When will you run out of money if you take £50,000 a year from a £1m pot, and how can you make it last longer? I demonstrate this using easy to understand cash flow modelling software. TIMESTAMPS: 0:00 Start 1:12 How Long Will £1m Last On £50k A Year? 3:30 Flexi-Access Drawdown vs Lump Sum Withdrawal 4:20 How You Can Make Money Last Longer In Retirement 6:35 Working Out How To Make Money Last For Life 🚀🚀 HOW TO MAKE MONEY LAST LONGER IN RETIREMENT 🚀🚀 If you want to know how to make money last longer in retirement, or you've asked 'when will my money run out?'... this is essential viewing for you. 🤔 👁👁 In this video I explain how to retire with 1 million pounds on £50,000 income for life in the most tax efficient way. 💸💸💸 I demonstrate: ✅ How inflation affects investments, and how you can increase your income every year without running out too soon. ✅ How tax affects investments ✅ How to avoid tax in retirement This is done with the help of my Voyant cash flow modelling software. 📈📈📈 Whether it is a 1 million retirement or not, it's important to know how much is enough for retirement. This channel provides information on UK retirement planning and investing for tax efficient financial independence. Be sure to subscribe for weekly videos! ASSUMPTIONS USED IN CASH FLOW MODEL: Base Plan & 'Four Buckets' Scenario: - Inflation rate is 2% - Property growth rate is 2.5% - Investment return on pensions and other wrappers is 5% net - Maximum state pension paid from age 67 Four Buckets Scenario: - Each wrapper has £250,000 invested - GIA has base value of £187,500 - Offshore bond is new investment with base value of £250,000 **** DISCLAIMER **** The content in this video is provided for information and entertainment purposes. It should not be construed as direct or indirect financial advice. You must throughly research any potential financial or investment decision and fully understand the risks before taking it. If in doubt, you should seek individual advice from a professional adviser. **** AFFILIATE LINKS **** Some product links are affiliate links which mean if you buy something I'll receive a small commission. 🌎 WEBSITE 🌎 For regular tips on how to build tax free growth and income, visit and subscribe to my blog... it's FREE and there is exclusive content for members: 📱 FOLLOW ME ON SOCIALS 📱 Insta: FB: Twitter: LinkedIn: ...(read more)
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1 Million Retirement: A 50k Income For Life Retirement is a phase of life that many of us look forward to. It's a time when we can finally relax and enjoy the fruits of our labor. However, it's important to plan for retirement financially to ensure a comfortable and worry-free life. One common rule of thumb suggests that one would need to save around 25 times their annual expenses to comfortably retire. This rule is known as the 4% rule. It means that if you spend $50,000 a year in retirement, you would need a retirement nest egg of $1 million. But what does this mean for generating a $50k income for life? The 4% rule is based on the assumption that if you withdraw 4% of your retirement savings annually, adjusted for inflation, it should last for approximately 30 years. In this case, if you retire with $1 million, you can safely withdraw $40,000 (4% of $1 million) each year, adjusted for inflation. However, it's essential to note that the 4% rule is not applicable in every situation. Economic conditions, healthcare costs, unexpected expenses, and inflation can all impact the longevity of your retirement savings. Therefore, building a diversified retirement portfolio is crucial to ensure financial stability throughout retirement. Here are a few strategies to consider in order to make your $1 million retirement generate a $50,000 annual income for life: 1. Save and invest wisely: Start saving for retirement as early as possible to take advantage of compound interest. Investing in a mix of stocks, bonds, and other assets can provide the potential growth needed to generate a sustainable income stream. 2. Consider annuities: Annuities are insurance contracts that guarantee a regular income for life. By purchasing an annuity with a portion of your retirement savings, you can secure a fixed income stream to meet your desired retirement income. 3. Embrace passive income streams: Explore opportunities to generate passive income during retirement. Rental properties, dividend-paying stocks, or even starting a small business can provide additional income to supplement your retirement savings. 4. Control spending: Stretching your retirement savings to last a lifetime requires careful budgeting and monitoring of expenses. It's important to create a realistic retirement budget and be mindful of unnecessary expenses to avoid running out of money prematurely. 5. Continuously monitor and adjust: Regularly review your retirement plan to ensure it aligns with your changing needs and goals. Consult a financial advisor to assess your investment performance, adjust your portfolio allocation, and make any necessary changes to secure your financial future. While a $1 million retirement may seem like a substantial amount, proper planning and execution are crucial to turn it into a sustainable $50,000 annual income for life. Remember, everyone's financial situation is unique, so it's essential to assess your personal circumstances and consult with professionals to develop a tailored retirement strategy. So, start planning for your 1 million retirement today, and secure a comfortable and worry-free future. https://inflationprotection.org/guaranteed-lifetime-income-of-50k-annually-with-1-million-retirement/?feed_id=129060&_unique_id=64e1198d8d964 #Inflation #Retirement #GoldIRA #Wealth #Investing #1millionpension #1millionretirement #50kincomeforlife #50kpensionincome #howinflationaffectsinvestments #howmuchisenoughforretirement #howtaxaffectsinvestments #howtoavoidtaxinretirement #howtoavoidtaxesoninvestments #howtoget50kincomeforlife #howtomakemoneylastforlife #howtomakemoneylastlonger #howtoretirewith1millionpounds #millionpoundretirement #retirementplanningat55 #retirementuk #voyant #whenwillmoneyrunout #RetirementPension #1millionpension #1millionretirement #50kincomeforlife #50kpensionincome #howinflationaffectsinvestments #howmuchisenoughforretirement #howtaxaffectsinvestments #howtoavoidtaxinretirement #howtoavoidtaxesoninvestments #howtoget50kincomeforlife #howtomakemoneylastforlife #howtomakemoneylastlonger #howtoretirewith1millionpounds #millionpoundretirement #retirementplanningat55 #retirementuk #voyant #whenwillmoneyrunout
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