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What to do with my dosposable income to help with early retirement
pstones578
Posts: 480 Forumite
I'm almost at the point of paying off my mortgage and have no kids / wife etc. I'm 45 and have approx £2,500 a month disposable income so I'm wondering what best to do with this over the next 10 years with a view to stop working at 55 if possible. If I just keep saving the £2,500 in the bank, in 10 years I will have £250k+interest but there must be better ways of putting this money to work.
Would appreciate your views.
Thanks for your time.
Would appreciate your views.
Thanks for your time.
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Peter Stones
Peter Stones
0
Comments
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If you're looking at investing upwards of a quarter of a million over the next decade, well worth spending some cash now on getting proper advice from an IFA based on a full understanding of your situation, aspirations, risk appetite etc.Googling on your question might have been both quicker and easier, if you're only after simple facts rather than opinions!2
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You could spend some time reading the forum as very similar questions get asked all the time .
Apart from that the first obvious question is what is your pension situation ? and your approx current salary level .
At your age and your wish to retire in 10 years topping up your pension is the most obvious option ( based on the limited info supplied )0 -
What pension provision do you have in place? That £250k may have to last you many years.0
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What is your desired income in retirement? That is What is your NUMBER?
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