What It Means To Retire With £180K Pension & £75K ISA at 60

1 - RETIREMENT CALCULATOR - https://financialeducation.co.uk/reti... - Use our interactive model to help you work out how much you need and how much you can spend in retirement. 2 - EQUITY RELEASE CALCULATOR - https://financialeducation.co.uk/how-... - More and more people are using equity release to fund their retirement. Use the free calculator to see how much you could borrow. 3 - RETIREMENT PLANNING CHECKLIST - https://financialeducation.co.uk/reti... - Download my free checklist and make sure you have not missed any of the big retirement decisions, deadlines or details. Retiring at 60 with £180,000 and £75,000 in an ISA Yes, you can retire at 60 with £180,000 in a pension and £75,000 in an ISA, drawing around £21,500 a year (about £1,800 a month) and still reaching 90 with roughly £38,600 in reserve. What decides whether it works is the order you take the money out, and spending the ISA first is the instinct that costs you. If you're asking how much you can take from your pension tax-free, whether to spend your ISA or pension first, or how to bridge the gap until State Pension age, this video runs the numbers year by year. Taking Uncrystallised Funds Pension Lump Sum (UFPLS) payments of £16,760 a year, where 25% is tax-free and the rest fills your £12,570 personal allowance, and topping up with about £4,740 from your ISA, means no income tax at all from 60 to 66. Taking UFPLS does trigger the Money Purchase Annual Allowance, which cuts future pension contributions to £10,000 a year. HOW MUCH CAN YOU TAKE FROM YOUR PENSION TAX-FREE EACH YEAR? With UFPLS, 25% of each withdrawal is tax-free, so you can take £16,760 a year and the taxable £12,570 sits exactly inside your personal allowance. That only works with no other taxable income, as a part-time wage or small pension eats into it pound for pound. SHOULD YOU SPEND YOUR ISA OR PENSION FIRST IN RETIREMENT? On these numbers, filling your allowance from the pension with the ISA topping up leaves around £38,600 at 90, against roughly £20,200 if you spend the ISA first. The wrong order also hands HMRC about £14,000 you never owed, though from April 2027 an inheritance tax problem can flip the answer because unused pensions come into your estate. WHAT HAPPENS TO YOUR TAX WHEN THE STATE PENSION STARTS AT 67? The full State Pension of £12,548 uses up almost all of your £12,570 personal allowance, so the taxable part of every pension withdrawal is taxed from almost the first pound. That adds roughly £1,600 a year in tax that simply wasn't there during the bridge years. RESOURCES Retirement Living Standards: https://www.retirementlivingstandards... Institute for Fiscal Studies: https://ifs.org.uk ABOUT ME My name is Saq Hussain, and I have over 25 years of experience in the UK pension industry, helping to shape pension and retirement strategies for some of the world's largest organisations. BACKGROUND & ROLES Strategic Advisor: EY (Ernst & Young) Pensions Former Director: UK Head of DC Pensions, Benefits & Wellbeing at PwC Pension & Benefits Consultant: Aon, Willis Towers Watson and KPMG PRESS CITATIONS This Is Money (Daily Mail): https://www.thisismoney.co.uk/money/p... The Express: https://www.express.co.uk/news/politi... CONNECT WITH ME Retirement & Pensions: https://financialeducation.co.uk Help & Advice: https://helpandadvice.co.uk Later Life Care Planning: https://ukcareguide.co.uk LinkedIn:   / saq-hussain   LISTEN ON PODCAST Spotify: https://open.spotify.com/show/6786MNM... Apple Podcasts: https://podcasts.apple.com/gb/podcast... DISCLAIMER: For educational purposes only. Not regulated financial advice. Consult a qualified advisor before making pension decisions.