Retirement at 50 - how much would you need in your warchest?

[SimonMac]

How much do you need per month to survive?

In December 2012, £100,000 would buy an annual income of £5,230, or 435 quid a month. It's then easy to make a projection.

I'd say 300K plus state pension (from age 65) should be enough to lead a modest life.

But that would give you £15,000 in today's money, how much buying power that will have in 15 years is something completely different.

Have a look at

http://www.hl.co.uk/pensions/interac...ion-calculator

[pjclarke]

In December 2012, £100,000 would buy an annual income of £5,230,

How?

[DimPrawn]

How?

Annuity I assume.

Best thing is to not worry, have fun and then die very soon.

HTH BIDI

That's if Global Warming doesn't kill us all anyway....

[Old Hack]

Aim for 6% on your money. Gov are aiming to give £150 a week, or about £7500 a year.

I would, personally, leave money in the company and pay myself out of company funds, claim tax credits, and council benefit. Probably, from £10k a year, you'll get around £8k in benefits and have no council tax to pay. If you've been shrewd, you've put a lot of your own money already into PV/Solar power and maybe a ground source heat pump, so you get tax free fits from that too. All you'll have to pay for is your own power and food (and booze), but if you've been wise, your land is already heaving dull of veggies, and you have a couple of pigs and chicken around.

No sense not using the state to your own advantage.

[DimPrawn]

Aim for 6% on your money. Gov are aiming to give £150 a week, or about £7500 a year.

I would, personally, leave money in the company and pay myself out of company funds, claim tax credits, and council benefit. Probably, from £10k a year, you'll get around £8k in benefits and have no council tax to pay. If you've been shrewd, you've put a lot of your own money already into PV/Solar power and maybe a ground source heat pump, so you get tax free fits from that too. All you'll have to pay for is your own power and food (and booze), but if you've been wise, your land is already heaving dull of veggies, and you have a couple of pigs and chicken around.

No sense not using the state to your own advantage.

Sort of aiming for the redneck farmer lifestyle?

[KentPhilip]

No sense not using the state to your own advantage.

Benefit scrounger!

[Old Hack]

Sort of aiming for the redneck farmer lifestyle?

I was going less stressed. You can pump £10k a year into your pension too.

I was thinking 18k in the hand, with little or no bills to pay would be a lovely less stressful life to lead.

[KaiserWilly]

But that would give you £15,000 in today's money, how much buying power that will have in 15 years is something completely different.

Indeed. You have to buy an inflation-adjusted annuity. And keep on saving and investing.

[SimonMac]

Indeed. You have to buy an inflation-adjusted annuity. And keep on saving and investing.

But an inflation-adjusted annuity will cost you much more than the usual £5k per £100k

[KaiserWilly]

But an inflation-adjusted annuity will cost you much more than the usual £5k per £100k

True. But you also spend less as you age. Additionally you can move abroad to post-Euro southern European economy.