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[TheBoy]

HS2 road closures again.  Well not so much the road closures, though fail to see why they are needed*, but the diversions, with the diversion for each of the 2 roads heading south that they have closed on the same weekend leading you to the other road, also closed.  They really are breakless retards!


*Both these roads, they have spent 4 years building new road bridges over the pointless vanity line, both bridges now completed earlier this year.  But they still regularly close the roads at the weekend - not that they ever do much work at the weekend.

[tunnie]

At least £1m as far as I can tell. But it depends on what life style you want, what bills you have etc.

A safe withdrawal rate on a pot is about 3.5-4%, rising by inflation, so likely the max you'd want on there is about £1.5m (in today's money). This would allow you to sustain c£50k withdrawals for life after taking the maximum tax free cash of £298k. Much above that and you're paying 40% tax on the money on the way out. Which still might be a good deal over all but it makes having to lock the money up until 58/59 much less attractive than it would be otherwise.

This is roughly where I'm hoping to be by 58 but a lot has to go right (and keep going right) to make it happen 

That said I would personally always keep putting in enough to get the employer match as investment returns aren't guaranteed and an instant 100% uplift in your money is the best you'll see.

I was reading some suggestions that spreading the tax free amount and not taking it as a lump sum can work better. Eg take 30k year and top up tax free by 20k or similar. To avoid the 40% tax.

Either way I still need way more than I have now!

[tunnie]

There's always OnlyFans.....   

I tried that but, surprisingly, I didn't get a lot of interest.

I also suggested this to the wife, she was not keen.  

Oh blimey I wasn't suggesting that you pimp out Mrs T on OnlyFans! 

I was thinking there might be a niche following for a tall gangly bloke playing with his train set.  Artfully done of course! 

 

There could be a few train related puns as well 

[tunnie]

I've been playing an awful lot with my various tax avoidance options at work, just to see the minimum I can live on, long term, without impacting my current quality of life.

Clearly I'm cheap to run, as it won't let me do further tax avoidance, as it says that would put me under minimum wage.

The spreadsheets - I need a grown up to double check the maths in my formulas is correct - should if I take out what I currently get in my salary after all my tax avoidance schemes (and with the income tax element I'll have to pay), I'll never spend all my money by the age of 99 (in fact, I'll have a lot more than I started with, but obviously it will be worth an awful lot less).

That's issuing assumptions of state pension increasing at 2.5% (I did it pre the triple lock change, though currently 2.5% is still the minimum), and inflation is 2% (perhaps a little low), and investment growth rate a ridiculously low 1%.


I don't think it should be this easy, hence convinced I've missed something fundamental.

I’m surprised you’ve not gone EV on sacrifice. It’s one of the best tax avoidance things around as far as I can tell. With the benefit of cheap hassle free motoring.

I was borderline forced to, to keep money away from Mr Tax man. Assuming I still have my job in 2028 I will have maxed out nearly everything to reduce my tax. 

Could be sooner depending on this next budget