Is this too much to salary sacrifice?
M, 47 single, with a salary of £81k per year. Currently have around £115k saved in pensions.
I usually just accept the standard pensions contribution and don't bother putting any more in, but was thinking to start making more efficient pension contributions. I'm thinking of putting 30,730 per year towards my pension and wanted to get feedback as to whether this is too much or not?
I have about £120k left on my mortgage and my out going costs total around £1100 per month (includes mortgage payments, council tax, energy, travel and food). I don't have any kids so I should be ok sacrificing down to the £50,270 limit. Based on my calculations I should still have £2000 per month for spending/saving, which should be ok for me. I also have around £30k in savings (emergency, cash and S&S isas)
Is this too much to sacrifice or does it make sense?
Appreciate your feedback/thoughts.