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Don't just invest in any random asset. Understand the asset and why it's worth investing in. You'd be surprised how little people know about their portfolio

I believe every family has that one person who will break the family financial struggle, I hope you reading this become the one.and every one who says amen.

Self investing, over 20% gains YoY.. Its not rocket science

Or, ask AI to do it through POE excel.

Very good video. The gradual building up of the spreadsheet and your explanations for each calculation was very clear, very insightful towards the end. I see from other comments that the addition of tax and adjusting for "real rates of returns" were suggested, though I think presenting the figures in nominal terms helps most grasp all of the concepts easier. I would be interested to see a follow up version that showed how we could add the provision for tax and real rates of return, while keeping the layout/structure fairly simple. You have gained a subscriber.

I dont understand why you spent so much time showing us nominal values. It is only important to know in todays value to make it easier to understand the real buying power of your retirement income.

PRIVATE PENSIONS ARE A SCAM AT THE END OF YOUR DAYS IT’S A MONEY POT FOR THE TAX MAN

Thats fantastic - thank you!

I believe there may be some errors in your slide at time stamp 7:09 where you show an example of gross pay £65k with salary exchange reducing gross pay to £61,637. If we take £61,637 minus £9,100 currently, we get £52,537. The employer pays NI of 13.8% currently on the £52,537. Therefore surely the Employer NI Contribution is £7,250. Your slide says Employer NI Contribution = £6,426 which is the same figure you show in Gross Employer pension contribution. But if you’re rebating the Employer NI saving I think the Gross Employer pension contribution should be (£7,714 - £7,250) + (£65,000 x 0.09) = £6,314 Also how did you arrive at the gross figure of £61,637 after exchanging 5% of £65,000? Should it not be £61,750? Thanks

Extremely useful and very valuable information. My employer moved all pensions to Hargreaves about 4 years ago and it's been superb. HL is expensive but they give you personal control direct on the website exactly how much in percentage you wish to contribute from your salary, they also have the option to opt in to sacrifice any bonuses pre-tax into your pension which is a nice yearly top up. I sacrifice 3% out of my own pocket and my company contributes another 12% ( std 8% + matching ). I also contribute another 12% of my own post-tax money to other pensions which I'm considering reducing in order to up my workplace scheme to reap the tax benefits. I'm 53 and I paid my mortgage off about 8 years ago and have no intention of taking another. The part about effects on death-in-service assurance amoutns is certainly something to consider.

Easily the most comprehensive video I have seen so far. Thank you

Interesting. You seem to miss the guys fall in expenditure as he ages?

I would say aim for a private pension value of at least £300k per person to retire at retirement age. To retire early double that. Forget your house as an asset if you only own one.

Excellent.. thank you very much... subscribed.

Excellent Video, very simple and illustrates the point perfectly.... Many thanks for the effort

Brilliant video, thanks. Just what i'm after.

Just like to say thank you . This video is brilliant . I am planning on retiring next May at age 59 and this video has confirmed I'm in a good place financially. The ability to add DB income at 65 helped confirm how much drawdown I can sustain from DC pot.

Better to have the 300 grand yourself. What magic do you think a pension manager will do, other than charge you, and gaurentee nothing!

Depressing! Work like a dog and have £300K and it barely brings in a decent living as I race towards death.Again,depressing.

What happens if Pickles drops down dead after, say, 6 months? What happens to the pot?

Thanks for the informative videos. I am retiring next year can you recommend a financial planner in Stroud Gloucestershire areas please. Many thanks

Yes he could outlive his draw down pension, but his state will continue. One way to look at that is spending your draw down whilst you are young and can enjoy it, you never know what tomorrow brings.

But real life suggests, and I have seen this with my parents and in-laws, is that your spending reduces as you age. In early retirement, they travelled, spent money on the house, but this gets less. My advisor told me of this. So you don’t need the same income every year. All depends on health etc. would be interesting to see a tapered example.

What a bore

You keep saying 'tax free cash'. I guarantee it won't be cash.

I put my £70K tax free lump sum into premium bonds and an ISA to boost my tax free income.

