3 Simple Ways To Make Your UK Pension Drawdown Last For Life

[@jencarter6785]

Best explanation of dynamic spending I’ve found so far!

[@chrisbourne-retirementplanner]

Thank you glad it’s useful!

[@michaelfleming8517]

This is a brilliant video Chris. Loads of great information provided really clearly. Have only recently discovered your channel and am loving your content. Thanks for making and sharing. Keep up the good work. Thanks. Michael

[@chrisbourne-retirementplanner]

That’s very kind Michael thanks for taking the time to comment 👍🏼

[@plasticcreations7836]

Forecasts of market crashes are like newspapers predicting heatwaves. They say there's going to be one every year and then they have to get it right at least once.

[@h-uk7702]

You have a great ability to explain these things, and an optimistic style that really helps. Thank you.

[@chrisbourne-retirementplanner]

That’s a nice comment. Thank you!

[@celiaxel3448]

Many thanks for the video!

[@chrisbourne-retirementplanner]

Glad it was helpful!

[@andyhitchings3456]

Great series of video’s Chris. Im planning to retire in 5 years and how to manage my savings, investments and spending post retirement was a gap in my knowledge so this is bang on point. Thank you :-)

[@chrisbourne-retirementplanner]

Cheers Andy glad the vids have helped fill a gap in your knowledge! 👍🏼

[@Smith6265]

@@chrisbourne-retirementplanner Hello, I would like to swap my pension for annuity , but I live in the UK and I’m on disability benefits. Will I receive pension credits to top my pension? I will only receive £16.45p a week if I choose to collect my annuity now.

[@davegardner3779]

Hi Chris. I’ve just discovered your videos on KZbin and they are really helpful and informative. Would you please be able to send me the details of the research on Dynamic Spending- many thanks! Dave

[@chrisbourne-retirementplanner]

Thanks Dave! Here is a link to Vanguard's article on Dynamic Spending... www.vanguardinvestor.co.uk/articles/latest-thoughts/retirement/four-steps-safeguard-retirement This was based on a more detailed white paper they released in March 2021 called ‘Sustainable Spending Rates in Turbulent Markets.’

[@yotubenick]

Great video Chris, thanks. It would be great if Vanguard built dynamic spending tools into the drawdown part of their SIPP

[@chrisbourne-retirementplanner]

Yes I think it would Nick. I’m not sure if this is functionality they may add in future, but my guess is that they’ll keep this a part of the process in their advised service.

[@thewinkler6647]

Very good sound advice again Chris, thank you.

[@chrisbourne-retirementplanner]

You’re welcome! Thanks for watching.

[@mimigization]

Chris, I’m close to retirement and think I may need some advice from a financial planner in the next few months. I live in Coven and believe you are Wolverhampton based? How is the best way to contact you for a chat ?

[@chrisbourne-retirementplanner]

Hi there. Yes you're just down the road as they day! Please find all my contact details in the About section of my channel page.

[@Kalarandir]

Thanks' for all the great info Chris. I only discovered your channel a few weeks ago, but I have learnt so much. I am fortunate to have a military pension waiting for me in 5 years, and have my home paid off. I plan on going part-time at 60. Everything so far has been going great thanks to all the great information that is available on platforms such as KZbin. However, I was not entirely sure what to do when I do semi-retire. Now, thanks to your info I have been able to form a plan based on tax free allowances and ways to draw on my capital I did not know existed. May be financial planners are not a waste of money. :P

[@chrisbourne-retirementplanner]

I’m glad I’ve been able to convince you Brian! Great to hear you’ve got value from my vids.

[@KevinSmith-eq9qr]

Hi Chris this is all great learning for me as I am starting to plan my retirement. I am interested in the Dynamic Drawdown approach

[@chrisbourne-retirementplanner]

Thanks Kevin. It's great to hear that you've gained some value from my content so far.

