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  • I know there are multiple pension calculators out there that can calulate approx what you will accumulate as pension if contributed £XXXX monthly/annually etc

    What I am struggling at is to figure out how much money I would need when I retire; still a n00b around this stuff but:

    1. What is 'retirement'? When I decide to stop working freelance or PAYE and the next day I can access the funds given that I am above state retirement age?
    2. Our current outgoings are going to go down as we grow older (at least thats the optimistic scenario), I can foresee childcare costs going down with quite a bit of detail in my head but what about rest? Will my mortgage finish in its term or before?
    3. What sort of expenses go up as you grow older? Healthcare?

    Basically I am happy to save for retirement but would be nice to 'understand' the goal.

  • they wont?

    I was thinking every remortgage brings down the monthly mortgage outgoings with LTV changing (our next one is 2023 and we will most likely go from 80% LTV to 60%)

    Not having any more children and not going to pursue private education for the kid either so once nursery phase is over I'd imagine its slightly less for next few years and keeps going down?! Dunno I have no idea.

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