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

Sea_Shell

Audaxer said:

Sea_Shell said:

October's figures.

12 month spends to date - £17,050* (including the boiler at £2800), so really £14,250.   We're getting better at this spending malarky!!

Total pot value - £638,725 (Oct 20 = £557,174)

Made up of:
DC Pensions - £367,370
S&S ISAs - £214,300
Cash - £57,055 (including £40k PBs)

*Spends as a percentage of Oct 20 pot = 3.06%.

Well done. I notice that you have a lower percentage in cash than I had previously thought.  If you care to share, I'd be interested to learn what percentage of spend you are drawing from cash, and what percentage from your investments?  

Until April 22, we are living just on the £17,000 non PB cash.

In the new tax year DH will move to drawdown and we'll then live on that for 9 years (monthly amount to be agreed).  £175k pot.

Any remaining cash will be our backup fund.

Hopefully we'll never actually need to touch the ISAs, unless something big crops up!!

Audaxer

Sea_Shell said:

Audaxer said:

Sea_Shell said:

October's figures.

12 month spends to date - £17,050* (including the boiler at £2800), so really £14,250.   We're getting better at this spending malarky!!

Total pot value - £638,725 (Oct 20 = £557,174)

Made up of:
DC Pensions - £367,370
S&S ISAs - £214,300
Cash - £57,055 (including £40k PBs)

*Spends as a percentage of Oct 20 pot = 3.06%.

Well done. I notice that you have a lower percentage in cash than I had previously thought.  If you care to share, I'd be interested to learn what percentage of spend you are drawing from cash, and what percentage from your investments?  

Until April 22, we are living just on the £17,000 non PB cash.

In the new tax year DH will move to drawdown and we'll then live on that for 9 years (monthly amount to be agreed).  £175k pot.

Any remaining cash will be our backup fund.

Hopefully we'll never actually need to touch the ISAs, unless something big crops up!!

Thanks. When you say £175k pot, is that part of the DC pot in lower risk investments to drawdown from for the 9 years spend? 

Sea_Shell

Audaxer said:

Sea_Shell said:

Audaxer said:

Sea_Shell said:

October's figures.

12 month spends to date - £17,050* (including the boiler at £2800), so really £14,250.   We're getting better at this spending malarky!!

Total pot value - £638,725 (Oct 20 = £557,174)

Made up of:
DC Pensions - £367,370
S&S ISAs - £214,300
Cash - £57,055 (including £40k PBs)

*Spends as a percentage of Oct 20 pot = 3.06%.

Well done. I notice that you have a lower percentage in cash than I had previously thought.  If you care to share, I'd be interested to learn what percentage of spend you are drawing from cash, and what percentage from your investments?  

Until April 22, we are living just on the £17,000 non PB cash.

In the new tax year DH will move to drawdown and we'll then live on that for 9 years (monthly amount to be agreed).  £175k pot.

Any remaining cash will be our backup fund.

Hopefully we'll never actually need to touch the ISAs, unless something big crops up!!

Thanks. When you say £175k pot, is that part of the DC pot in lower risk investments to drawdown from for the 9 years spend? 

ATM those pensions are still in their original funds. (40-85 mixed asset class). It's all of DHs remaining DC pensions.   We still need to choose a fund to put the drawdown funds into.   This has yet to be nailed down!!😉


The plan is to run this down to nothing!!   So growth/loss will determine how long it lasts.

DB pensions then kick in.


ETA.  The balance of our total DC pensions are mine, which I can't access for another 5 years.

enthusiasticsaver

Sea_Shell said:

October's figures.

12 month spends to date - £17,050* (including the boiler at £2800), so really £14,250.   We're getting better at this spending malarky!!

Total pot value - £638,725 (Oct 20 = £557,174)

Made up of:
DC Pensions - £367,370
S&S ISAs - £214,300
Cash - £57,055 (including £40k PBs)

*Spends as a percentage of Oct 20 pot = 3.06%.

That is still very good.  3% as a percentage of the pot.  Well within the desired parameters I would say.  If you plan to  live for the next 9 years off just your DHs DC pots does that mean your PA will go unused? 