[@grahamgilbert9331]

Hi Chris. Enjoyed the video. I’ve put aside 3 yrs of income into Cash Isa’s to account for stock market downturns. I’m due to retire next year and thought as this is the most tax efficient way of doing this,but,may change this to Stks/ Shares as I would be losing on growth during the last Yr prior to retiring. My question is how does this method differ to Flexi Access Drawdown ? Thanks

[@chrisbourne-retirementplanner]

Hi Graham. You may or may not miss out on growth - growth on stocks is not guaranteed over a short period like 1 year. You can’t know in advance, so it can be better to deal with what you know. Better to get a slightly lower return for a year than to lose money if markets went south. Depending on how you intend on taking benefits you may not have time to recover from such a downturn. Flexi-access drawdown is one method to take your pension benefits. Benefits taken from flexi-access drawdown have already been crystallised, I.e tax free lump sum has already been taken. All future withdrawals are therefore taxable. Taking benefits via phased drawdown just means you crystallise a small amount of your total pension pot every month, so part of the payment is tax free lump sum and the other part is taxable income. Let’s say you want £2k per month… If you do this via phased drawdown, £500 is tax free and £1500 is taxable. Your remaining pension benefits then remain ‘Uncrystallised’ in the personal pension/SIPP. Taking benefits from flexi-access drawdown means you’ve already taken all of the tax free lump sum; you are just drawing on the remaining taxable pot. I hope that makes sense.

[@chrishayward4649]

Really useful, very balanced and informative. Wish I'd seen these videos and others I've viewed over the last month back in 2021. Thanks very much and keep up thee good work.

[@chrisbourne-retirementplanner]

Thanks Chris really appreciate that 👍🏼

[@manishrana6]

Awesome video..u r doing a gr8 service with making this informative videos.keep up the good work

[@chrisbourne-retirementplanner]

Thanks very much! I appreciate that. Glad you’re enjoying the vids.

[@johngibson5470]

Hi Chris - would love to receive more info on the Vanguard Dynamic spending if you are kindly offering to send link/details thanks.

[@chrisbourne-retirementplanner]

Hi John. Sometimes YT doesn’t like links, but if you search for Vanguard white paper on dynamic spending, it should come up as the top result. I believe it is called A Rule For All Seasons.

[@madmuppet8039]

Hi Chris, Thanks for putting this together, it’s been informative and very useful to me at this time, I’m 57 and about to retire soon through ill health, (nothing too serious !) I’m about to go into drawdown next week, 15th February and have an appointment with my FA soon. Although I’d like to think he would have this covered, you can never be too sure, so this information came at the perfect time for me and will be a very good option to consider, Thanks again.

[@chrisbourne-retirementplanner]

Glad it’s timely Andy! Thanks for watching 👍🏼

[@malcolmlowe9722]

Another useful video Chris, thanks. One thing I find strange in all examples / models is the assumption that income needed will be fixed for the foreseeable future. I am not yet retired but assume that most peoples income needs at the start of retirement will be higher than later in retirement as health will be better in 60’s than in 90’s. Therefore drawdown will be higher at the start of retirement than later? To enjoy retirement Is this the reality? All models / examples assume same income from start of retirement to 100.

[@chrisbourne-retirementplanner]

Quite right Malcolm. Income needs in retirement are often changeable, so plans need to be built with this flexibility in mind. Sometimes we find that income requirements increase again very late in retirement due to long term care needs. This shape of income requirement is sometimes referred to as the retirement smile (starts high, goes lower, then goes higher again). It’s why careful planning is needed.

[@daze9663]

Hi Chris I would like the Vanguard dynamic spending chart please

[@chrisbourne-retirementplanner]

Hi there. Here is a link to Vanguard's article on Dynamic Spending... www.vanguardinvestor.co.uk/articles/latest-thoughts/retirement/four-steps-safeguard-retirement This was based on a more detailed white paper they released in March 2021 called Sustainable Spending Rates in Turbulent Markets. Unfortunately though that paper is for professional advisers only.

