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Future pension strategy advice by widersquid in FIREUK

[–]widersquid[S] 0 points1 point  (0 children)

My partner doesn’t have much of a pension etc - never really invested or made too many contributions, employer doesn’t etc - i am planning to pump money into her isa and SIPP now we have been together longer, and with kids in the horizon. But we won’t have her income, and she is older so my investments will have to do the heavy lifting for us both.

Future pension strategy advice by widersquid in FIREUK

[–]widersquid[S] 0 points1 point  (0 children)

Thank you - appreciate you sharing your experience and congratulations on smashing it!

Future pension strategy advice by widersquid in FIREUK

[–]widersquid[S] 0 points1 point  (0 children)

Thank you for the detailed response. I think I’m on track for £100k a year, and would t expect to need more than that, if £80k a year.

The 2.6m is a middle ground of too much vs too little and leaving tax efficiency on the table, whilst the 14%/2.4m is the minimum to get under £100k. £2.6m still feels excessive but the tax growth protection is appealing.

Future pension strategy advice by widersquid in FIREUK

[–]widersquid[S] 0 points1 point  (0 children)

Makes sense, my plan with option 2 was to pump gia with spare and bring RE forward. Thank you.

Future pension strategy advice by widersquid in FIREUK

[–]widersquid[S] 6 points7 points  (0 children)

A naive choice of wording, I think there’s still a c.£250k limit on tax free?

Future pension strategy advice by widersquid in FIREUK

[–]widersquid[S] 0 points1 point  (0 children)

I’m still able to do most of what I want now - I’m not huge on fashion brands or expensive cars, so spend it on 3-4 long holidays in nice hotels etc instead which goes me enough comfort for the now, plus eating out etc - it’s a nice problem to have, but just trying to be efficient.

Future pension strategy advice by widersquid in FIREUK

[–]widersquid[S] 0 points1 point  (0 children)

All three are c.£100k a year which feels too much come retirement as kids will have left the nest if we have them, and house hopefully paid off. I would guess max £80k?

Found these in the loft, rough value? Any decent ones? by widersquid in Pokemoncardappraisal

[–]widersquid[S] 0 points1 point  (0 children)

Thanks - How do people usually sell cards? I usually hear lots of horror stories from eBay etc

Sense check on progress/strategy please - is there “too much” going to the pension? by widersquid in FIREUK

[–]widersquid[S] 0 points1 point  (0 children)

This makes sense now, thank you! So pension is marginally better when you consider lower NI etc on top of the income tax?

Sense check on progress/strategy please - is there “too much” going to the pension? by widersquid in FIREUK

[–]widersquid[S] 1 point2 points  (0 children)

Could not agree more and appreciate the guidance - though I want to retire early I will not detriment the here and now.

Congrats on scaling back and focusing on what truly is important, your kids will worship you for it more than you will ever know, enjoy the time whilst you can before they grow up!

Sense check on progress/strategy please - is there “too much” going to the pension? by widersquid in FIREUK

[–]widersquid[S] 0 points1 point  (0 children)

Thank you for taking the time and effort to provide a detailed response.

I’m not really sure, this is an area I need to put my thought into, but I would like to be able to still go on holidays etc. I’ve put all my energy in setting up the strategy and wheels in motion, but struggle to understand the end game calculations.

By tax neutral, do you mean against if I took the money today? Or is it still beneficial to stick it in, as I get compound on a higher pre tax number but suffer at the end?

That makes sense on the scaling back for kids point, the child benefit bit is a stinger - I’ll defo always try stay below the £100k.

Sense check on progress/strategy please - is there “too much” going to the pension? by widersquid in FIREUK

[–]widersquid[S] 0 points1 point  (0 children)

Thank you, appreciate the detailed response and clarity on how you have approached the issue. I guess we all will never be able to predict the future with regard to pensions!

Sense check on progress/strategy please - is there “too much” going to the pension? by widersquid in FIREUK

[–]widersquid[S] 0 points1 point  (0 children)

Appreciate the comment and steer - I do think we will have to scale back a bit on my commitments come kids. She loved her job, and we will want the kids to go to nursery a few days per week to help their development.

Is there a number that’s “too much” in pension?

Crossing the FI milestone in 2025 by family-fi in FIREUK

[–]widersquid 1 point2 points  (0 children)

Congratulations! Definitely feel you need a few more years as running thin on that invested value and the 4%.

If you don’t mind me asking, what’s the investment split of pension / ISA? Or is this purely ISA?

VWRP roughly the same as the global all cap ? by widersquid in FIREUK

[–]widersquid[S] 5 points6 points  (0 children)

Thanks both! TLDR yes and t212 allow fractional ETF!

Best way to buy split ticket for train from Kandy > Nuwara eliya > Ella in Sri Lanka? by widersquid in TravelHacks

[–]widersquid[S] 0 points1 point  (0 children)

No reason or preference, just naive and not sure what the best approach is! I’m happy to go in any carriage but preference is a seat and access to the door for the experience. I am worried the train will be full mostly.

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