It’s the question we hear more than any other, and not just from people in their 60s.
We hear it from people in their 50s, their 40s, even some in their 30s, who are starting to wonder: “Am I on track? Can I slow down earlier than I thought?”
The answer depends on three things:
But the good news? It’s often closer than you think.
Most people assume retirement happens when you hit 65 or start drawing your State Pension. But retirement isn’t about your age.
It’s about your financial independence, the point where you no longer have to work, even if you choose to. That point comes when your savings and income can cover your lifestyle, sustainably, for the rest of your life.
Say you want to spend £35,000 a year after tax in retirement.
You’ll likely get the State Pension currently just over £11,500 a year from age 67 (assuming you’ve paid enough NI credits).
That leaves a gap of £23,500/year to fund from your pensions, ISAs or investments.
As a rule of thumb, multiply that gap by 25 to estimate the pot you’ll need. That gives you a target of £587,500. This is your number, your target.
This rough rule is based on the idea that you can safely draw around 4% per year from a balanced investment portfolio without running out of money.
You might have more than one pension. Some with guaranteed income. Some invested. You might have ISAs, property, or business assets. Maybe you want to retire early, or part-time first.
And what if you don’t need £35,000 a year?
What if £28,000 would give you a wonderful life, mortgage-free, with holidays and no alarm clock?
At Strive, we model all of this, visually, simply, so you can see exactly when retirement is possible for you.
Not a guess. A plan.
Now.
Because the earlier you understand your options, the more power you have to shape the outcome. You don’t need to know all the answers. That’s our job.
You just need to be ready to take control of your future — with clarity, confidence, and a plan.
