To ask how much your retirement pot will be

[Futurama1]

Off the back of some threads today, how much are you aiming to have in a retirement pot?

I’m going for 600k at today’s value which seems an insane amount but 20k per year for 30 years + state pension. What are you aiming for?

I put 2k per month in currently (inc employer contribution)

Christ sometimes I just hate Mumsnet. OP your salary is DOUBLE the national average. That is actually by most people's standards pretty wild.

I do realise I’m in a privileged position but honestly I’m surprised by how much hate this thread has received.

Clearly I’ve been tone deaf but it was a genuine question not designed to make anyone feel bad.

900 per month goes into my pension and that includes employer match. I’m putting the max into pension, I’m on 76k … wish the match contributions went higher.

My pension is not going to be good though, even though it sounds like it would be.

I dont think the op is bragging. But it's probably a good idea to check the mean and mode income of people in the UK before sharing this financial info. If you search for something on MN about pension contributions (eg like how much pension are you hoping to have) - you'll find that most responders can't afford to save for a pension and are relying on the state pension. So while you dont feel wealthy, you might find that being able to save a sum that is the monthly pre tax salary for many, is worth knowing...

You're 'prioritising' 2k a month 👍 Excellent OP...whilst back in the real world, the vast majority of us are not even EARNING 2K a month.

You do actually realise this of course...nobody is that naive.

I never get the point of threads like this but if it gives you something to chat about,

Fuck me. Many people don't even earn £2k a month, let alone have that spare to put in a pension.

I put £200 in a month. It's all I can afford due to not being able to be employed at present (so no employer top up) because I have a disabled child.

i don’t even earn £2k a month working full time (in a not minimum wage job)

Maybe stick to bragging about income and pension pots with people earning similar amounts to you

@Futurama1

As everyone is asking, I earn 60k per year, I wouldn’t class that as a wild salary.

60k puts you in the top 5% of earners in the UK.

Read the room.

£60k is a wild salary if you can afford to lose £1.2k of it a month to your pension. Our mortgage is £1.2k and we live in a shithole. Nursery fees were £1.5k a month for the first year. My pension is shit, thanks for asking,

We’re buffoons with money but I think we both have pretty good pensions with generous contributions from our employers.

My husband’s pot is worth £450k and I’m not sure about mine, but my yearly income at retirement is currently forecast at £33k. I’m not even sure what we should be aiming for.

There’s also a lump sum with each which you can choose not to take to beef up the yearly pension. I keep thinking I must look into additional contributions etc, but it’s all a minefield to me.

I have a DB pension which will pay 40k a year. Also aiming to save 200k so I can retire early.

I think this is a bit of a piss take OP. You have a good pension. Good news.
You must be morally superior, obvs. More clever, more discerning, whatever, you’ve got more, you’ve told us. Hth

Looks like OP has found their people

Good for you. Aren't you great. Well done 👍

@Futurama1

I do realise I’m in a privileged position but honestly I’m surprised by how much hate this thread has received.

Clearly I’ve been tone deaf but it was a genuine question not designed to make anyone feel bad.

Then use your brain next time and post in Money Matters or somewhere more appropriate than AIBU.

It’s a ridiculously tone deaf post.

Then use your brain next time and post in Money Matters or somewhere more appropriate than AIBU.
Ideally post nowhere and just count piles of money like Scrooge McDuck

At the rate I'm going it will be £5.21, a bottle of ginger beer, three buttons, a paperclip and a packet of Quavers.

i.e. nowhere near £600k

Have my very first

I think most of us with pension pots will be drawing down on the lump sum to top up our state pension. The amounts you have to save for a decent annuity are insane now ! So any little bit of savings is going to help ease things in retirement is how I see it .

Simple tip for everyone. If you save £10K per month, you’ll have an extra £120k at the end of every year. HTH

You can't have a very good pension scheme if you're putting that in each month to get that out. My annual dividend will be more than yours and I pay around a tenth of what you pay in. Your brag strikes me as foolish

What are you wanting to achieve from your thread OP? What is its purpose in other words .

I do 44 hours split over two NHS jobs and don't bring home what you save each month

OP. That is impressive you manage to save so much from that salary. I know people esrning at least double that put in half of that.

It makes sense to do it when your employer puts in so much.

But out of curiosity do you have a mortgage? Do you priories overpaying on that?

And do you ever fear a collapse of pension providers?

I think it depends on what you think you need to live on. I would suggest also stocks and shares plus maybe as you get older look for income from another source like property because 20k ain't going to get you that far