[@seanbyrne2220]

Hi Chris could you send busy Vanguard information

[@chrisbourne-retirementplanner]

Hi Sean. Here is a link to Vanguard's article on Dynamic Spending... www.vanguardinvestor.co.uk/articles/latest-thoughts/retirement/four-steps-safeguard-retirement This was based on a more detailed white paper they released in March 2021 called Sustainable Spending Rates in Turbulent Markets. The paper is for professional advisers only so I can't share it with you directly. If you looked for it I'm sure it is possible to find, but it would require you declaring that you are an advice or investing professional, which I obviously cannot encourage.

[@seanbyrne2220]

@@chrisbourne-retirementplanner many thanks Chris a very interesting and informative information on dynamic spending

[@StokeseyHD]

Chris just as a small tip, in the thumbnail don’t use a red outline. I thought I’d watched this video because the red line at the bottom makes it looks like you’ve watched it!

[@chrisbourne-retirementplanner]

Ah I didn’t think about that. Great tip Callum - that’s noted thank you 👍🏼

[@markbonnick9808]

Learning a lot from your videos, Chris. I’m thinking of retiring imminently and would be interested in reading more about the dynamic drawdown approach to see whether imminent retirement is feasible. Thanks

[@chrisbourne-retirementplanner]

Hi Mark. That’s great to hear! Here is a link to Vanguard's article on Dynamic Spending... www.vanguardinvestor.co.uk/articles/latest-thoughts/retirement/four-steps-safeguard-retirement This was based on a more detailed white paper they released in March 2021 called Sustainable Spending Rates in Turbulent Markets. Unfortunately though that paper is for professional advisers only.

[@maxgolaz1]

Thanks for your content. On the dynamic spending model, I understand that if growth is above ceiling or below floor levels, income is drawn at ceiling and floor levels, but can you clarify my understanding that if growth is anywhere in between these levels ( eg at -1% or +4%), do you then just draw your flat target income, and do not adjust income drawn to the growth rates? Thank you

[@chrisbourne-retirementplanner]

Hi Max. Apologies - I missed this one. You set the guide rails and determine the following year’s income by applying a fixed percentage withdrawal to the value of the pot on anniversary. If above or below the guide rails, the max or min applies, but if within the guide rails, you use the exact figure. This is best explained with an example. See my more recent video called ‘99% of People Don’t Know About This Strategy’, from about 10:45 onwards.

[@michaeli160954]

Great video , very informative. Thank you

[@chrisbourne-retirementplanner]

Thank you - much appreciated.

[@rogerpike4605]

Hi Chris another great video can you send a link to the vanguard info please thanks

[@chrisbourne-retirementplanner]

Hi Roger... I've put it in the description now for you under 'Vanguard article on Dynamic Spending' - I'd send the link but sometimes comments with external links are disallowed by KZbin.

[@chrisbourne-retirementplanner]

I think the article provides the best breakdown of their quite complex white paper on the topic.

[@billmccreath9930]

Thanks again Chris. Really helpful even for those of us who will receive a decent monthly pension in addition to having good levels of capital.

[@chrisbourne-retirementplanner]

I appreciate it Bill! Yes good income plus capital = retirement happiness 👍🏼

[@michaelharrison9340]

Excellent thank you.

[@chrisbourne-retirementplanner]

You’re welcome thanks for watching 👍🏼

[@stevegeek]

Good video Chris. I’m interested to know your thoughts on this strategy: Invest bulk of pension ( let’s say £500k) in only high quality global equity income funds, and living off the dividends, while leaving the funds intact. A 4% return does not seem unreasonable and would give £20k income. Hopefully the funds would grow over time also. Thanks.

[@chrisbourne-retirementplanner]

Hi there. It can work as long as the dividends across the portfolio don't reduce, which they are always prone to do in an economic downturn. Sadly, there isn't a silver bullet approach and we have to manage different types of risk as best we can.

