| Enter your Age Now | ||
| Enter your Retirement Age | ||
What is your Starting Pot?
How much do you currently have in your pension? |
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| Starting Year is | ||
| Your Desired Pot Size at age | ||
| Assuming an interest rate of
Actual pot growth would be eg. 10% - (Inflation) 3% = 7% overall. |
% per year (average) | |
| Advert 1 II |
| Ad 2 |
| Monthly Payments Required | ||
| For total number of years |
| Currency Symbol |
| Withdrawing at the rate of | % | |
| Gives a yearly income of | ||
| Gives a monthly income of | ||
| Deduct tax @ | % |
Instructions: Click the ⬇ to copy the Monthly Deposit to the years below. Click on any line to view more detailed information.
| Worst Case Scenario |
Inflation Adjusted ie. deduct 3% |
Actual Growth Required |
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|---|---|---|---|---|---|---|
| # | Year | Age | Monthly | Growth @ % | Growth @ % | Growth @ % |
| Deposit | Include Deposits | Include Deposits | Include Deposits | |||
| |
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Sum/yrs : |
↳ diff → ↳ diff → |
Compare two savings pots with different monthly deposits and/or interest rates (for example Pension & ISA).
Click on any line to view more detailed information.
| Pot 1 | Pot 2 | Diff of | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| # | Year | Age | Monthly | Interest | Starting Pot | Yearly | Monthly | Interest | Starting Pot | Yearly | Pot 1 |
| Deposit | % | Gain | Deposit | % | Gain | & Pot 2 | |||||
| |
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Total : |
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Lumpsum: (+ or -) |
ExLump: |
Total : |
|
Lumpsum: (+ or -) |
ExLump: |
Exclude Lumps: |
| Interest % | Year / Month | Year / Month |
|---|---|---|
Calculate making a regular payment into a savings account (for a child, etc).
Top tips to maximise your savings to achieve the largest pension pot in the future.
- The stock market rises over time as more people are paying into their pension than withdrawing their pension money.
- The stock market has outperformed other assets over the last 100 years (property, gold).
- It is easy and quick to sell stocks, as opposed to other investments which can take a long time.
- Work backwards from when you think you might die... what percent do you think you'll get, inflation%, what % will you withdraw. how many years.
- Lump Sum Allowance (LSA) – This limits the total value of tax-free lump sums you can take from all your pensions to £268,275
- Pay as much in as you can from as young as age as possible to give the money the longest possible time to grow