If there was a love button I would be clicking it, thanks

😮

Hi Edmund please could you do a video on pension remedial statements. I have been sent one and don’t understand it. Thanks

Do you have any views on Bitcoin or Gold?

Money is great to have in retirement but the problem is your health won't be great for 80% of people, then it's no good to you also that's if you live that long .

What software are you using for this? :)

Fantastic video very helpful. Watching again now. Thankyou so much.

Excellent and informative video….thanks

Hi Edmund - great video, as always. You offer very thought-provoking insights. I have a question for you about pension contributions. I read that, as an employee, I can contribute up to 100% of my earnings or £60k per annum, whichever is the lower (putting aside carry-over for the time being). As an employee, the most straightforward way for me to make contributions is through salary-sacrifice into my workplace pension. And then I read that I cannot salary-sacrifice to such an extent that my salary falls below the National Minimum Wage. So it seems odd that, on one hand, I'm told I can contribute 100% of my salary to my pension and then, on the other hand, I need to select a % below 100% in order to avoid falling below the National Minimum Wage! Please can you clarify as the apparent contradiction seems so confusing? Finally, must the National Minimum Wage threshold apply to any singular month in the year or can it be applied just at an overall level annually? What I mean by this is that, for this tax year, I have already earned well in excess of the National Minimum Wage - and so, for the rest of this tax year, am I permitted to salary-sacrifice 100% of my salary to maximise my contributions without worrying about falling below the National Minimum Wage threshold? Thanks so much for clearing this up!

Brilliant! Exactly what I was looking for. I’ve built a very basic spreadsheet to help me understand how much money I will need in retirement. This is definitely next level. Thank you so much

I'm looking to retire at 60. I'm 57 at the moment. I've got approximately £150k in my private pension and have already withdrawn 45k incase the Government withdraw the tax free allowance. This leaves me with around £155K in ISA s and a 3k a year pension from a previous employer which kicks in at age 60. I'm not a big spender and i have repaid my mortgage. I should be eligible for a full state pension at 67 unless the Government change things. Is it reasonable to retire at 60 with what I have accrued at the moment?

Where can i find the spreadsheet sample?

I started in 2007 with the nhs and i have the 2008 and currently automatically moved 2015 because when i satarted i have the 2008 scehme which i was paying throughout the scheme does that meen i will get the the 2008 scheme at the end of my pension is 65 years old or will it be the 2015 ?

Nice tutorial, very informative and useful

Thanks for that. Just wondering what should be done with cash savings outside any tax wrapper, I guess they should be spent first but keeping maybe 6-12 months of expenses in case of any sudden large stockmarket downturn.

Mister Pickles, great name for a dachshund 😄

Amazing - thank you

I hope we all know that it doesn't matter who is in the 'top job' because this is a systemic problem -- greed. We have allowed many of our economic sectors, to take advantage of the American people. It's disgusting and frightening for the future of our country. My husband and I will be retiring in the next two years n another country. We are absolutely worried that SS! will no longer be funded. we'll have to rely on his pension, a 403 (b) and a very prolific Investment account with Stephanie Janis Stiefel my FA. Our national debt is bloating and expanding every month. Our government needs to get spending under control and cut the federal budget.

Standard pension contributions are 5% EE, 3% ER, NOT 5/4 as you stated.

Let’s see how this changes in October. I’m not optimistic.

I am a higher rate taxpayer & all my pension contributions are made through salary sacrifice with employer making contributions as well. With the predicted changes to pension tax relief at the forthcoming budget would salary sacrifice be affected by this?

For younger people you also save on student loan repayments, another marginal 9% on top of IT and NI. My employer includes the gross pay without sacrifice and the reduced pay on the payslip. I've always used the gross figure when getting loans etc without issue.

Maybe the granny freezer will reduce the annual allowance from £60k to £40k and will abolish the ability to save employee NIC on salary exchange payments.

Great video Edmund, pls could you do a video on how to select good funds from pension providers….. I imagine the default may not be the best and these are rarely reviewed unless you intervene.