[@peterharris3096]

If you have a pot comprising of one third pension, third stocks and shares isa and the remaining third in cash. Would a 4% drawdown from each varied year to year depending on market performance be a reasonable strategy tp pursue. Thanks.

[@chrisbourne-retirementplanner]

Hi Peter. That’s a lot of cash to hold which would certainly be eroded at that level of withdrawal. To minimise performance drag it may be necessary to hold more of the total in asset backed investments.

[@robertjones4929]

Hi Chris, can I have the link to the Vanguard information please?

[@chrisbourne-retirementplanner]

Hi Robert. Here is a link to Vanguard's article on Dynamic Spending... www.vanguardinvestor.co.uk/articles/latest-thoughts/retirement/four-steps-safeguard-retirement This was based on a more detailed white paper they released in March 2021 called Sustainable Spending Rates in Turbulent Markets. Unfortunately though that paper is for professional advisers only.

[@Bracebarian]

How do you factor in the state pension into the equation of the size of your portfolio? Do you add a pot of cash equivalent to say 15 x FSP, say around £160k?

[@chrisbourne-retirementplanner]

There’s no need to create a multiple of the state pension because it will never run out. You only need to be concerned with preserving defined contribution plans.

[@michaeli160954]

Another great video. Can I have the Vanguard dynamic drawdown please ? Just about to start using my pension.

[@chrisbourne-retirementplanner]

Hi there. Here is a link to Vanguard's article on Dynamic Spending... www.vanguardinvestor.co.uk/articles/latest-thoughts/retirement/four-steps-safeguard-retirement This was based on a more detailed white paper they released in March 2021 called Sustainable Spending Rates in Turbulent Markets. Unfortunately though that paper is for professional advisers only.

[@simonrlewis]

Hi Chris, I have a Vanguard pension account but couldn’t see Dynamic Spending research, please foward info. Also, I went into drawdown in April, it feels like the exact wrong time due to global situation- do you have a video/ thoughts on this? Thanks

[@chrisbourne-retirementplanner]

Hi Simon. Here is a good article from Vanguard on Dynamic Spending: www.vanguardinvestor.co.uk/articles/latest-thoughts/retirement/four-steps-safeguard-retirement My two most recent videos are probably worth watching for reassurance on current investment climate.

[@ajitpt67]

Please send Vanguard research

[@themaskedmoneysaver]

Great video as usual Chris. Thank you for all this informative and valuable information. I haven't heard of dynamic spending, please could you send me the research. Thank you very much

[@chrisbourne-retirementplanner]

Thanks Anita. I think this article from Vanguard summarises their white paper on the topic most succinctly... www.vanguardinvestor.co.uk/articles/latest-thoughts/retirement/four-steps-safeguard-retirement

[@chrisbourne-retirementplanner]

I've put it in the description now too 👍

[@gobshite99]

Im from the furure . No market crash.

[@jkishan16]

Hi Chris, A great and concise video as usual! Can I ask if the Vanguard research you refer to is public information (ie regularly published on their site) or something you attain due to your relationship with Vanguard? If public, can I ask for the link to the Vanguard library with all identical research papers, but if not public, can I please request for a copy of the research paper please. :) I have another few queries I wanted to DM you directly, is there a way I can do that either through your professional email/LinkedIn? Thanks Jai

[@chrisbourne-retirementplanner]

Hi there. Yes you can find my various contact details in the video description or About section of my channel. Would be happy to send Vanguard links to you.

[@andyr3802]

I’d be interested in the Vanguard research, thanks!

[@chrisbourne-retirementplanner]

Hi Andy. Here is a link to Vanguard's article on Dynamic Spending... www.vanguardinvestor.co.uk/articles/latest-thoughts/retirement/four-steps-safeguard-retirement This was based on a more detailed white paper they released in March 2021 called Sustainable Spending Rates in Turbulent Markets. Unfortunately though that paper is for professional advisers only.

