Pension Saving Targets by Age

Agree but 40k is still a substantial amount of pension provision to have in place for many people
 
Bluefin said:
Agree but 40k is still a substantial amount of pension provision to have in place for many people
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I agree, but the key thing is that it's almost impossible to come up with any one size fits all rule of thumb in this context. Whether it be an actual € amount, a multiple/fraction of final income, or anything else.
 
ClubMan said:
I agree, but the key thing is that it's almost impossible to come up with any one size fits all rule of thumb in this context. Whether it be an actual € amount, a multiple/fraction of final income, or anything else.
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Dont think anyones trying to come up with a one size fits all rule of thumb
 
ArthurMcB said:
Would that be net Gordon, would there not be some tax due on that? Maybe iv missed something.
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When I said “€5k a month net”, was it unclear whether I meant gross or net, is that the question?

There’d be around €6k of tax due on the two State Pensions and the €40k.
 
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Gordon Gekko said:
In today’s terms, €5k a month net landing into your account with no debt and no particular requirement to plan for the future is actually a lot of money.
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I agree.

My parents (late 60s) have probably a little more than that jointly in retirement with 2x public service pensions. They struggle to spend it all even with three foreign holidays a year and pretty active lives.
 
NoRegretsCoyote said:
I agree.

My parents (late 60s) have probably a little more than that jointly in retirement with 2x public service pensions. They struggle to spend it all even with three foreign holidays a year and pretty active lives.
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One thing I noticed when my mother passed away was the financial impact on my father.. Fixed costs remained the same more or less (think heating, house costs, car and food etc) but a major hit to household finances with loss of state pension and part time work.
 
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