I know it seems like my calculation is incorrect as I earn 65k now. I put 80k in the pensions modeller as by the time I retire, I will have got the long service increments as well as forsa pay increases.
There is not much danger of hitting the 40% tax bracket with my pension as it is 44k now and the governmrnt want to increase it to 50k over the next few years.
I know it seems like my calculation is incorrect as I earn 65k now. I put 80k in the pensions modeller as by the time I retire, I will have got the long service increments as well as forsa pay increases.
Got it now. I wouldn't factor in the FORSA increases though as you want to get a sense of what you will have to live on in today's terms - and those increases might just about match cost of living rises in the interim.
Anyway, best of luck with it. And retirement is great! Get it while you can.
Agree with the previous poster, I would have asked loads of questions here based on feedback from previous questions, and posters were very kind and had a lot of patience as I worked through my situation.
I realised as a result I could retire at 60, a couple of years earlier than I planned.