UK Joint Retirement Plan Calculator

Quick intro!

Hi, I'm Dave,

I suddenly realised I was approaching retirement and obviously I had a lot of questions as I am sure you do too.

Questions like;

Can we afford to retire?
How long will our money last?
How much will we have to live on in retirement?
What happens to the run-out date if we take a tax-free lump sum?
What is the best strategy for tax efficient spending with Defined Contribution pension/SIPP and ISA pots?
What if there was a Defined Benefit pension in the mix?
Could we or would we want to “Front-load” income, - by how much?
What would that do to the run out date?
What is the effect of fees and charges on the pot over time?
Would we have to spend a fortune as well as the time talking to a Financial Adviser to have all this answered and would they then persuade us to sign a contract with annual fees?

I realised that all the calculations and information used by Financial Advisers is available and can be modelled into a dynamic calculator to provide all the answers,

so here we are.

Please see this video [HOW IT WORKS] before going to the calculator. A summary of the main points can also be found on the instructions page.

For any question or comment send an email to flippingr8@yahoo.co.uk

About assumptions,

There will be future government policy changes that we cannot predict and we will react to all the future throws at us as it comes. Until then the calculator assumes:

Government pension default amount of £11,973 although you can change that, starting at age 67. Personal tax allowance default of £12,570 although you can change that. Basic rate tax band of £37700. It assumes the state pension rises every year with inflation. It assumes the personal allowance will rise every year from 2028 in line with inflation, (default 4% although you can change that). It assumes your ISA and SIPP pots grow by the growth rate you set, (default 6.5% although you can change that). It includes the taper relief for income over 100,000

Disclaimer: The calculator is for illustrative purposes only and not a projection of what an investment may be worth. The projections are based on the assumptions and the inputs you make, used in the calculations. Projections do not reflect or guarantee financial market performance or any fees and charges associated with an investment. This information does not constitute personal advice or a recommendation. Remember the value of investments can fall as well as rise so you could get back less than you invest. You are responsible for your money and it is your choice on whether to seek professional advice on investment decisions you may wish to make.