[@grahamgilbert9331]

Hi Chris,Brilliant video could you please send me Vanguards Link for Dynamic Spending

[@chrisbourne-retirementplanner]

Hi Graham. Here is a link to Vanguard's article on Dynamic Spending... www.vanguardinvestor.co.uk/articles/latest-thoughts/retirement/four-steps-safeguard-retirement This was based on a more detailed white paper they released in March 2021 called Sustainable Spending Rates in Turbulent Markets. The paper is for professional advisers only so I can't share it with you directly. If you looked for it I'm sure it is possible to find, but it would require you declaring that you are an advice or investing professional, which I obviously cannot encourage.

[@grahamgilbert9331]

@@chrisbourne-retirementplanner Thanks Chris

[@stephenharding6252]

Hi Chris thanks for the video,I will have a pension pot of 30000 in 4 years am I allowed 25% of the pot tax free each tax year or as a one off,as I was looking to withdraw £6000 per year thanks

[@chrisbourne-retirementplanner]

Hi Stephen. You can draw 25% of any amount you crystallise as a tax free lump. I.e, if you took a £10k total withdrawal, £2.5k would be tax free. You don’t have to take all of your tax free lump sum in one go but if you did crystallise the full £30k in one go, £7.5k would be tax free (the remainder would be subject to tax). If the part that is subject to tax falls within your Personal Allowance though there would be no tax to pay. To understand how tax free lump sum works watch my vid titled ‘How To Get More Than 25% Tax Free Pension Lump Sum’.

[@67eamonn]

Thanks, Chris. Your videos are invaluable. Is there a good strategy for avoiding being stung for emergency tax when first drawing down? I know it can be claimed back but I'd rather find a way to get the right tax code in the first place.

[@chrisbourne-retirementplanner]

Hi Eamonn. Yes this is a real problem. The best way to deal with this is to take a small nominal payment from your pension first, say £100, or whatever minimum amount the provider will allow. This allows for the tax code to adjust to the correct one before taking your first full payment, ensuring emergency tax is avoided.

[@roblowry9457]

Great video. I will have a DB pension but also a SIPP to supplement it. I was wondering how to hold the 2 years - hadn't realised I can keep this as cash in the SIPP drawdown wrapper. Presumably can transfer chunks from this to bank account as needed? Thanks again

[@chrisbourne-retirementplanner]

Cheers Rob. Yes you can - withdrawing from cash protects the investments, particularly if values have fallen just before you need to take a withdrawal.

[@Huxley350]

Great video mate, sequencing risk is massively misunderstood. Particularly in the FIRE community!

[@chrisbourne-retirementplanner]

Totally agree Josh. It’s too readily overlooked by people who’ve only invested in a bull market!

[@Huxley350]

@@chrisbourne-retirementplanner I’m often guilty of this, been advising since 2011 and it’s been nothing but bull since then so I have to check myself every time. Fear this will come back to bite people hard.

[@chrisbourne-retirementplanner]

Well that’s still longer than a lot of people have invested for John. At least you know to consider the risk! 👍🏼

[@martindobie981]

Please send details on dynamic spending, thanks.

[@chrisbourne-retirementplanner]

Hi Martin. Here is a link to Vanguard's article on Dynamic Spending... www.vanguardinvestor.co.uk/articles/latest-thoughts/retirement/four-steps-safeguard-retirement This was based on a more detailed white paper they released in March 2021 called Sustainable Spending Rates in Turbulent Markets. The paper is for professional advisers only so I can't share it with you directly. If you looked for it I'm sure it is possible to find, but it would require you declaring that you are an advice or investing professional, which I obviously cannot encourage.

[@jamesparry5154]

Brilliant video Chris! A two year cash buffer makes a lot of sense, to protect against sequence of return risk. With this approach, are bonds still relevant or does it imply that 90% could sit in equities during drawdown?

[@chrisbourne-retirementplanner]

Hi James. Bonds still play a valuable role. I will actually be doing a video soon on exactly why bonds are still important, even with rates on cash now more favourable than they have been for a long time.

