Hoping to retire early- My plan

blisteringblue

cfw1994 said:

I follow @cfiresim on Twitter......she pointed out a @MichaelKitces piece that postulates that for any given moment, a 50% success rate is all you need, so long as you re-evaluate every year and adjust.

Your numbers sound feasible (not run them through my magic spreadsheet to confirm - several here you can try)....40k, for most people in most of the UK would give a luxury retirement, according to Which? magazine.

I’d say go for it......but monitor, evaluate & adjust!

That's the spreadsheet I was talking about    Thanks CFW

Holls_dad

Update after few years longer and looking for comments on if you think I enough to retire this Xmas at 52 

Figures as below now for both 

£250k in saving/isas etc
£685k in DC pension pot
At 65 defined benefit of £20k per year along with full State Pension for both at 67 £23k

No mortgage 

Plan is OH would like to work another 8 years in small part time job £14k year till 60

Think we can easily live on £42k so would only need £28k from the above figures for next 8 years with OH pay

michaels

You can use index linked govt bond ladder to cover the period until DBs become available, cost is basically the index linked amount you want to withdraw each year, this removes any inflation/market volatility risk at the cost of accepting zero real growth in the period.

Is the DC definitely accessible at age 55 given your age? (assuming no govt curve balls in the budget)

anonanon321

I think you have enough. My figures are very similar to yours and I have recently taken voluntary redundancy. Husband will do one more year.

Holls_dad

michaels said:

You can use index linked govt bond ladder to cover the period until DBs become available, cost is basically the index linked amount you want to withdraw each year, this removes any inflation/market volatility risk at the cost of accepting zero real growth in the period.

Is the DC definitely accessible at age 55 given your age? (assuming no govt curve balls in the budget)

Yes all accessible unless curve ball in the budget