Anything like Guiide for Couples?

SVaz

Trying to model different scenarios but as a couple with differing Sipp and DB incomes followed in 7/8 years by 2 State pensions. 

I know I can do them individually but jointly is preferable.

etienneg

You need to do two models (one for each of you) and then add them together for the overall picture. That's because various things (such as taxation and pension contributions) apply to each individual rather than to a couple.

handful

There are other tools available, depending on what you want to see. E.g. Evolve my retirement. I paid a small subscription for this and I think it's worth it in conjunction with Guiide. This calculates a number of scenarios and uses a Monte Carlo simulation to test these scenarios and gives a score in % terms about the chances of your plan success. I don't know how this compares to the professional tools but it does seem to match fairly well with Guiide's outcomes.

westv

etienneg said:

You need to do two models (one for each of you) and then add them together for the overall picture. That's because various things (such as taxation and pension contributions) apply to each individual rather than to a couple.

The difficulty with that is if the two pools of pension vary over time.
For example, if income starting at, say, £100k with £75k from Mr A and £25k from Mrs A but tapering over time to £25k from Mr A and £75k from Mrs A - all with the same £100k spending.

Pat38493

If you are prepared to pay for a much more capable tool you can get access to Voyant Go by paying for a training class - it's much more advanced and has a lot more capabilities but more expensive.

MarzipanCrumble

One of you is going to die before the other (unless freak accident where you die at same time......).

That means a survivor.  Plan for that too.

SVaz

I’ve done individual ‘plans’ in guiide but it just doesn’t work very well.

I want to see everything for both us us on the same page so I can see what the whole joint pot value might be after 4 years and 7 years of varying income. 

Having 7 years in cash/ STMM seems a daft strategy with interest rates set to fall over the next few years but I don’t know how ‘safe’ to play it. 
I want to see how realistic the aim of having at least £100k left after 7 years is,  we wont need any sipp income after our State pensions start so whatever’s left is for our elderly years / if one of us dies. 

I’d like to retire in April 2026 ideally,  our joint pots will be hopefully £175k at the end of next year, barring major crashes, with £30k in cash/STmm.  We also have £25k in fixed savings, so we could forego a year’s income if we really needed to. 

We would need to draw £14000 x 4 years then £9000 x 3 years,  so about £83k in all.  

It’s worked in guiide with growth down to zero and a protected pot of £100k but there is no provision for negative years within the 7. 

Qyburn

Timeline does couples. But posters on here are suggesting you cant get the free limited login any more. 

cfw1994

SVaz said:

Trying to model different scenarios but as a couple with differing Sipp and DB incomes followed in 7/8 years by 2 State pensions. 

I know I can do them individually but jointly is preferable.

https://whatapalaver.co.uk/retirement-planning-couples was a superb tool posted up here by the author some years ago.

Looked pretty decent, and was one of the tools I used to help (in)sanity-check my plans around 4 years ago.

I suspect that it is perhaps exactly what you need 🤞

Good luck!

DeLaSole

The (retirement-related) Youtuber, James Shack, has a retirement Google sheets spreadsheet available for free which has couple inputs. Googling James Shack Retirement Spreadsheet will no doubt get to the place on his website to download it. HTH.

SVaz

I need something that doesn’t involve spreadsheets.  Not a clue how they work.