Hoping to retire early- My plan

Holls_dad

Been putting around £50k a year in contributions, my equities is around 65% in the various funds I have

Dazed_and_C0nfused

https://forums.moneysavingexpert.com/discussion/comment/81875921#Comment_81875921

Do you mean the plan you posted earlier this afternoon isn't your actual plan?

55-60 Use tax free lump sum £225k from DC pot and wife’s 19k a year

Notfarfromtheborder

You are doing well with £1.15M in spendable assets and a decent db scheme, congratulations, you are winning the game

53 is young to retire, any options on going Part time?

Who's is DB scheme, what is dependents pension?

Might want to look at first death, how do your numbers look then for either party with only one state pension?

Notfarfromtheborder

One further thought, who's is DC pension?

If its all yours then you are also wasting your wifes tax free allowances post 60.

Could she pay £7K per year into a pension meaning she is paying no tax now, and will be able to withdraw tax free post 60?

Yorkie1

You might also want to look at the maths if your wife decides not to carry on with her job until she is 60; how you would fill the £19K income gap if she decided that she wanted to follow you into full flexibility rather than work.

Holls_dad

https://forums.moneysavingexpert.com/discussion/comment/81875997#Comment_81875997

My DC is 810k and my other half is 90k

Holls_dad

https://forums.moneysavingexpert.com/discussion/comment/81875958#Comment_81875958

No plan for part time but may change my mind

Both DBs have 50% for dependents

Yes numbers would be an issue at first death however still have 155k savings and 260k DC pot at 67