How Much Do I Need to Retire?


How much do I need to retire?

I get asked this all the time and certainly quite a lot over recent weeks, lockdown is getting to us all. I’m sure that there will be some of you rolling your eyeballs back because you know it’s a crazy question as everyone has different lifestyles and income requirements but it’s just one of those throw away questions people ask me, and I’m OK with it because it’s pretty easy to answer!

So, for those of you doing some retirement planning whilst whiling the dark nights away watching the numerous American series on Netflix and wanting a steer on the question above here comes the rocket science!

Now before I set out the difficult calculation it assumes that all the big spends like mortgages, car loans etc. are off your hands………so are you sitting comfortably?

A – stands for bills you have to pay e.g., gas / electric / weekly shopping etc.

B – Relates to bills that are ‘Nice to haves’ e.g., Sky TV, Club memberships etc.

C – Relates to the luxuries in life e.g., Running 2 cars, more or nicer holidays etc.

Now generally the A’s and B’s don’t come to much more than 12 – 15K pa, it’s the C’s that take costs to 20k, 25k and beyond. For most of us, and more so married couples, state pensions* may well cover the A’s and B’s at retirement and it’s your pension planning now that will cover the C’s but isn’t that what we want in retirement, more C’s?

So, if you would like a few more C’s in your retired life but not sure about the most appropriate way to go about it give Ethos a shout on the contact points below:

07768 820014

*You can get a state pension forecast at:

Publish date: 4th March 2021

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