Retiring

[Indaparkside]

Devon and Cornwall full of them in laybys apparently. Websites full of free camping places found

Stan collymore, likes this

 

[Indaparkside]

If you are 43, loads of money unless you are planning to end it all by the time you are 63.
Now I may be talking bollocks and there are many more financially astute people on here than me, but if you had 1 million pounds, that’s £50k a year and in twenty years time the spending power will be like having only £25k which is nothing really.
To outstrip inflation you would need to invest in medium risk investments which fair enough you may win on but you could also loose, leaving you in your 60s with nothing.
It seems like a good idea but unless you are loaded, or have some serious assets you can liquidate if you need to it’s very risky and you will need to live like a monk.
Have you thought about just reducing your hours ? That way you can get a better work life balance but without the risk.

How dare you speak to bill gates like that:)

 

[SWP's back]

Work out what you need to live on, then times it by 20 and that’s approximately what you need to have in place.

 

[SWP's back]

If you are 43, loads of money unless you are planning to end it all by the time you are 63.
Now I may be talking bollocks and there are many more financially astute people on here than me, but if you had 1 million pounds, that’s £50k a year and in twenty years time the spending power will be like having only £25k which is nothing really.
To outstrip inflation you would need to invest in medium risk investments which fair enough you may win on but you could also loose, leaving you in your 60s with nothing.
It seems like a good idea but unless you are loaded, or have some serious assets you can liquidate if you need to it’s very risky and you will need to live like a monk.
Have you thought about just reducing your hours ? That way you can get a better work life balance but without the risk.

ETFs or multiasset portfolios aren’t risky on those timescales to be fair.

 

[Kompany Car]

ETFs or multiasset portfolios aren’t risky on those timescales to be fair.

God I hate acronyms, ETFs ??? Are they a bit like Unit trusts ?

 

[Tuearts right boot]

Devon and Cornwall full of them in laybys apparently. Websites full of free camping places found

....and round here

 

[SWP's back]

God I hate acronyms, ETFs ??? Are they a bit like Unit trusts ?

Exchange traded funds.

Basically buying an index like the S&P500 or FTSE100 etc. Usually charge about 0.2% pa and historically you’re looking at 7-12% pa net growth per year over a 20 year time horizon (although some years they will drop by up to 40% as it’s an index).

Multiasset portfolios are less risking as they’d generally only have a 50% (ish) equity holding so would help insulate you from the worst of the markets (and vice versa).

 

[1961_vintage]

any advice about planning for retirement. Realistically how much would be good to have behind you. I’m only 43 so wouldn’t be for a few years yet but was thinking about an out plan. Cheers

My advice would be to do your research and get yourself a decent financial advisor if you are serious.

 

[blue moon rising]

Thanks for advice will look into investments. I know there isn’t an site fire plan but was wondering on how others go about planning.

 

[ChicagoBlue]

Work out what you need to live on, then times it by 20 and that’s approximately what you need to have in place.

Assuming a 5% payout is considered a little more aggressive over here, with 4% considered more realistic, with 3% considered even more conservative, if capital preservation is a major goal. Additionally, the cost of retirement is often more expensive in the first few years, as you start to do all those things you said you were going to do when you retired!

However, we also have some significant expenses that most in England don’t have, such as health care and property tax. Prudential suggests that a retired couple should have about $250,000 just for health care expenses!