That's a very high withdrawal rate. Usual recommendation is about 3.5% - 4% often quoted but most seem to think that's now optimistic. 3.5% would give you about £12k but you should be able to increase that each year with inflation.
I've watched a few of his videos and they're good, but I think can be a bit confusing, so definitely double check everything. I'd also suggest having a look on YouTube for Meaningful Money and James Shack, both of who are chartered financial planners as well and I think their explanations are easier to follow. Meaningful Money has been doing videos (and podcast) for about 10 years, so there's a lot to look at!
A very basic summary
A £350K fund @ 4% PA growth
Draw £5k per month for five years (from age 62 -67)
Take £1250 of this as your 25% tax free pension
Plus £1,000 as drawdown. This isn't taxable as it comes in at less than the personal allowance
the balance £2750 going into a draw down fund
£1250 +£1000 gives a £27k PA tax free income
The amount of the original £350k fund growing at 4%,less 5k per month after five years (when you reach the age of 67) is £95k
The drawdown fund with 3% compound interest, starting with £2750 per month for five years is now worth £180k
At 67, the state pension kicks in, and let''s say it stays at £10k
To get to the £27k mark,we now start hitting the drawdown pot by taking £18k per year, at £1500 a month (Obviously there are other ways of increasing the tax free amount, such as transferring income to your partner if they fall below the tax threshold)
The £180k will last until you are 79
Meanwhile the 95k from the original pension fund has grown over the last 12 years and is now valued at £152k, so should last another ten years
So drawing down on a £350k pot can last well into your late 80's even when retiring at 62
I'm now exactly my Mum's age when she passed away, 60 years and a few months
My dad was 72
I think planning beyond 80 for me is delusionary
