Can I now kick back and cruise to the finish line?

DrDT

Thrugelmir said:

DrDT said:

Desired income is 40k/yr from 55 to 59 and 36k/yr from 60 on.

Gross or net? 

These are gross figures.

Albermarle

Clive_Woody said:

Albermarle said:

neilnockie said:

tcallaghan93 said:

Short answer: you're sorted.

Long answer:
Breakdown the 470 into how much is DC and how much is ISA would be helpful because obviously you don't need to worry about the effect of tax on take home. Also, how much is in your name how much is in OH's name?

Cab you take any of your db pension early? What schemes are they in? Do they have a modeller or actuarial reduction calculator?
Generally, dB schemes work out about the same if you live to life expectancy (I.e. 7k from 60 to LE ~ 85 is 175k total in real terms, say it's ~4% less if taken from 59, you'll probably still end up getting 175k total over your lifetime). Also check if your OH's lump sum is automatic or if it can be converted into extra income. If so, if the commutation rate is £1 income = £12 lump sum it isn't worth it, but my dad has a USS pension and they concert £1 income into £23.50 lump sum and since he's retiring at 60, and his dad died at 82, and it's not a huge pension only lose £200 pa if taken the default option

The way I'm working it out for my mum and dad is working back from total income after the state pensions, using that as a target income to acheive between target retirement age 60 and then.

Obviously this is only a rough post but make sure you plan out each year in detail and work out the effect of taxes of drawdown from DC pens.

Your plan sounds like you're sorted as long as any reduced income is at least enough to comfortably cover cost of living between now and 55.

Your investment plan is very conservative which is good - planning for a 30% crash and only an inflation return.

The only iffy thing is that your 470k is for short-ish term use between 51 and 67, so conventual wisdom says lean towards bonds or cash. But because of negative real yields you need to lean towards equity to get a worthwhile return.

This makes no sense at all. You need to transfer your DB cash into a DC pension and then invest in funds you're certain will achieve double figure returns. Think 12,13,15% - forget the stock market 'average'. You need to PAY for premium returns. 

The poster just appeared yesterday and has made the same wild comments on a few threads. 

And no doubt is hopefully people will send him/her a PM asking how they achieve such fantastic returns.....and that's when the scam starts

He has been reported to MSE 4 times .