I revisited my retirement plan the other day. I’ve got a really geeky spreadsheet that I can play with to work out whether I’d be on track to retire under different scenarios. Anyway, I realised that I’d forgotten to include my stocks and shares ISA into the mix, even though I plan to use that money for retirement.
Guess what I discovered.
If I maintain my current contributions (increasing them only with inflation) I’ll be able to retire a full 10 years earlier than I originally expected, providing that my annual investment return is about 4% above inflation. Of course I intend to ramp up my contributions rather than keep them relatively level as I put half of every pay rise into investments.
To me, this is quite exciting news, especially as the new possible retirement date is actually about the time that I’ll have paid off the house. And of course, my definition of rich is not having to work for a living.
sharing my retirement calculator
I know that some of you are also spreadsheet fans, so if you’d like to have a play with my retirement calculator then why not download it?
It’s all zipped up for you and works in both Excel and also the free Open Office spreadsheet program. If you spot any bugs or flaws please let me know.
You can tweak quite a few variables to come up with different scenarios, I hope you like it
- do you think about retirement?
- expat finances – National Insurance and State Pensions
- which is better: ISA or pension?