Help with some numbers please?
Can I get some help figuring out what exactly my target savings needs to be please.
I need to save a pot to provide my partner with an income of 20k per year, potentially for 40 years or more.
How much do I need saved to do that? How would you go about that starting from where I am?
My starting point is that we have 140k cash we can invest (80k in ISAs, 30k in a SIPP I have access to due to ill health, and 30k cash to be moved into ISAs), and approx £2000 per month we can add to investments.
What would you do and what do I need to know?
I’m hesitant to just yolo 110k into the market at historic high P/E ratios and will be trickling the money in. If I miss out some gains, so be it. The price for peace of mind.
Once the target is achieved, what do I do; leave it invested, concert to cash, etc? Anything else I need to know?