Відео

James, I love your videos but being in Australia the conversions and differences in tax laws, pensions and the like make it difficult to apply. If only there was Aussie-James!

Gloriously simple. Well done James. That tool looks like fun. I'd love to know what the spending of pensioners who own their own home is by year. At 65 you need £blah. at 75 , etc. I always imagine I'll spend very Little but “assumption is the mother of all mistakes” .

Monte Carlo is a waste of time . How many Monte Carlo simulations could have come close to modeling the Covid crash before it happened? None. Remember the largest drawdown of any portfolio is always in the future.

I am 54. I'm fortunate enough to work somewhere that offers a pension plan - not an account Right now, health ins. Is my biggest question but the plan is to retire on 1/1/29

I’d be retiring or working less in 15 years, and considering this financial recession, I’m deciding to begin taking up skilled trades. I’m curious to know best how people spilt their pay, how much of it goes into savings, spendings or investments, I earn about $140k per year but nothing to show for it yet.

Fab video James, as always! How you cram in so much detailed analysis and advice is admirable…and I thank you very much sir!

Not sure if I missed it or not but does the mortgage 2 year fixed rates include the product fees as well? 15 years of £1k product fees causes a substantial increase in mortgage cost. E.g. £15k plus additional interest.

Retirement planning is very important in our world, funny how in some parts of the world, you need over a million dollars to retire comfortably?"

So I've worked for three different UK-based companies from medium to very large, the defined contribution pension I've had with then over the first 15 years of my career has grown at LESS THAN 1% (that accounts for money I've invested each month and looks at the underlying increase in value of the shares / assets) Stocks and shares in the open market might be 7%+ but I've not seen anything like that. So that's the only area that I can fault your analysis, the rest of it hangs together very well.

What I don't understand here is, if you need £325k to get £20k/annum why don't you need double (ie £650k) to get £40k/annum, rather than your calculated £855k? In other words, if I have £325k and my partner has the same we would have joint income of £40k surely?

Excellent video. Keep up good work.

Great video, thanks James.

Thank you. Retiring at 55 would be a bit of a dream as I’m only a couple of years away but I can at least see that the value of my pension pot which currently feels like way too little isn’t so far away from being enough. Hopefully I can quit before I’m 60 😊

Hi James, the final retirement figure. It’s based on today’s prices. So doesn’t the final figure need to be adjusted for inflation?

Great video, but am I doing something wrong as I can't get the 'How Much Do I Need To Save Tool' to download

eugh, I'll just downsize the house!

All these big earners and pension pots....What about working class Joe or Joanne with modest pension pots up to say 50 to 125k...any advice ..

I'll never retire. Too boring! I'll just work less, and travel more!

Great video! Id love to check if I'm on track, but the download didn't work for me.

Unfortunately, I'm not able to download the savings calculator. I enter my email and it says "Your download should start shortly" . I have tried different devices and browsers. I was already signed up for your newsletter James, will that make a difference? Saying that I tried another email and still no downloaded document on my phone or computer. Please advise. Thanks for a great video.

Dear James, thank you for the great video! I am now 64 and have an incredibly nice job. I enjoy that every day, both from work and from colleagues. But I also make sure that my work is so much fun. I'm the one who has to hang up the streamers every day at my job. It's not easy but it really is possible. That makes my work a party. I have been working for more than 40 years, but I know that my last working years are the best. In a few years I will retire with a party.

That spreadsheet isn't downloading for me. I've tried two different browsers too

Wait, leaving out money for care seems like a massive oversight??

Hi James. I think it's time for a video on the new lifetime allowance rules. First, there's a limit of £268,275 'lump sum allowance' equal to 25% of the new 'lump sum and death benefit allowance' Now unless you are desperate to pay off a mortgage, most people will not take 25% of their pot at retirement. If you have a £500k pot at retirement, for example, hopefully it will grow over the years and you will be able to take more than £125,000 tax free. So two questions arise. Who is supposed to keep tabs on the actual amount of tax free cash you withdraw? And what will happen if you breach the limit? And a question that I've always had, which may now be moot unless the lifetime allowance is reintroduced by a different government, if your pot continues to grow and looks like it will breach the £1,073,100 limit, at what point should you start to take large amounts out so you don't end up paying huge amounts of tax?

Signed up twice to newsletter to try this tool, and both failed

Surely leaving out 'average' end of life care costs from the calculations creates a potentially dangerous model to follow?

