There are all sorts of pension calculators available, provided via Government-run online resources, pension providers and investment-focused websites, that help give a good approximation of the size of pension pot required to provide a desired retirement income. They also helpfully tell us how much we have to start squirreling away in a pension plan every month to achieve the size of final pot that will be required to achieve that income level. That’s often the slightly, to very, shocking part, especially for those who have nonchalantly strolled deep into their thirties or beyond before giving it much thought.
Topics covered in this Guide
- Calculate Minimum Budget
- Calculate Ideal Budget
- Margin for error and inflation
- Plotting the course of retirement
- How much income can your pension provide without the pot's value being depleted?
- Periodical Draw Down of Cash Chunks
- Planning for Care Expenses
- Plan B