so the plan now is..............

[Deleted User]

If from 67 you have a full state pension of £9175 and a drawdown of 3.5% of your remaining £170000 that gives you an income of just over £15000 a year. Even without any growth that should take you to age 95. Very simple calculations I admit, and there is inflation to consider. There again the state pension part will be index linked hopefully!

LHW99

[Deleted User] said:

If from 67 you have a full state pension of £9175 and a drawdown of 3.5% of your remaining £170000 that gives you an income of just over £15000 a year. Even without any growth that should take you to age 95. Very simple calculations I admit, and there is inflation to consider. There again the state pension part will be index linked hopefully!

But that perhaps ignores another significant drop in markets - SPA is index linked, but investments do not grow linearly, and while the average rate may be good, a fall at the wrong time can throw everything out

[Deleted User]

LHW99 said:

[Deleted User] said:

If from 67 you have a full state pension of £9175 and a drawdown of 3.5% of your remaining £170000 that gives you an income of just over £15000 a year. Even without any growth that should take you to age 95. Very simple calculations I admit, and there is inflation to consider. There again the state pension part will be index linked hopefully!

But that perhaps ignores another significant drop in markets - SPA is index linked, but investments do not grow linearly, and while the average rate may be good, a fall at the wrong time can throw everything out

Absolutely agree. That's why I admitted to very simple calculations.

clive0510

[Deleted User] said:

clive0510 said:

[Deleted User] said:

You mean £1250 a month from your pension from age 65 until the state pension at 67?

yes indeed. topped up by my other money and savings I have. then at 67 reduce it because the state pension will come in to play.

Thank you. I still think it is important to keep an emergency fund of at least £10000. Are you still paying into your pension?

[Deleted User] said:

clive0510 said:

[Deleted User] said:

You mean £1250 a month from your pension from age 65 until the state pension at 67?

yes indeed. topped up by my other money and savings I have. then at 67 reduce it because the state pension will come in to play.

Thank you. I still think it is important to keep an emergency fund of at least £10000. Are you still paying into your pension?

[Deleted User] said:

clive0510 said:

[Deleted User] said:

You mean £1250 a month from your pension from age 65 until the state pension at 67?

yes indeed. topped up by my other money and savings I have. then at 67 reduce it because the state pension will come in to play.

Thank you. I still think it is important to keep an emergency fund of at least £10000. Are you still paying into your pension?

yes I am.I'm paying into my workplace pension and also my own private pension which was set up over 30yrs ago when I was advised to opt out of serps. I'm also paying in monthly to an isa i have and premium bonds via direct debit.

clive0510

I can only do what I think is correct at that time.you only have to look at world events over the last 6 months. if we knew what the future of this world holds in store.............