Interesting week for pension fund value

Nebulous2

. If you have no other earnings in the year you will have an unused personal tax allowance. It makes sense to take the money from the pension when you can get it all tax-free, rather than wait until later, possibly when your state pension kicks in, when 75% of it will be taxed.

Derisking isn't all or nothing, you could move some money in your pension to cash, or near cash, when you will need it soon, and leave the rest invested for a longer period.

norton66

https://forums.moneysavingexpert.com/discussion/comment/81932741#Comment_81932741

Hmmm, not sure what the difference is, you create an account at guiide.co.uk, enter your "haves" and needs and it suggests a withdrawal plan tweaked for various scenarios. It's a different presentation to some of the other forecast tools.

Cobbler_tone

Maybe edit title to interesting months.

DT2001

https://forums.moneysavingexpert.com/discussion/comment/81931694#Comment_81931694

You are up on 12 months ago, you have one less year to fund, presumably added to investments/cash from income and yet you will carry on working. Do you have a written plan for when to retire?

I remember from previous posts you are (very) cautious so wonder why you have not annuitised or adopted Linton’s strategy where he is producing income from part of his pot and leaving part to grow. I hived off 20% of our portfolio last year when my global ETFs had reached a specific figure into dividend focused ITs. These will, hopefully, produce about 5% income p.a. (this return will probably increase in % terms when the market is down). This plus using cash reserves and probably a fixed % of my ‘growth’ funds will mean my 3/4 year cash reserve will last 6/8 minimum. I see our growth pot as being lots of mini annual pots some of which need support from our cash reserves and some that will add to cash reserves.

I hope you can soon achieve a point where you are happy psychologically content to retire.