Bold leap into retirement

mrklaw

nice work @glass_half_full

DC looks more than enough - your problem may be leveraging what little basic rate you have from 60-67 looking at pulling out funds into ISA to cover future lump sum gifts/purchases if you’ll be HRT after state pension but thats a good problem to have. might still be some wiggle room with that split between you.

have you considered taking the 65 DB at 60? perhaps without lump sum to max the income (arguably you don’t need the lump sum). if the reduced amount takes your overall income to a point where it covers your essentials that’d be attractive to me as then you can be much more relaxed about the DC pot

crv1963

Congratulations @glass_half_full I enjoy reading people's successes! Enjoy your well earned retirement.

glass_half_full

https://forums.moneysavingexpert.com/discussion/comment/82024863#Comment_82024863

Hi @Smudgeismydog, not fully sure about household income but I have modelled around £60k for first 10 years, then maybe £50-55k. The DC fund is all in my name.

https://forums.moneysavingexpert.com/discussion/comment/82024958#Comment_82024958

Thanks @mrklaw. That's a very interesting idea about taking the dB pension due at 65 early, I can see why that would be beneficial, I will look into this. I must admit the tax optimization is something I need to really understand better.

https://forums.moneysavingexpert.com/discussion/comment/82024982#Comment_82024982

@crv1963 thank you!