💷 Money Clinic: ‘I want to retire early at 61 and match my current income – how can I do it?’ thomasselby, head of retirement policy at investment platform AJ Bell, gives his guidance ⬇️
, which provides a guaranteed income for life in return for your pension pot. Buying an annuity also allows you to access your 25 per cent tax-free cash. Annuities provide greater security and certainty than drawdown, but are less flexible.
When deciding this starting income, you need to think carefully about the sustainability of your withdrawal plan because, ultimately, you want to make sure your retirement pot lasts as long as you do. As I mentioned earlier, not all firms will offer drawdown, so ask your provider if this is an option. If it isn’t, you can transfer to a new provider – although make sure you aren’t incurring any penalties or losing valuable guarantees before doing this. Your existing provider should be able to tell you if this is the case.
Danmark Seneste Nyt, Danmark Overskrifter
Similar News:Du kan også læse nyheder, der ligner denne, som vi har indsamlet fra andre nyhedskilder.
Feed your child for £1.60 or under at these supermarketsWe compiled a 'menu' for you that could save you time and money
Læs mere »
Barbie vs Oppenheimer box office: How much money have they made?Ahead of the final figures tomorrow, Barbie has recorded the biggest opening day of 2023 at the US box office, while Oppenheimer has also opened ahead of expectations:
Læs mere »
The arrogant boast of Peter Farquhar's remorseless killerPeter Field murdered former Manchester Grammar School teacher Peter Farquhar for his house and money
Læs mere »
I filled up at Costco petrol station - it wasn't worth the time it took to queueI filled my car up at the Costco petrol station and it wasn't worth the time it took to queue
Læs mere »