[@jamesparry5154]

@@chrisbourne-retirementplanner look forward to it! Do you intend on covering different bond options? Such as held to maturity gilts, bond funds or different maturity blends?

[@david99m]

Hi Chris, regarding holding cash within a pension or ISA, are there any fixed interest funds or accounts you can invest this in to try and reduce inflation impact? Everything I've seen pays next to zero once fees are taken into account. Nothing like the fixed rate interest you can get from your bank outside of a pension / ISA.

[@chrisbourne-retirementplanner]

Hi David. Yes SIPPs will allow you to place cash with external deposit institutions that can offer higher rates. They are usually notice or fixed term based though, so access is not possible instantly and for me, that defeats the object. If you are actively drawing on the cash I don’t think inflation is anything to worry about - the cash isn’t there long enough for inflation to have any real effect.

[@Dazzy1107]

Very informative Chris, thank you for producing .

[@chrisbourne-retirementplanner]

You’re welcome Darren. Thanks for watching! 👍🏼

[@Banthah]

Great video as always Chris, thanks. Just read the Vanguard article and it does indeed make interesting reading. A whole new way of thinking. Do you have any idea why they chose the 5% and -2.5% limits specifically? Are these just arbitrary numbers, or based on analysis?

[@chrisbourne-retirementplanner]

Good question Chris - I asked the same. There is some research behind it apparently... Vanguard tested multiple ceiling and floor iterations on a historical basis and found 5 and -2.5 to be the closest to optimal.

[@Banthah]

@@chrisbourne-retirementplanner Thanks Chris. Well, who am I to argue with Vanguard?! Although I can’t help but feel 2.5% to -2.5% would keep the funds higher, it would not provide as much income, so fair enough. I’m sold…

[@weemark67]

I will turn 55 in March. Due to health , I suffered from,Crohn’s since age of 8. 3 years back, suffered septic arthritis, then this April past, spent 2 and a half months in hospital with pancreatitis. I am currently still on sick leave, and on half wages. I work as a nurse, but since the pandemic was doing track n trace, from home. As my concentration has suffered, I applied for medical retirement. Or should i apply for retirement once I hit 55. Still got mortgage. But feel my health is now my priority. I may work part time, at a later date. What’s my best option? I have nhs pension since December 1986.

[@chrisbourne-retirementplanner]

Hi Mark. Thanks for your comment. This is a situation that requires advice based on a full understanding of circumstances and requirements. You would be best going to an adviser who specialises in the NHS pension scheme. I’m okay on it, but there are advisers who have a better knowledge of it and all its various quirks than me. I know that Ed Bailey, another financial planner with a KZbin channel, has a good understanding of the NHS scheme because I think his wife is in it. Alternatively, you could search for a suitable adviser on a site like unbiased.co.uk.

[@craigmckinlay4308]

Great video thanks. On dynamic spending approach, I know inflation isn’t used but instead it’s all about investment returns. However, do you start every year at the £25k in your example or do you reset the benchmark amount based on previous year eg. The £26250 you would be at a year after a 5% rise? Thanks

[@chrisbourne-retirementplanner]

Hi Craig. You would apply the increase to the previous year’s baseline. Based on historical returns (which can’t be guaranteed) this would see an increase to the original base over time because markets increase yoy more often than not.

[@simony2801]

Does the dynamic model still increase with inflation each year, I’m sure he does, I just missed it. So it would go up by say 2.5% inflation and keep the high and low tramlines.

[@chrisbourne-retirementplanner]

No, the increases would be guided by investment growth Simon. Some years the income level would increase by more than inflation, and some years it would reduce (by no more than the floor you’ve set).

[@simony2801]

@@chrisbourne-retirementplanner many thanks for replying, I rewatched the video and realised my error, I wonder if this approach favours a certain investment strategy, such a 100% equity for maximum growth or is the traditional 60:40 equity bonds with lower growth the way to go.

