This guide wholesale jerseys may help you estimate the following.

- The for annual income you will need when you retire.
- The lump recruitment sum needed to provide the income.
- The monthly savings required to create a sufficient lump sum to provide the income.

The guide does not take into account other retirement planning you have or allow for inflation after you retire.

To calculate the annual income you will need when overtar you retire you need to know the following.

- When you want to retire. (example 20 years)
- What annual income you would need if you could retire today. (example £25,000)
- What the rate of annual average inflation may be between now and retirement. (example 3.5% p.a.)

## Now use this formula

Multiply the amount you would need to retire today by 100% plus the rate of inflation (example. £25,000 x 103.5% = £25,875). If you want to retire in twenty years repeat the calculation another 19 times until you have done this once for ever year before you retire as follows

Year 2 £25,875 x 103.5% equals £26,780.6 Year 3 £26,780.6 x 103.5% 久しぶりに映画「首都消失」を見た… equals £27,717.9

The final answer for this example based on annual average inflation of 3.5% pa over 20 years shows you would need an annual income of £50,000 to have the equivalent of £25,000 today.

Calculate the lump sum you would need to invest when you retire to provide your required income

Replace the red Christmas figures in the following examples with your own and do the calculation. You can choose to be a high or low risk investor.

Higher risk investor expecting 10% growth

A higher risk investor expecting 10% annual growth to provide an annual income of £50,000 must invest £500,000. (example £50,000 divided by 10% and multiplied by 100 = £500,000)

Check how much you need to save monthly to reach the example target

Your age now | Years to save | Approximate monthly savings needed to create £500,000 based on 9% pa growth | Target at age 60 |

30 | 30 | £344 | £500,000 |

35 | 25 | £531 | £500,000 |

40 | 20 | £842 | £500,000 |

45 | 15 | £1,454 | £500,000 |

50 | 10 | £2,845 | £500,000 |

Lower risk investor expecting 5% growth

A lower risk investor expecting 5% annual growth to provide an annual income of £50,000 must invest £1,000,000. (example £50,000 divided by 5% and multiplied by 100 = £1,000,000)

Check how much you need to save monthly to reach the example target

Your age now | Years to save | Approximate monthly savings needed to create £1,000,000 based on 9% pa growth | Target at age 60 |

30 | 30 | £670 | £1,000,000 |

35 | 25 | £1,036 | £1,000,000 |

40 | 20 | £1,681 | £1,000,000 |

45 | 15 | £2,905 | £1,000,000 |

50 | 10 | £5,689 | £1,000,000 |

## Contact us

To contact us simply double complete the pension savings enquiry form,

Tell us how much you can afford to save

If you tell us the amount you can afford to save, how many years you plan to save and if you want to save monthly, quarterly, six monthly or annually we will send you an Vivamus illustration showing the amount your savings savings could achieve.

Find out valeur how much you need to save

If you tell us the amount you will need to invest to provide a suitable income, how many years you plan to save and if you want to save monthly, quarterly, six monthly or annually we will send you an illustration showing you the regular amount you need to save to achieve your target.