Soon to retire - how to take my saved money

NotTightJustCareful

https://forums.moneysavingexpert.com/discussion/comment/81919589#Comment_81919589

This effectively my plan too. I have a health condition which gives me an enhanced rate for the annuity over a bond ladder which doesn't care. I also don't want the complexity of administering a bond ladder as I get into my old age.

NotTightJustCareful

https://forums.moneysavingexpert.com/discussion/comment/81920519#Comment_81920519

I had to give notice. My aim will be to get more than one good holiday per year. I do have enough saved as you say.

NotTightJustCareful

https://forums.moneysavingexpert.com/discussion/comment/81919527#Comment_81919527

I am happy with a level annuity at 8.4% . My spending will decease over 75 and I will probable have a lot in my DC pension to fall back on - perhaps get another top up annuity if needs be.

Veloflyer

https://forums.moneysavingexpert.com/discussion/comment/81921806#Comment_81921806

I'd add that until I reach SP, then for me it looks like an ILG ladder/drawdown to bridge the gap. When SP kicks in, then will be the time to decide annuity or continue with the ladder/drawdown for essential spend until I kick the bucket. My thinking at the moment is some sort of annuity - as long as rates are OK - and for sure the relative simplicity has an attraction, but it will depend on my state of health at the time somewhat. I am also conscious than an annuity cannot be passed on and once the decision to purchase an annuity is made, then there is no going back.

The additional equity/cash pot will be left - hopefully to grow - to take TFLS/income as and when.

It's all a guess. Crystal balls are in very short supply and are opaque at best. All I can do is make the best informed decision as possible, not to be afraid of asking dopey questions, read up a little and make the best use of folk on forums like this one - who incidentally have been extremely helpful.