It's time to start digging up those Squirrelled Nuts!!!!

Tassie_Devil

CFW, please could I have a copy? I'll happily give feedback.

savingmore

savingmore said:

cfw1994 said:

Sea_Shell said:

I don't have a template as such, i just played around with Excel.

I have the following columns.

Year
Starting fund
Growth in £  (based on an adjustable % in another cell)
Fund plus growth
Estimated Spends - adjustable (linked to an adjustable inflation % each year)
Income ( nil at present and then includes DB/SP when due)
Net Balance
Number of years spends at this rate

Copy the Net balance back to the next line down as the starting fund for year 2, repeat. 
You need to play around with the formulas a bit to get them to do what you need.

It basically tells me that if i had say a starting pot of £500,000, with a 3% growth rate, that would give me growth in £ of £15,000.
If I then said I would spend £20k per year, increasing at 2% inflation, it would show i'd have £495,000 for year 2, with growth in year 2 of £14,850 and spends of £20,400.   Drag the formulas down the columns to see when (if) you run out of money!!    Using the above, shows 25 years of spending, initially, with £400,000 left after 12 years.

£166,200 of growth, to offset £266,400 of spends.  

Hope that helps.

Interesting: we are tangentially at odds with each other!
My spreaddie has a row for each year, and columns for the income streams (pensions), DC pot, investments.   
I can adjust whether I will take from the DC pot (tax implication) or investments.
I can chuck in the odd negative % growth to test it a bit.
I can try changing things (growth rates, inflation adjustments) to project when I need to take leave of this mortal form due to running out of money!
Much like The Lotus Eater, by Somerset Maughan 
If you ever fancy a copy, message me (but I will insist on feedback please - too many have shown interest then never responded - tell me it's rubbish or looks too hard if you want!)

i would love a copy and wouldn’t be happy to give feedback.  i am trying to ok work out some scenarios to see if we can retire 33 months earlier than planned.  would be most grateful!   

of course, I meant I would happily give feedback!  of course, I will once I have time to get my teeth into it, had a few days away and a crisis at work to sort out, no time yet, but hoping soon....

Sea_Shell

Morning all,

Not much to report, other than we finally booked a holiday earlier this week, for the end of September!!!   It's just to Derbyshire, so we can do a mixture of walking or mooching, depending on the weather.   We'll no doubt have to pack for all seasons!!

TBH even if it rained all week, at least it would be a different view of the rain out the window!!!

bluenose1

This will be the first year I have not gone on holiday in my adult life. We moved near the coast in February and there is still loads I haven’t done in the local area yet. So even without Covid not sure I would have gone away. Saying that I wouldn’t mind 2/3 weeks in sun in Winter if I didn’t have the youngest in his final A level year.  My gym is now back open so enjoying going there as in a lovely hotel complex so feels quite luxurious.  Plus managing some runs in the sun in the pine woods so can’t complain. After reading a book called Sapiens about the history of mankind I have decided to try and live in the moment instead of my usual worrying about the past and the future. A Buddhist approach I think!!  Haha, sorry to waffle on. 

Audaxer

Sea_Shell said:

Morning all,

Not much to report, other than we finally booked a holiday earlier this week, for the end of September!!!   It's just to Derbyshire, so we can do a mixture of walking or mooching, depending on the weather.   We'll no doubt have to pack for all seasons!!

TBH even if it rained all week, at least it would be a different view of the rain out the window!!!

Sounds good - B&B or holiday cottage? I'm not sure if we will go away again this year, but tempting to head for the coast for a change of scene.

Sea_Shell

Audaxer said:

Sea_Shell said:

Morning all,

Not much to report, other than we finally booked a holiday earlier this week, for the end of September!!!   It's just to Derbyshire, so we can do a mixture of walking or mooching, depending on the weather.   We'll no doubt have to pack for all seasons!!

TBH even if it rained all week, at least it would be a different view of the rain out the window!!!

Sounds good - B&B or holiday cottage? I'm not sure if we will go away again this year, but tempting to head for the coast for a change of scene.

Lodge, so self-catering.   Which may be FULLY self catering, if we decide not to eat in anywhere.  We'll play that bit by ear.

Law_man

cfw1994 said:

Blackcats said:

CFW May I have a copy too please.  I'm a lurker here and am always impressed, amazed (and very intimidated) by the amazing calculations folk here can do.  My feedback will definitely be from a novice's perspective 🤣

Messaged!

Another lurker. But very interested to view and feedback. Please.

Sea_Shell

Maybe this now needs it's own referrals thread? 🤔😉

Sea_Shell

Morning Everyone

Well the end of the month came and went, and we're still solvent.

Just a week to go until our holiday, so we've got everything crossed that nothing scuppers it.    So looking forward to a change of scenery, in the countryside, distanced from everyone!!!

We had a "trial" day out a week or so ago, just to Stratford-upon-Avon, mid-week, and it was lovely to stroll along the river, not too busy, and the pub we went in for lunch was nice and quiet, as eat out to help out had ended.

Sea_Shell

The other thing that's been discussed both here and elsewhere is what changes to tax and pension rules the government may bring in to help pay off the massive deficit it now has.      

What changes could they bring in that would actually effect our (financial) plans?      Other than complete economic collapse!!! 

Obviously they could reduce the PA, but that would hit lower paid workers too.
They could remove (reduce) pension tax relief, but we're past the "paying in" stage.
We're already both within the dates from which you're allowed access at 55.   I even squeak in under the new age bracket!!
If they removed access to 25% tax free, that could mean we'd have to amend our plans, but at the end of the day, if we have to pay tax, we have to pay tax.    But if we don't, we won't.
Will they do anything with ISA status?


Just thinking out loud.