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Retired plan - Advice required
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OP have you done a budget? How is your pot invested? If it's all in bonds then even 3.5% drawdown might be optimistic for the next decade. Do you have a cash buffer to protect against stock/bond market down turns or any sources of guaranteed income? Do you have any debt or a mortgage? Your plan might work, but you haven't given us enough information to comment sensibly.“So we beat on, boats against the current, borne back ceaselessly into the past.”0
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Are you sure your SP kicks in when your 66?Chadders2009 said:
My thoughts are to start drawing down on my DC pension from 56, utilising my annual 0% tax banding so drawing £12570.00 plus taking 25% as the tax free amount (£4190) giving a annual income of £16760.00 to mitigate paying tax until my state pension kicks in at 66.
I would of thought it would be 670
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