Retirement money

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The Esk said:
I wrote the prospectus....
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?
 
On a minimum of £500 pension a month at the moment (at 24, I can't knock that) and throw £125 a month into a private one. I plan to retire before 60, so this is a good start
 
Bungle said:
Knock off the tax free cash (25%) so you're left with £123,750 to actually buy your annuity with, that gets you less than £6k a year depending on where you look. Obviously if you have medical issues then you can get a bit more from an enhanced annuity.

Depends on what extra options you go for though, Spouses pension, guarantee periods, payment frequency etc.

That figure above was for a level pension with a 50% spouses pension i.e. she gets 50% of what he was getting when he dies, if she's still alive.
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So id be better buying a 3 bed house for 120k and renting it for £650 a month?
 
Take a look at the newly launched Vanguard target retirement funds. A well balanced, managed, low cost, passive investment that will help prevent investors and savers from being their own worst enemy. It's early days, but I'm hoping this will be made available through my company pension scheme with Aviva.
 
Fortunate to have a Final salary pension in place though Government making us chip in more each year, also have a SIPP (Self invested Personal Pension)managed by my pension company which takes the hassle out of it for a reasonable charge. Jags if you're looking for somewhere to start try Hargreaves Lansdowne who are a reputable company,there is some good advice on their website.
 
Put 15% of my salary into 401k, company puts in another 9%. Also put another 10% of salary into employee stock purchase plan at 15% discount.

Should have mortgage paid off by 40ish if I don't move. Should be pretty set, but you never know when economy may tank again.
 
larbert toffee said:
Fortunate to have a Final salary pension in place though Government making us chip in more each year, also have a SIPP (Self invested Personal Pension)managed by my pension company which takes the hassle out of it for a reasonable charge. Jags if you're looking for somewhere to start try Hargreaves Lansdowne who are a reputable company,there is some good advice on their website.
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Yes....I can vouch for Hargreaves Lansdowne...they look after my ££££££££ and their fees are reasonable.
 
sold the house, had 2 decent private pensions, some aussie super making about 7%PA some savings and modest lifestyle, got enough for the average life span anything over 83 though.

looking at campervans for the grey nomad thing, up north for the winter, biggest decision is whether to go clockwise or anticlockwise...may even take Mrs Degsy.

Kids Inheritance? sod em
 
Pay off your mortgage as quick as you can. Have no children. Buy a boat. Save up a few thou as a buffer, live on boat, rent out house. Sail off into sunset.
 
barneygumble said:
On a minimum of £500 pension a month at the moment (at 24, I can't knock that) and throw £125 a month into a private one. I plan to retire before 60, so this is a good start
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Jeez - after how many years work? 30 years as a teacher has earned me around £1100 a month when I retire. 30 years .... and I'm told this is a good pension scheme. Of course the govt has just "tinkered" with it - so it won't be any more. No wonder there's a shortage of teachers.
 
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