[@raykhan8601]

Hi Chris, Thank you for yet another fantastic video. I like the idea of dynamic spending. I'm a few years away from retirement and would love to see the Vanguard research, if you could share the report? Thanks in advance.

[@chrisbourne-retirementplanner]

Hi Ray. Thanks very much! I've put it in the video description now for you under 'Vanguard article on Dynamic Spending' - I think this summarises their white paper most succinctly.

[@chrisfarri8914]

Great videos. But I’d love to know how a pensioner is spending or needing £46,000 a year. I earn half of that now and do very well for myself 😂

[@chrisbourne-retirementplanner]

Thanks Chris! Well the great thing about that is that your income target is more achievable - you've probably got the key to a stress free life! 😄

[@hungtai7671]

Not really guaranteed and markets quite volatile at present I think.

[@chrisbourne-retirementplanner]

If you’ve been an investor for a long time, you’ll know that volatility is a permanent fixture of markets. Nothing is guaranteed; the video says as much, but the stochastic modelling and back testing by Vanguard shows how adopting a dynamic spending approach markedly improves the probability of income sustainability.

[@nozzbozz5425]

Excuse me but do u use lightshot to screenshot?

[@nozzbozz5425]

I'm trying to predict where the stock is going up or down

[@daveeastham8446]

Hi Chris, sorry if I’m missing something but what’s the advantage of keeping cash in your fund if it doesn’t grow! Wouldn’t you be better withdrawing and putting cash into a savings account that would at least make some interest? I know you would have to be careful of the tax implications.

[@chrisbourne-retirementplanner]

Hi Dave. Well you’d only ever keep a limited amount in cash to protect you against the sequence of returns risk. You have to be careful about performance drag. With interest rates going up I expect that platforms will start to pay interest on their cash accounts again at some point. I remember that Standard Life (now Abrdn) used to pay 1.50% on their Wrap platform cash account. Hopefully we see that again!

[@LifeIsGood3444]

Hey Chris, is there anyway I can get in contact with you? I'm coming into the industry and a but of advice would go a long way. Thank you.

[@chrisbourne-retirementplanner]

Hi there. Yes my contact details are all in the About section of my channel or in the description of this video 👍🏼

[@AndrewDCDrummond]

I’m counting on my premium bond buffer paying out big 😃

[@chrisbourne-retirementplanner]

There’s always that chance of a big tax free win 😊

[@AndrewDCDrummond]

@@chrisbourne-retirementplanner if I win the million I’ll contact you for advice! 🤣

[@wallace-bv4rl]

I’ve looked at your explanation and two others on you tube of what I think is the same flexible / dynamic strategy. You make sense here. However one other makes no mention of inflation and the third one emphasises if the portfolio went up or down in each year. It’s difficult but I think the other explanations are different from yours. It’s not great overall for the audience v the industry! Love your work 👍

[@simonfoley2869]

Another great video Chris! When taking your money is there any difference or benefit in taking monthly drawdowns throughout the year or a single one off payment at the start of the tax year?

[@chrisbourne-retirementplanner]

Thank you. There’s not much difference if you’re just drawing down on cash to be honest. There could be a difference if you’re drawing out of asset backed investments because the price at time of taking out could either be favourable or unfavourable.

[@rogerandout808]

Nice video - I'm just wondering if Dynamic spending a Vanguard name for Guard Rails or is there something fundamentally different or just defined the process better?

[@chrisbourne-retirementplanner]

It’s the same principle Roger - Guardrails, Guyton-Klinger method… all the same sort of thing.

[@fusemunk]

Pension chat with no comment on tax......

[@simonfoley2869]

Another great video Chris! When taking your money is there any difference or benefit in taking monthly drawdowns throughout the year or a single one off payment at the start of the tax year?

[@chrisbourne-retirementplanner]

Sorry Simon I missed this one. There isn’t really any difference if you’re drawing from cash within your pension. If you are drawing from investments then there can be a difference due to the variation in prices that you sell units at.