Is you salary / house out performed by your pension.

245

Comments

  • lisyloo
    lisyloo Posts: 29,611 Forumite
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    Obviously this is very much relate to age.
    bear in mind average house value is around £260K and that you be owned by a couple
    For a decent retirement you need at least £600k I’d say per person, so at some point in middle age you’d expect to reach B and later on reach A, strongly linked to age IMO.
  • somethingcorporate
    somethingcorporate Posts: 9,449 Forumite
    Our pensions are worth twice what the equity in our house is. This year they have done very poorly, losing quite a bit in value.
    Thinking critically since 1996....
  • WYSPECIAL
    WYSPECIAL Posts: 645 Forumite
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    pensionpawn wrote: »
    No advice offered or requested here, just my inquisitive nature. Does anyone have a pension pot(s) that is:
    A) Earning more than they are. i.e. average annual growth now exceeds net earned income (prior to salary sacrifice and other voluntary deductions)
    or
    B) Worth more that their (main) residence
    or
    C) both of the above.

    Just purely out of interest :)

    for B) do you mean worth more than the value of their main residence or worth more than the equity they own in their main residence?
  • AnotherJoe
    AnotherJoe Posts: 19,622 Forumite
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    edited 16 February 2019 at 8:46PM
    Depends what you mean by "earn". Since I am not employed my earnings are zero so any income on my savings and pension, even 1p wins.
  • dunstonh
    dunstonh Posts: 116,351 Forumite
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    Neither A,B or C for me.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • Ganga
    Ganga Posts: 4,154 Forumite
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    somethingcorporate wrote: »
    Our pensions are worth twice what the equity in our house is. This year they have done very poorly, losing quite a bit in value.


    You could have no equity in a house worth £2m:rotfl::rotfl:
    ITS NOT EASY TO GET EVERYTHING WRONG ,I HAVE TO WORK HARD TO DO IT!
  • MallyGirl
    MallyGirl Posts: 6,617 Senior Ambassador
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    Neither A, B so not C either
    I’m a Senior Forum Ambassador and I support the Forum Team on the Pensions, Annuities & Retirement Planning, Loans
    & Credit Cards boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com.
    All views are my own and not the official line of MoneySavingExpert.
  • Cat_House
    Cat_House Posts: 59 Forumite
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    Interesting question. We are just recently retired. Our current house is worth around 300k, our pension between us is 550k but... yesterday our house that we sold for 76k approximately 22 years ago went on the market for 500k. So a bit gutted. We moved half an hour up the M1, 17 years ago and then another half an hour up the M1 for my job 5 years ago for a same price property. I wish we had stayed where we were back then...
  • pensionpawn
    pensionpawn Posts: 946 Forumite
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    Hi Wyspecial. I meant more than the value of your (main) home, not the equity, however I see why you asked the question.
  • Cat_House
    Cat_House Posts: 59 Forumite
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    But... I am not complaining. I feel very fortunate...
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