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Headline

Two out of five GPs now retire before 60, analysis suggests

Comment

Life is hard,then you're dead; We pay a third of our income into our pension,a substantial contribution,the pension is good though of course not in the same league as a politicians on average we die at 79,clearly far better than the anaesthetists. Whenever you die,you have to live for 20 years to break even on your pension contributions,59 therefore seems a logical place to start. At 62 you are essentially giving back a proportion of your pension to the government voluntarily. Add to this the extra you might earn from any investment of the lump sum for an extra 3 years If you plan to read books and knit,working on is a consideration However if the plan is for any form of activity e.g. golf, cycling, etc, then the extra years constitute a significant proportion of your remaining active life. Having taken the pension everything you earn is effectively taxed at 40% It is more economic to paint your own housetrain work pay 40% and pay someone else to do it with what's left. Painting a wall is considerably less stressful than seeing patients.

Posted date

20 Dec 2017

Posted time

4:04pm

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