Planning for Retirement

Uther said:
Well by my quick calc that will give you £414000 at 55, and that's without any growth, so I don't think you'll have too much to worry about...
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Sounds a big number but...... 55 / 20 years that's roughly £20K a year. That's not really a lot of money to play with. Jeeze, could live till i am 100...
 
kai said:
Sounds a big number but...... 55 / 20 years that's roughly £20K a year. That's not really a lot of money to play with.
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Yes, but (if it's still a thing) you can add the state pension on top from 67-68 which is another 10k or so. Also, with a sustainable drawdown figure and the rest invested you won't be struggling too much...
 
Uther said:
Yes, but (if it's still a thing) you can add the state pension on top from 67-68 which is another 10k or so. Also, with a sustainable drawdown figure and the rest invested you won't be struggling too much...
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Yeah, especially with it all compounding, even at 5%yr that's over £600k
 
37 here, employer contributes 3%, and I'm contributing 7% (was contributing 10% for a bit before Xmas), and up to this point have been contributing the 5% required. I've got a S&S ISA as well, and about £100k left on the mortgage which is currently due to complete when I'm around 50.

Not swimming in cash savings, and we've got an extension and loft conversion coming up, so I'm trying to find that perfect balance between a completed mortgage, finished 'forever home', and usable pension!
 
Mine only shows me 60 - 65 but if I retire at 60 and continue to earn what I do now (which goes up about 1% a year without promotions anyway) at 60 I should have about 775k pension pot, with 120k GBP lump sum. If I hold out to 65 it's a good chunk more but by then lol don't think I'll want to be there!
 
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