What number are you aiming for - solely DC pot

garmeg

ratechaser said:

My number... let me think... 

That would be well over the LTA.

Dandytf

Black_Cat2 said:

I guess my target of £60,000 total pension pot is extremely low but that's about all I will have 🤔

I predict 60K becomes National Average.
What plans can you suggest, to make most of 60k range.

Dandytf

I have considerable DC AVC;s contributions increase planned during 2021.
Hopefully, /i can achieve 100k range total pot, from DB+DC
To date combined 55K+14.5K
Not including recent Isa (planned for 10-15 years)
No idea how to plug gap between mid 50's and SPA. (I'm 47)

Mistermeaner

Dandytf said:

Black_Cat2 said:

I guess my target of £60,000 total pension pot is extremely low but that's about all I will have 🤔

I predict 60K becomes National Average.
What plans can you suggest, to make most of 60k range.

The unfortunate reality is that the best you could expect (sustainably) is 3-4% a year from that pot - so 1800 - 2400 per annum 

this is reality many people are going to face 

cfw1994

Clive_Woody said:

Deleted_User said:

This is a thread for boasting.  Cool

No, it's more for discussing people's plans.

I earn a decent salary, I know people who earn a lot more and people who earn a lot less. I don't get jealous of those who earn more than me, that would not be healthy and would change nothing.

The thread title was "What number are you aiming for" - some people are happy to answer that. If you're not then no worries, it's not obligatory.

Agreed....Sorry if it came across like boasting, Mordko....there are a good 20-30 posts each day to this board, no-one is obliged to read them all!
As Imelda said, it is quite likely people with DB pensions paying £30k or more guaranteed a year are in a better position than someone with £1 million in a D.C. pot!
Ahhhh, a million isn’t what it once was   

The effect of compounding can ramp things up in later years too.  Clearly impossible to predict with accuracy, but “time in the market” is a phrase for a reason.  To youngsters whose pot sounds tiny at a few thousand.....the years flash by, and the number accelerate - it’s a marathon, not a sprint! 

L9XSS

200k in DC pot to use from 57 to 64. DB pensions then kicks in...........

Dandytf

Mistermeaner said:

Dandytf said:

Black_Cat2 said:

I guess my target of £60,000 total pension pot is extremely low but that's about all I will have 🤔

I predict 60K becomes National Average.
What plans can you suggest, to make most of 60k range.

The unfortunate reality is that the best you could expect (sustainably) is 3-4% a year from that pot - so 1800 - 2400 per annum 

this is reality many people are going to face 

Which is why I plan to double AVC'c from 8% up to 16% during 2021.

Mistermeaner

I'm still surprised how little pensions are discussed PROPERLY in the media - particularly when a fuss is made about e.g. nurses pay etc. - a factual presentation of the real terms value of NHS pensions (and other public sector pensions) compared to what huge numbers of people in the private sector get might shape peoples thinking somewhat.
This isn't begrudging anyone anything - we all make our choices; but feel alot of folk live in ignorance of either the great benefits that they get or indeed to major issues the may face.

[Deleted User]

Mistermeaner said:

Dandytf said:

Black_Cat2 said:

I guess my target of £60,000 total pension pot is extremely low but that's about all I will have 🤔

I predict 60K becomes National Average.
What plans can you suggest, to make most of 60k range.

The unfortunate reality is that the best you could expect (sustainably) is 3-4% a year from that pot - so 1800 - 2400 per annum 

this is reality many people are going to face 

That’s not “reality”. That’s a random prediction.  Predictions are not worth all that much. Even less when there is no period of time specified or whether its in real terms. 

michaels

Mistermeaner said:

I'm still surprised how little pensions are discussed PROPERLY in the media - particularly when a fuss is made about e.g. nurses pay etc. - a factual presentation of the real terms value of NHS pensions (and other public sector pensions) compared to what huge numbers of people in the private sector get might shape peoples thinking somewhat.
This isn't begrudging anyone anything - we all make our choices; but feel alot of folk live in ignorance of either the great benefits that they get or indeed to major issues the may face.

I started a thread on this suggesting that it amounted to an extra 60% (ish, can't quite remember) on the average public sector salary, some with DBs didn't like to hear but that was the consensus number.