The drawdown as a % of capital is on average 5-6%, so it's not far off the 4% rule. I think it re-enforces that the 4% rule is pretty safe & conservative. Spending will definitely decrease as one gets older though. Medical expenditure will increase though.

Fantastic video James, I wish the youth of today could see it in schools

Hi James, Great video again. I can't seem to get the How much to save tool to either download or send to an email address. Perhaps it's just me. Keep up the good work.

Another great video James :) When I looked at the downloadable tool it has a starting saving target of £800 K, i know you mention a target of a lot less than this, say 300-500K how does someone on a lower income work out their monthly savings needed for this sort of amount? Thank you

My wife and I will take our 25% lump sums and invest in our Isa’s (over several years) for accumulation & income. For the remaining 75% left over am I correct in thinking that if we only withdraw our annual personal tax allowance amount (currently £12,570pa) each year we will not have to pay tax on that, or is all of the 75% subject to tax ? Thank you

Isn't this the same/close video to ua-cam.com/video/Jm6d7UdSCsk/v-deo.html (How much do I need to retire with £20k/£40k/£60k per year?)

Hi James, I really like how you show your workings and assumptions. Thanks for the video!

Excellent video. Would love to see a follow up of this based on retiring at 60 as I'm going to need to start saving.

I retired at 48 last year after 27 years as a uniformed patrol deputy for a sheriff's office. I could have stayed in until age 55 to receive a better pension, but at what cost to my health? Everything in my soul was telling me to get out of law enforcement. I've been "retired" about 14 months now, and I'm finally feeling free. I have a small pension which covers my monthly expenses. I have a couple rental homes as added investments. My wife is 100% supportive, which means everything. Our kids are all adults now. I wake up when I want to, and do whatever I want daily. Sometimes, I'll do some woodworking projects to make some extra side cash. I'm young enough to begin a second career, and likely will once I find the right path. But for now, as I sit with my coffee and listen to the birds on this gorgeous morning, I feel fulfilled. I devoted my everything to my community for so many years, and now I am free to take some time for myself. It's one of the best decisions I've ever made.

I wouldn't worry about when to retire. Your goal should be to get as quickly into the stock market as possible. The median US income has grown by x1.62 since 1980, while the US GDP has grown 10x, the same as the S&P 500. You have an extreme disadvantage living from a salary, on average; therefore, do not ask when you can retire but instead, how early can you start investing in ETFs, stocks, and bonds as early as possible to escape the median income trap--in order to have a few million USD left at the age of 65.

Great video James. Can you post the equivalent figures at higher levels of expenditure, eg 100/125k please?

This is great stuff, clear, balanced and realistic...thanks.

Hi, I’m worried about my parents running out of money during their retirement. They are both retired and drawing their pensions. They are divorced and single. Is there any way they can save on tax. I know they have a private and government pension. Both are 72 years of age. Thank you in advance.

Time becomes more valuable than money as you get older. So if you’re still Working at 60 and don’t enjoy it. It’s time to make plans.

Great video James. Always a concern in the future they start means testing state pensions… Punishing the ones who saved for their retirement. 😢

If you do die earlier than planned - what happens to the remaining pension pot? What are the most common scenarios? Do companies get to keep the money after a certain age?

If you dont take the kump sum you'll be taxed at source.

Excellent video! I'm curious that after the cash buffer is the assumption that the remaining amount is invested in 100% stocks?

That intro.. you almost made me sell 😂

A good addition to something like this is - how much money would you need, and need to be investing per month at 20, 30, 40 years old to reach this. I know how to work this out myself but it’s mind blowing when you see it spelled out - the power of compound growth and how little you need if you start early vs late. I still have colleagues in their 20s who have OPTED OUT of our employer pension!

Hi James. Do you have a professional website? Is there any chance of hiring you as my financial advisor? 😊

Why do you assume everyone will get state pension? I won't because I will have worked less than 10 years by the time I retire.

I don’t understand the assumptions behind the DC Pension figures at 09:17 - given that dividends will accrue and compound tax free in a pension, and that 25% can be withdrawn tax free, I don’t see how you can require more assets inside a DC pension than in a GIA to permit the same expenditure? Even when the pension tax free cash is exhausted, withdrawing funds from a DC pension is no less tax efficient than drawing from a GIA?

Umm! How do you plan for social care within this??