ?

If it's life expectancy then are you sure 1 in 12 folk born today won't make 57 (or whatever the age is then)?

State pension age maybe but you also need factor in their socio economic status - these kids are born advantaged and I would expect have a much higher life expectancy then average

Also early access to sipps is possible in event of terminal illness

Mistermeaner

Add to all this that I expect (guess) sipps will be phased out in the course and replaced with isas - having a sipp open may preserve access to certain tax benefits that will be withdrawn for new entrants

lisyloo

20% for men before 65

http://home.bt.com/lifestyle/wellbeing/did-you-know-20-of-men-die-before-retirement-age-11363985764112

Yes you can release early if you have a terminal diagnosis but not everyone will be well enough to enjoy it.