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Can £700k fund a £55k retirement at 56?
Original: I’m 56 with £700k. Can I retire and (safely) spend £55k per year?
A personal finance question is drawing wide attention: whether a 56-year-old with £700,000 in savings can safely withdraw £55,000 a year for the rest of retirement. Retiring before state pension age raises concerns about sequence-of-returns risk, investment growth, taxes and how long the pot needs to last, making it a debate many people approaching early retirement are following closely.
Why now: Early retirement sustainability at a modest pot size is a concern widely shared by people in their 50s planning their finances.
retirement planningpensionsUnited Kingdom
Evidence
- I’m 56 with £700k. Can I retire and (safely) spend £55k per year? · James Shack · 195.5K
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