Sea_Shell

enthusiasticsaver said:

Sea_Shell said:

October's figures.

12 month spends to date - £17,050* (including the boiler at £2800), so really £14,250.   We're getting better at this spending malarky!!

Total pot value - £638,725 (Oct 20 = £557,174)

Made up of:
DC Pensions - £367,370
S&S ISAs - £214,300
Cash - £57,055 (including £40k PBs)

*Spends as a percentage of Oct 20 pot = 3.06%.

That is still very good.  3% as a percentage of the pot.  Well within the desired parameters I would say.  If you plan to  live for the next 9 years off just your DHs DC pots does that mean your PA will go unused? 

Yes, mostly.

I've transferred some using the marriage allowance, which DH has used.   Just awaiting his tax rebate from his recent lump sum drawdown.

I can't access my pension for another 5 years, so the rest of my PA will effectively go to waste ☹️... Unless I get a job! 🤣🤣

enthusiasticsaver

Sea_Shell said:

enthusiasticsaver said:

Sea_Shell said:

October's figures.

12 month spends to date - £17,050* (including the boiler at £2800), so really £14,250.   We're getting better at this spending malarky!!

Total pot value - £638,725 (Oct 20 = £557,174)

Made up of:
DC Pensions - £367,370
S&S ISAs - £214,300
Cash - £57,055 (including £40k PBs)

*Spends as a percentage of Oct 20 pot = 3.06%.

That is still very good.  3% as a percentage of the pot.  Well within the desired parameters I would say.  If you plan to  live for the next 9 years off just your DHs DC pots does that mean your PA will go unused? 

Yes, mostly.

I've transferred some using the marriage allowance, which DH has used.   Just awaiting his tax rebate from his recent lump sum drawdown.

I can't access my pension for another 5 years, so the rest of my PA will effectively go to waste ☹️... Unless I get a job! 🤣🤣

  One of the very few disadvantages of very early retirement I guess.  No way round that if you are too young to access the pension.  I have transferred some of my allowance to my DH as his pension is over the PA whereas mine is just below.  I will need it back though once my next pension kicks in.   

cfw1994

Sea_Shell said:

Audaxer said:

Sea_Shell said:

Audaxer said:

Sea_Shell said:

October's figures.

12 month spends to date - £17,050* (including the boiler at £2800), so really £14,250.   We're getting better at this spending malarky!!

Total pot value - £638,725 (Oct 20 = £557,174)

Made up of:
DC Pensions - £367,370
S&S ISAs - £214,300
Cash - £57,055 (including £40k PBs)

*Spends as a percentage of Oct 20 pot = 3.06%.

Well done. I notice that you have a lower percentage in cash than I had previously thought.  If you care to share, I'd be interested to learn what percentage of spend you are drawing from cash, and what percentage from your investments?  

Until April 22, we are living just on the £17,000 non PB cash.

In the new tax year DH will move to drawdown and we'll then live on that for 9 years (monthly amount to be agreed).  £175k pot.

Any remaining cash will be our backup fund.

Hopefully we'll never actually need to touch the ISAs, unless something big crops up!!

Thanks. When you say £175k pot, is that part of the DC pot in lower risk investments to drawdown from for the 9 years spend? 

ATM those pensions are still in their original funds. (40-85 mixed asset class). It's all of DHs remaining DC pensions.   We still need to choose a fund to put the drawdown funds into.   This has yet to be nailed down!!😉


The plan is to run this down to nothing!!   So growth/loss will determine how long it lasts.

DB pensions then kick in.


ETA.  The balance of our total DC pensions are mine, which I can't access for another 5 years.

Is one option to just leave them in the same funds?
My Aviva pot defaults to that behaviour: eg, if I crystallise 100k (take £25k out as TFLS), then the £75k is stored as a drawdown part of the account, but remains invested in the same funds.
If they have performed well, why change them!

Sea_Shell

cfw1994 said:

Sea_Shell said:

Audaxer said:

Sea_Shell said:

Audaxer said:

Sea_Shell said:

October's figures.

