Re: Will I be able to retire in 13 years?
Posted: February 14th, 2021, 12:23 pm
Firstly once again I would like to thank everybody for contributing. I said I would come back and let you know what I decided to do.
It was clear that I was not paying enough money into my pension. I've increased my monthly contributions to £2100 and for the next year will be paying this into my pension plan.
It took me a while to decide whether to pay into my pension or into the ISA or into both. At this point I decided it really didn't matter what I paid into and i decided that the pension plan was the best for me at this stage. I now have a yearly recurring appointment in my diary to review this and I suspect in a couple of years I may be more inclined to buy a few years contributions into the ISA.
I'm hoping that with the action I'm taking now, I will at least get the opportunity of retiring early or reducing my hours.
Newguy
It was clear that I was not paying enough money into my pension. I've increased my monthly contributions to £2100 and for the next year will be paying this into my pension plan.
It took me a while to decide whether to pay into my pension or into the ISA or into both. At this point I decided it really didn't matter what I paid into and i decided that the pension plan was the best for me at this stage. I now have a yearly recurring appointment in my diary to review this and I suspect in a couple of years I may be more inclined to buy a few years contributions into the ISA.
I'm hoping that with the action I'm taking now, I will at least get the opportunity of retiring early or reducing my hours.
Newguy