Look at my DIY plan, comments suggestions and criticism welcome

ali_bear

I used to enjoy what I do. True enough I will be comfortable in retirement. 

Even though my TFLS could possibly be capped. According to my updated plan and model I will be well below the higher rate threshold for taxable pension income. Maybe if I was retiring at 65 or had any sizeable DB income that would be a thing. 

MK62

PropertyGuru_Wannabe said:

Yes there are a lot of variables that are unknown but the crux of the information is there for the OP to plan. If the OP goes to guiide and use their program which gives a rough indication on his pot on retirement and continued investment for the next 30 years, the pot won’t be £1 mil despite his drawdown for £24k income a year. It will be over £4 mil. 

Do you seriously think that the OP will ever run out of money and need that annuity to survive?

Nobody is suggesting the OP might run out of money........that's very unlikely. With the OP's planned drawdown level and the current size of his/her pot, just about any reasonably sane plan will likely "work", if you view "work" as just not running out of money.
Turning your last statement around though, do you seriously think the OP needs the potential extra returns that he/she might get by staying fully invested in risk based assets? Sometimes you need to know when to take some money off the table......

PropertyGuru_Wannabe

@MK62 Put it this way, if everyone agrees that the OP has enough money to live and be financially independent throughout his life even if there is underperformance in the stock market, then why shouldn’t he be fully invested in risk based assets? He has nothing to lose and if it works out as planned, he could potentially have significantly more in his pot. He can of course withdraw funds should he wish to and spend it on himself as per his budget and withdrawing to the basic rate threshold every year and placing it into his Stocks ISA seems a sensible strategy.

Let me flip this question again to you and apologies if I have offended anyone. Why would you want to exchange a few hundred thousand pounds immediately to get say £20k a year? To break even you need to be in your mid 70’s. Will the deferred gratification be worth it to you at that age?