How Much Is Enough?

What does “enough” look like for you?

Use today’s money, for one person or one household. The figures shown are examples — replace them with your own. You can type amounts like 60,000 or 800k.

1 · When the money is needed

When do you want this money to start supporting your lifestyle? Now In a future year

2 · The life you want

Yearly spending, including tax Everything you expect to spend in a normal year, plus an allowance for income tax. Tax is not calculated for you.

3 · What you already have

Secure income now Yearly income before tax that has already started: State Pension, final salary (DB) pensions, annuities. Income that starts later goes in section 4.

Savings, investments and pension pots Accessible cash, ISAs, investments and DC pension pots. Exclude your home and DB pensions.

4 · Income that starts later optional

For example, a State Pension or final salary pension that starts after your money is first needed.

Yearly amount Before tax, in today’s money. Leave at 0 if none. If two pensions start at different times, this tool can only show one start date. Do not include this income in both boxes.

Years until it starts Whole years from 0 to 40. Enter 0 if it has already started. Needed whenever an amount is entered.

yrs

5 · Money set aside optional

Big one-off plans Home improvements, gifts to family, a new car — not already in yearly spending. Include any tax payable when you withdraw money to pay for them.

Capital set aside for inheritance Kept apart from lifestyle spending in this calculation. It is not a forecast or a promise of what will be left.

Later-life support and care reserve Enter an amount Not considered yet

An optional amount set aside for additional support or care in later life. Use today’s money. This is not an estimate of what care will cost. Exclude costs already included in your annual spending or other reserves.

6 · Your assumptions

Yearly withdrawal rate The share of the capital you assume you could draw each year. Lower is more cautious. This is not an investment return or a recommendation.

This is an illustrative target, not a forecast. It divides your long-term yearly gap by the withdrawal rate, then adds a bridge reserve for any extra gap before later income starts, and any amounts you set aside. It does not test whether withdrawals will last, and it does not model investment growth, future saving, inflation, charges, market falls or how long you will live. It treats your income as keeping pace with prices; some pensions and annuities do not. Tax is not calculated: income is entered before tax, so your spending figure should include an allowance for tax. Withdrawals from savings, investments and pension pots are not guaranteed. Its purpose is to start a conversation, not to finish one.

Your Enough Number

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Capital target to start now, in today’s money.

Enter your figures to see your number.

You have —Target —

What makes up your number

Long-term spending capital—
Bridge reserve for the extra gap before later income starts—
One-off plans—
Inheritance reserve—
Later-life support and care reserve—

Yearly gap to fund from savings—

Secure income covers—

Above / below your number—

Illustrative yearly withdrawal from the long-term pot—

How much the withdrawal rate matters

How this was worked out

What does “enough” look like for you?

What if your money needs to last until 90, 95 or 100?

Enough is more than a number