Hi All
Just looking for some opinions on our situation. Trying to forward plan and if possible retire a little early.
Age 46 Wife 45
Both Employed since late teenage years Wife Part Time at the moment.
Pension Only me Wife doesn't have one.
Current Pension Pot €320,000
Monthly Contributions (14% employer 9.5% Employee) total going in each Year €20,000
Contributions will increase slightly each year by approx 3%.
I'm trying to work out if I could afford to retire at 60 so in approx 14 Years. Would what I have now and my future contributions provide me with a pension of approx €650 per week? When State Pension kicks in @ 68 what would we be entitled to if we both work to 60?
I reckon we could get by comfortably on €650 per week as Mortgage will be gone by then.
Any comments are appreciated.
Just looking for some opinions on our situation. Trying to forward plan and if possible retire a little early.
Age 46 Wife 45
Both Employed since late teenage years Wife Part Time at the moment.
Pension Only me Wife doesn't have one.
Current Pension Pot €320,000
Monthly Contributions (14% employer 9.5% Employee) total going in each Year €20,000
Contributions will increase slightly each year by approx 3%.
I'm trying to work out if I could afford to retire at 60 so in approx 14 Years. Would what I have now and my future contributions provide me with a pension of approx €650 per week? When State Pension kicks in @ 68 what would we be entitled to if we both work to 60?
I reckon we could get by comfortably on €650 per week as Mortgage will be gone by then.
Any comments are appreciated.