Checking my plan…
I’ve been using AI to help me plan out my future retirement plans! It’s not as aggressive as some but this is probably the most I can manage and really aimed to keep me under the 60% trap!
I’d love input here to validate my plans and make sure AI isn’t leading me down the wrong path here! 38 years old, target is 55 retirement latest ideally…
I currently have the following investments:
- 320k pension (world ETF) - access currently 57
- 60k SS ISA (world ETF)
- 5k LISA
- 10k emergency fund
- house worth around 700k (remaining mortgage 290k).
Over next 5 years I’m smashing the pension trying to hit 50-60k contribution (company is about 16k of this). ISA will probably hit 5k per year. This is basically designed to keep me under the 60% trap and tax optimised but also allowing me to kind of set and forget my pension after 5 years…
Then after 5 years assuming nothing changes take tax hit and switching focus to ISA, bonds etc and leaving pension as company match only (16k PY).
I want a comfortable retirement where I don’t need to worry about cash, Several holidays, sports car etc…
How am I doing, is this realistic based on my plans? Would anyone change my focus here? AI is telling me to focus on pension for now which is what I’m doing, would love input!