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I have rarely trusted experts. If they all have the same information, why don't they all come to the same conclusion? No matter if financial matters or climate change.Potter wrote: Sat Feb 06, 2021 2:35 am
Anyway, WTF do I know, I'm an electrician, I'm sure these experts running the show know what they're doing
Like racing tipsters. If they were any good, they'd keep the best knowledge to themselves.Whysub wrote: Fri May 21, 2021 1:12 pmI have rarely trusted experts. If they all have the same information, why don't they all come to the same conclusion? No matter if financial matters or climate change.Potter wrote: Sat Feb 06, 2021 2:35 am
Anyway, WTF do I know, I'm an electrician, I'm sure these experts running the show know what they're doing
Aye, not a lot I can do about that. But if I can persuade the wife then we'll be out of the UK anyway and in FrancePotter wrote: Fri May 21, 2021 1:34 pmWestern governments seem intent on printing money and offering no interest, so people have more money and they are throwing it into things, hence your gain.
Some people are predicting a crash, with a scramble for liquidity and people losing a bundle on assets (physical and financial).
The way it's going I think it's a reset and assets will still be worth loads of money in a few years, but money will be worth a lot less because of inflation. Hyper inflation isn't a blanket thing yet, just on some assets, but inflation is definitely causing problems and it's only going one way with this type of strategy.
There is a reasonable chance that your pension will continue to grow and be worth loads, but you'll need loads to buy a loaf of bread.
For Potter for the calculator.weeksy wrote: Mon Feb 01, 2021 6:30 pm Very very interesting thread over on STW to me, as i’m getting to 50 this year, plus clearly in 5 years i’ll be hitting the magic 55 where i can remove a chunk from my fund potentially.
I’m honestly not thinking of “i must have XYZ left” , my boy will get a ridiculous chunk of money when i’m out of here from the sale of the house (ok, ridiculous isn’t right, but lets just say it’s a reasonable chunk) so he’ll be fine and dandy.
So all i really need my money for is bills and day to day living, i don’t care if there’s £4.00 left on the day i croak it, i’d actually like that more than there being £500k in there that then ends up with my lad along with the house LOL. I’m kinda hoping by the time i go, he’s got his own house and job etc… Otherwise i’ve gone WAY early.
I’ve been fairly lucky with pension contributions from employer over the years, so i think i’ll do OK. But i do need to research into my options a LOT more in the coming years as when you guys talk about things like annuities, draw-down, SIPP, i have absolutely no idea what you’re on about and lets face it, i really ought to in the coming years.
I’ll likely in the next few years speak to an IFA about it all, currently it’s all in the works pension and ticking away nicely, so no rush.. but i’d like to be more informed.
https://www.which.co.uk/money/pensions- ... pj57u5134k
Using that calculator above it makes the assumption i'll spend all of the figures i put in and be skint by the time i hit 85... You know what, that's not all bad actually. If i'm 85 i'll also be getting the government pension (assuming it exists) and i'll have a bucket of equity in the house. That's all assuming a retirement age of 60
They usually do, yes. The growth calculations assume a certain average annual growth rate and an average rate of inflation, then the good ones also consider inflation post retirement.Cousin Jack wrote: Fri Sep 17, 2021 3:30 pm Do the figures with an increasing income each year to cope with inflation. It makes a huge difference.
They certainly should do, and today's rules may insist they do, but I have seen such figure based on flat annuities, and flat drawdowns.Mr. Dazzle wrote: Fri Sep 17, 2021 3:42 pmThey usually do, yes. The growth calculations assume a certain average annual growth rate and an average rate of inflation, then the good ones also consider inflation post retirement.Cousin Jack wrote: Fri Sep 17, 2021 3:30 pm Do the figures with an increasing income each year to cope with inflation. It makes a huge difference.
Click on it.Cousin Jack wrote: Fri Sep 17, 2021 3:30 pm Do the figures with an increasing income each year to cope with inflation. It makes a huge difference.
With luck I'm not planning on working by the time I'm 60Yorick wrote: Fri Sep 17, 2021 4:38 pm Many folk overestimate how much they need annually to live on when retired.
No mortgage, kids etc. No need for multi cars etc.
I talk to many folk here who wish they'd retired much earlier instead of chasing the 5* pension.
One pal of mine retired at 63, after him and wifey working hard.
She died last year and he's got pension of £35,000 and nothing to spend it on. He's now 67.
I think we're all well past that point.
I need to catch her at the right time first.
After ten pints.
