Personal details
Your age: 56
Your spouse's age: 56
Number and age of children: 1 mid twenties
Income and expenditure
Annual gross income from employment or profession: 61,000
Annual gross income of spouse/partner: 51,000
Monthly take-home pay: roughly 5,000
Type of employment - Both civil servants
In general are you:
(b) saving
Summary of Assets and Liabilities
Family home value: 750,000
Mortgage on family home: Zero
Net equity: 750,000
Cash: 300,000 (in State savings)
Family home mortgage information: No mortgage
Other borrowings – car loans/personal loans etc
No borrowings
Pension information
Value of pension fund:
Defined Contribution pension fund:
Me 650,000 today, paying in circa 11,000 per annum in avc's and expect to continue to retirement.
Spouse 90,000, paying in circa 11,000 per annum in avc's and expect to continue to retirement.
Buy to let properties
No
Other savings and investments:
Other information which might be relevant
Both entitled to contributory state pension at 67.
I will have civil service pension of circa 4,000 accessible from 67
Spouse will have civil service pension of circa 3,000 accessible from 67
Spouse will have UK civil service pension of circa 3,000 accessible from 67
Life insurance: No
What specific question do you have or what issues are of concern to you?
We wouldlike to retire aged 61 or 62 latest.
We would like a spend of 70k net per year from 62 to 70, reducing to 60k per year to 80 and 50k to 90, holding onto a rainy day fund of about 50k.
Does this sound achievable based on our figures or are we falling way short?
Is there anything we should alter now to make our plan more achievable?
Your age: 56
Your spouse's age: 56
Number and age of children: 1 mid twenties
Income and expenditure
Annual gross income from employment or profession: 61,000
Annual gross income of spouse/partner: 51,000
Monthly take-home pay: roughly 5,000
Type of employment - Both civil servants
In general are you:
(b) saving
Summary of Assets and Liabilities
Family home value: 750,000
Mortgage on family home: Zero
Net equity: 750,000
Cash: 300,000 (in State savings)
Family home mortgage information: No mortgage
Other borrowings – car loans/personal loans etc
No borrowings
Pension information
Value of pension fund:
Defined Contribution pension fund:
Me 650,000 today, paying in circa 11,000 per annum in avc's and expect to continue to retirement.
Spouse 90,000, paying in circa 11,000 per annum in avc's and expect to continue to retirement.
Buy to let properties
No
Other savings and investments:
Other information which might be relevant
Both entitled to contributory state pension at 67.
I will have civil service pension of circa 4,000 accessible from 67
Spouse will have civil service pension of circa 3,000 accessible from 67
Spouse will have UK civil service pension of circa 3,000 accessible from 67
Life insurance: No
What specific question do you have or what issues are of concern to you?
We wouldlike to retire aged 61 or 62 latest.
We would like a spend of 70k net per year from 62 to 70, reducing to 60k per year to 80 and 50k to 90, holding onto a rainy day fund of about 50k.
Does this sound achievable based on our figures or are we falling way short?
Is there anything we should alter now to make our plan more achievable?
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