12 month spends to date - £17,050* (including the boiler at £2800), so really £14,250.   We're getting better at this spending malarky!!

Total pot value - £638,725 (Oct 20 = £557,174)

Made up of:
DC Pensions - £367,370
S&S ISAs - £214,300
Cash - £57,055 (including £40k PBs)

*Spends as a percentage of Oct 20 pot = 3.06%.

Well done. I notice that you have a lower percentage in cash than I had previously thought.  If you care to share, I'd be interested to learn what percentage of spend you are drawing from cash, and what percentage from your investments?  

Until April 22, we are living just on the £17,000 non PB cash.

In the new tax year DH will move to drawdown and we'll then live on that for 9 years (monthly amount to be agreed).  £175k pot.

Any remaining cash will be our backup fund.

Hopefully we'll never actually need to touch the ISAs, unless something big crops up!!

Thanks. When you say £175k pot, is that part of the DC pot in lower risk investments to drawdown from for the 9 years spend? 

ATM those pensions are still in their original funds. (40-85 mixed asset class). It's all of DHs remaining DC pensions.   We still need to choose a fund to put the drawdown funds into.   This has yet to be nailed down!!😉


The plan is to run this down to nothing!!   So growth/loss will determine how long it lasts.

DB pensions then kick in.


ETA.  The balance of our total DC pensions are mine, which I can't access for another 5 years.

Is one option to just leave them in the same funds?
My Aviva pot defaults to that behaviour: eg, if I crystallise 100k (take £25k out as TFLS), then the £75k is stored as a drawdown part of the account, but remains invested in the same funds.
If they have performed well, why change them!

Yes, that is an option and maybe we will.   

DH's first part to be drawdown is his main Aviva pot (£60k), and he moved to a slightly more risky (but better performing) fund a couple of years ago.   So his idea was to maybe drop back down a risk level, with the d/d fund to protect it a bit. 

He does also have Aegon (£115K), but as this currently has low (or no) charges, he'll leave this be for now, until the Aviva pot almost runs out, and then transfer it in.   He doesn't want to say with Aegon for d/d.

Anonymous101

enthusiasticsaver said:

Sea_Shell said:

enthusiasticsaver said:

Sea_Shell said:

October's figures.

12 month spends to date - £17,050* (including the boiler at £2800), so really £14,250.   We're getting better at this spending malarky!!

Total pot value - £638,725 (Oct 20 = £557,174)

Made up of:
DC Pensions - £367,370
S&S ISAs - £214,300
Cash - £57,055 (including £40k PBs)

*Spends as a percentage of Oct 20 pot = 3.06%.

That is still very good.  3% as a percentage of the pot.  Well within the desired parameters I would say.  If you plan to  live for the next 9 years off just your DHs DC pots does that mean your PA will go unused? 

Yes, mostly.

I've transferred some using the marriage allowance, which DH has used.   Just awaiting his tax rebate from his recent lump sum drawdown.

I can't access my pension for another 5 years, so the rest of my PA will effectively go to waste ☹️... Unless I get a job! 🤣🤣

  One of the very few disadvantages of very early retirement I guess.  No way round that if you are too young to access the pension.  I have transferred some of my allowance to my DH as his pension is over the PA whereas mine is just below.  I will need it back though once my next pension kicks in.   

I've thought about this a fair amount as my wife is several years younger than me so we are likely in a similar scenario to SS. One of the idea's that we have is to start our own company. Perhaps that would involve one of us consulting and the other assisting running the business etc to make best use of our tax allowances. This could be a route to even us our pensions too.

Sea_Shell

Well, no wins on the PB's in their first eligible draw. 

I've just opened an account with Loanpad, a P2P platform.   Just with £250 so far, with a view to increase this to about £5000 once DH gets his tax rebate.   (There is a separate thread about that - so if you want to discuss this matter specifically, please search it out)

Loanpad P2P - any reviews, experience of them here? Worth a dabble? — MoneySavingExpert Forum

I'll post about the highs (and possibly lows) here, when I have any pertinent information to impart!