#30 Is the 4% pension drawdown rule before or after tax?

The Money Spot™ - UK Personal Finance

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#30 David asks: Hi Heather I’m really enjoying your podcasts and have already given a 5 star rating. I am 57 and plan to retire at 60 so love your retirement items. When talking about 4% draw down for retirement income, it’s never clear if the figures are before or after tax. For example 4% of £1m is £40k, but after tax this could be nearer £30k. If you then get a state pension of say £9k, the figure before tax is £49k, but after tax it is nearer £35k. So when you talk about money needed in retirement, do you mean before or after tax? Thanks, David Related resource: https://www.katsonga.com/wealthblog/is-the-4-pension-drawdown-rule-before-or-after-tax Ask me a question: https://www.katsonga.com/coach.html Choose a book: https://www.katsonga.com/mybooks.html Support the podcast: In $: https://www.buymeacoffee.com/TheMoneySpot In £: https://www.patreon.com/TheMoneySpot Your way: https://www.paypal.me/katsonga

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#Podcasting Education #Money Spot™ UK Personal Finance #Heather Katsonga-Woodward