How much retirement income can you get from £300,000.

How much retirement income can you get from £300,000.

If you're looking to work with a Financial Planner for financial advice and would like to determine if we would be a good fit for you, contact us today:

*Website:*

*LinkedIn:*

Which?:

*Please note:*

The information provided is based on the current understanding of the relevant legislation and regulations and may be subject to alteration as a result of changes in legislation or practice. Also it may not reflect the options available under a specific product which may not be as wide as legislations and regulations allow.

All references to taxation are based on my understanding of current taxation law and practice and may be affected by future changes in legislation and the individual circumstances.

This channel is for information and education purposes only. Any information or guidance given does not act as financial advice. Please consult a financial adviser if you are unsure in anyway.

Keep in mind that the value of your investments can go down as well as up, so you could get back less than you invest.

My aim is to provide education and guidance to help individuals understand pensions, investments and protection.

#pension #retirementplanning #financialplanninguk

[EdmundBaileyUK]

Mr Pickles is back and this time he has £300, 000 in his Personal Pension.
Thanks as always for watching and do let me know if you have any questions or queries. All the very best!🙏

[GiveItaGo]

Im retiring in 67 weeks time at 55 and feel like im watching more videos like this than i am working 😂😂

[mikewallace]

But real life suggests, and I have seen this with my parents and in-laws, is that your spending reduces as you age. In early retirement, they travelled, spent money on the house, but this gets less. My advisor told me of this. So you don’t need the same income every year. All depends on health etc. would be interesting to see a tapered example.

[Manc-fhwe]

I put my £70K tax free lump sum into premium bonds and an ISA to boost my tax free income.

[ushasundaram]

Thank you. I don't look at annuity rates or tax free lumpsum but in my head I always think of a rough rule of thumb as 5k pa for every 100k in the pension pot. So a 250k pot gets you something just around the personal allowance, around 12.5k pa. Very useful and informative and for my pov supremely timely as always. Its like your video drops at exactly the right moment when I am contemplating a similar question.

[davidpearson]

I do think the Which retirement spending numbers are realistic if there is no mortgage or rent to pay

[adamsaunders]

I think its about being flexible in retirement, keep your higher growth conviction stocks but if they have a bad year or 2 cut back on spending to preserve the pot until it recovers as it always does given a few years

[JohnGreenwoodPhotography]

Thank you so much. That was a really valuable video. It's refreshing to see achievable figures.

[MariaWarner-zz]

So disappointing that fund managers are pay a vast amount of money for such poor growth figures, so many fingers in your money without the necessary results .

[pankajthakrar]

Wow, thanks Ed
So much useful info in a shortish video
Really really helpful, great practical, realistic examples
Thank you very much 👏🏽

[pataleno]

Great Video. I have about 5 years until retirement, so absolutely maximizing my pension allowances. I suspect that the 25% tax free is gonna be reduced or scrapped all together in future by Labour should they get in. Pensions for the better off, will be targeted for sure.

[dabe]

The PLSA figures are scaring people so unnecessarily. People take them as gospel and don';t seem to smell a rat when their recommendations are higher than some are currently earning ! If you survive without that amount of salary, why would you not be able to when retired ?! I heard on a finance radio programme that the PLSA figures are calculated by simply asking people who are no where near that age, what they would like to be able to do when they retire - essentially asking people for their hopes and dreams and not their realistic aspirations. It's no wonder the figures are so high !

[bigbangerz]

“Mr Pickles will be in retirement for 20-25yrs…” haha what a nice way of putting it 😅

[dean]

Yes he could outlive his draw down pension, but his state will continue. One way to look at that is spending your draw down whilst you are young and can enjoy it, you never know what tomorrow brings.

[LomondSiTi]

Thanks for the video, really helpful. What software is this that you are using?

[davedixie]

Why try to preserve a pot till you are 90, most people don’t make it, you need to enjoy retirement through better health th 65-85, instead of saving for a retirement home, sad attitude. £225, 000 example at 5% interest would give you £12, 000 drawdown on interest only, maintaining your pot, take a bit more for a few luxuries and your pot will still last. Don’t be fooled into an annuity where the finance companies just give you your interest made, and keep the pot when you die. And you still have the 25% Tax free (75, 000) in your pocket.

[willh]

Annuities are nearly always a poor decision.

[wontbelongnow]

Money is great to have in retirement but the problem is your health won't be great for 80% of people, then it's no good to you also that's if you live that long .

[Plastron]

Is this model avilable to put your own numbers into?

[singeager]

Excellent and informative video….thanks