How Much Do I Need to Spend £5,000 pm in Retirement?

In this video, we dive into the story of Andy and Judy, a couple approaching retirement with £1.3 million in pensions, ISAs and cash savings. Facing common fears about their retirement affordability, they sought a clear plan to sustain their desired lifestyle. Follow along as we outline their financial strategies, including investment growth, cash flow management, and tax optimisation, to maintain a comfortable retirement income of £5,000 per month. Learn how effective retirement planning allowed them to retire early, travel, and enjoy their golden years without financial stress.

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Timestamps:

00:00 Introduction
00:54 The Financial Plan: Saving and Preparing for Retirement
02:25 Setting Retirement Goals and Addressing Fears
03:10 Income and Expenses: Current and Future Projections
03:59 Cash Flow Analysis and Withdrawal Strategies
06:57 Optimising Retirement: Spending and Investment Strategies
08:32 Conclusion

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Risk Warnings:

✅ The Financial Conduct Authority does not regulate Cashflow Planning.
✅ The value of your pension may go down as well as up and you may get back less than you invest.
✅ Past performance is not a reliable indicator of future performance.
✅ Levels and bases of, and reliefs from, taxation are subject to change and their value will depend upon personal circumstances. Taxation and pension legislation may change in the future.
✅ A pension is a long-term investment, the value of your investment and the income from it may go down as well as up. Your eventual income may depend upon the size of the fund at retirement, future interest rates and tax legislation.
✅ Your pension income could also be affected by the interest rates at the time you take your benefits. The tax implications of pension withdrawals will be based on your individual circumstances, tax legislation and regulation which are subject to change in the future.
✅Drawdown pension plans (unsecured income) are complex and are not suitable for everyone.
✅ Pension decisions can affect your income for the rest of your life (and that of any partner and other dependants). Where benefits are accessed on a flexible basis, these are not fixed or safeguarded for life. If security of income is important to you then you should consider purchasing an annuity or taking a scheme pension to provide a secured level of income.
✅ This video is for information purposes and does not constitute financial advice, which should be based on your individual circumstances.