How to use it
- Use the formula below with your own figures.
The formula
Income = withdrawals + pensions + other sources.
Worked example
Combining a pension with drawdowns can cover most budgets.
Frequently asked questions
What sources count?
Pensions, savings withdrawals, part-time work, benefits.
How to avoid shortfalls?
Match income to essential spending first.
Tips
- Start early; a decade of compounding is hard to replace.
- Always capture any employer match in full.
- Revisit your plan yearly as income changes.
Key terms
- Nest egg
- Total retirement savings.
- Drawdown
- Withdrawing from a pot over time.
- Match
- Employer contributions to your plan.