68: Why You Might Need Less to Retire Than You Think

Comments · 42

• WE

  @WealthofAdvice · 4 months ago · pinned

  As we mentioned in this episode, we&apos;d love for you to join us at one of our How to Prepare for Retirement Webinars this month! <br> <br>Find out more information and register now on our website: <a href="https://www.retirewellpodcast.co.uk/events">https://www.retirewellpodcast.co.uk/events</a>

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• WI

  @Willsmith-q2v · 4 months ago

  I love your content lads.....channel should be so much bigger

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• AN

  @andrewbarrett9675 · 1 month ago

  You could also take an annual lump sum payment, but take this in March, this way you will have a full years tax allowance available, as tax is cummulative.

• TH

  @Thaitanium73 · 4 months ago

  It&apos;s crazy how so many people allow work to become their life

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• AD

  @adamsaint2890 · 4 months ago

  I&apos;m really enjoying your videos, thank you for making this channel and sharing your expertise. They are giving me a lot of food for thought as a man who is advancing through middle age.<br><br>Perhaps in a future video you could give us your take on Shared Cost AVC schemes in local government. I recently started paying into one and can only assume that they&apos;re not more popular because people don&apos;t understand them.

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• SC

  @scareybailey · 4 months ago

  Take a small initial £1000 lump sum from your DC pension, so that the HMRC tax code issue can be resolved before any larger lump sums are taken.

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• EF

  @EffWriteOff. · 4 months ago

  Late to the party, but £10k lump sum invested, £420 per month DCA, hoping to take my 25% tax free lump sum at 57, invest that, then with a switch to receiving dividends instead of reinvesting them I might if I&apos;m lucky be able to drop to working part time.<br>Hopefully luck will be on my side, I&apos;d rather enjoy some retirement time whilst I&apos;m fit and able than having more money and unabke to enjoy it.

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• WA

  @WaynesWheelhouse · 4 months ago

  Thanks for sharing this information guys. Can someone retire at 60 if they still have a 60000 mortgage?

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• VI

  @VictoriaKelly-l5b · 4 months ago (edited)

  What about single people ? &nbsp;To your point the essential living costs are pretty much the same as a couple …

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• PS

  @psimmoaz · 4 months ago

  To help balance mine and my wifes pensions. Can I &nbsp;take tax free cash out of my pension when I retire and pay some of it into my wife&apos;s SIPP to benefit from her higher tax relief (assuming she is still working). i.e. is this considered recycling?

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• AN

  @AndrewPotts-u3u · 4 months ago

  In the first year of retirement, spending more than when we were working ....

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• LL

  @LloydGay-j2p · 4 months ago

  I would. Just like to clarify when you quote income amounts eq £32k per annum would &nbsp;this before or after tax.

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