Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@. Skimlinks & other affiliated links are turned on

Search
  • FIRST POST
    • TheShape
    • By TheShape 12th Aug 18, 5:08 PM
    • 1,411Posts
    • 1,286Thanks
    TheShape
    Calculator
    • #1
    • 12th Aug 18, 5:08 PM
    Calculator 12th Aug 18 at 5:08 PM
    This is related to a calculation I'm trying to make re pension provision. I've not put it in the pension forum as it's not a question re pensions or pension schemes.

    I'm looking for a calculator or an easy way to calculate how much income I can draw over a fixed period of time from a fixed capital sum while reducing the capital sum to zero.

    Background: I can estimate reasonably well my income from State pension age from state pension and DB pensions but want to work out what income i can take from SIPP/LISA/ISA over various time-frames previous to this.
Page 1
    • masonic
    • By masonic 12th Aug 18, 5:14 PM
    • 9,912 Posts
    • 7,125 Thanks
    masonic
    • #2
    • 12th Aug 18, 5:14 PM
    • #2
    • 12th Aug 18, 5:14 PM
    You mean something like http://www.cfiresim.com/ or https://www.firecalc.com/index.php ?
    • Zero Sum
    • By Zero Sum 12th Aug 18, 5:15 PM
    • 531 Posts
    • 422 Thanks
    Zero Sum
    • #3
    • 12th Aug 18, 5:15 PM
    • #3
    • 12th Aug 18, 5:15 PM
    Its exactly the same as a mortgage calculator.
    Put in capital, rate & time. The result is your income
    • ColdIron
    • By ColdIron 12th Aug 18, 5:20 PM
    • 4,715 Posts
    • 6,144 Thanks
    ColdIron
    • #4
    • 12th Aug 18, 5:20 PM
    • #4
    • 12th Aug 18, 5:20 PM
    HL have this
    https://www.hl.co.uk/pensions/drawdown/calculator

    A stack of calculators here
    http://www.candidmoney.com/calculators/
    • TheShape
    • By TheShape 12th Aug 18, 7:12 PM
    • 1,411 Posts
    • 1,286 Thanks
    TheShape
    • #5
    • 12th Aug 18, 7:12 PM
    • #5
    • 12th Aug 18, 7:12 PM
    Its exactly the same as a mortgage calculator.
    Put in capital, rate & time. The result is your income
    Originally posted by Zero Sum
    I think this does exactly what I need.
    • TheShape
    • By TheShape 12th Aug 18, 7:16 PM
    • 1,411 Posts
    • 1,286 Thanks
    TheShape
    • #6
    • 12th Aug 18, 7:16 PM
    • #6
    • 12th Aug 18, 7:16 PM
    Thanks ColdIron,

    I've tried the HL drawdown calculator but it a pain as I have to pretend I'm at least 55 and mess about with the monthly income levels to try to get it to run the capital down over 2,3,4,5 etc years.

    The other calculators similarly need a lot of messing about with.
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

13Posts Today

4,691Users online

Martin's Twitter
  • How much of your income do you spend on holidays each year? Please vote in this week's MSE site poll... https://t.co/LZ3YIGra1p

  • RT @FinanceJames: @MartinSLewis Absolutely do. I've been shouldered out of the way by cyclists - while on a bike myself - because I'd stopp?

  • I no longer have a car. I mostly walk (& occasionally cycle). I don't need lecturing on bad drivers, I lost my moth? https://t.co/tsBYUEhRjt

  • Follow Martin