Retirement Plans

[Countdown]

How much will you need and how are you going to get it?

In my case - hopefully £35k-£40k through a mixture of

Pension (currently on target for £20k)
Property investments (£10k)
Stocks & Shares (£5k - £10k)

Whilst not a mega-fortune I think it will allow a comfortable retirement somewhere sunny.

[megaphone]

Is that per annum income? Or your total 'pot'?

[Countdown]

Hopefully annual income.

I'm trying to minimise the amount invested in a traditional pension. Knowing my luck I'll pop my clogs one day after retirement. With a "normal" pension the pot disappears - at least my way there will be something to leave my wife/kids/thai mistress

[98elise]

35k per annum, 10k from pension pot and 25k from property. Property should be sorted by 55, so i have the choice to semi retire.

Whatever the government give me will be a bonus, I'm counting on nothing.

[CaptainSensib1e]

If you're mortgage free £40k would be a decent income, about what I'm hoping for (in about 30 years). Is that between you and the missus or just for you?

[Burnham]

98elise said:

Whatever the government give me will be a bonus, I'm counting on nothing.

Same here...I have minimal pension but aim for property sale/rental to keep me afloat.

I've kind of resigned myself to the fact I'll have to work 9at least to some extent) until I die though.

[mx stu]

Countdown said:

Whilst not a mega-fortune I think it will allow a comfortable retirement somewhere sunny.

It's all relative. If you currently earn (and subsequently spend) £100k per year then it would lead to a drop in your standard of living. Conversely if you earned less or equal to that then you'd not notice any difference.

At least the above is what my pension chap says when I ask him what to aim for as projected pension income.

[Countdown]

CaptainSensib1e said:

If you're mortgage free £40k would be a decent income, about what I'm hoping for (in about 30 years). Is that between you and the missus or just for you?

Just for me. Mrs C is a stay at home mum so wouldn't get any separate pension, although AIUI she gets 50% of mine when I shuffle off this mortal curl.