And put money in a pension and can afford to retire early
There is plenty of ways now that you don’t have to take whats on offer there are other avenues you can go down
I even heard you can get a income and it’s all still yours it’s in your estate maybe not as much income but you can leave the bulk of it in your will, I just heard it so not sure if it’s true
So with the pension people who rip you off it works out about for every 100,000 you will get roughly about 3500 to 4000 a year and then it’s dies with you and if it doesn’t check the small print it might go to your other half for only 2 or 3 years
Get independent advice don’t just go with who you gave your money to
I’m doing drawdown rather than buying an annuity which is what you’ve described. So what that means is every year I choose to take whatever amount I decide out of my pension pot. When I die whatever is left gets passed onto whoever is in my will.
Buying an annuity, or drawing down capital, are both viable choices depefing on your own circumstances.
Spending a few quid to get independent advice is a good move too.
And “Money Saving Expert” should be required reading for eveyone. The plain language explanations, and common sense advice on all financial matters is excellent.