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LateGenXer / finance

Personal Finance Calculators
https://lategenxer.streamlit.app/
GNU Affero General Public License v3.0
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UF1 not getting to zero #3

Closed thisiscristo closed 1 month ago

thisiscristo commented 1 month ago

Hey Firstly - thank you so much for the calculator. It's amazing. Can you please help me answer this.... When I plug in my numbers and set Retirement Income to 0 (maximum) it still leaves my UF1 with a healthy amount and it forecasts me being left with £2.5m. Is my understanding of that right? Anyway I can alter this calculation so the UF1 gets used up a bit more? Or is it already used and I am misunderstanding it...!? Thanks

rtp-2024-09-25-10_47_18+00_00.json

LateGenXer commented 1 month ago

The problem is that there aren't enough funds on the ISA/GIA to sustain higher spending until pension can be accessed.

The calculator could use different retirement income figures pre/post- pension access, but that's not how it's designed.

You need to reduce your pension yearly contribution, and increase the GIA/ISA yearly contribution to even out things if you want to retire this early.

thisiscristo commented 1 month ago

thanks for coming back to me so quickly, I'll have a play around.