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With the current state of the stock market, a frequent topic of conversation with our clients is the value of their investment portfolio and what impact this will have on their retirement.
We can expect to live much longer than any previous generation, so the issue of providing sufficiently for our retirement is of increasing concern.
The following table shows how much a person needs to put away monthly to get a pension of £10,000 a year in real terms:
Source: The Annuity Bureau
The figures assume contributions are payable throughout the period to retirement at age 65 for a man. Contributions shown are before any tax deduction. Investment returns are assumed to be 7% a year throughout the period to age 65. The pension incomes shown are £10,000 in real terms, ie with inflation assumed at 3% pa until age 65. The pensions shown are based on annuity rates available today. The pensions shown all provide income monthly in arrears, no guarantee period, single life and escalation in payment in line with the retail prices index.
Here are some of our Investment tips, based on our principles of investing: