Continuing with retirement planning

In Sweden we can use different web sites to check for future retirement, the best one I think is minpension.se where you can see and simulate what your pension will be with different conditions.

Checking potential income as retired

First lets check what would be the pension if I would continue to work to 65, I really want to finish at 60 so that is not what I want to do.

Simulated pension when working to age 65

The pension has three parts, the green part is private pension, its not very much. The blue part is occupational pension (which you normally get working in an office for example where the company sets aside part of your salary for pension and the red part is the state pension where part of you salary is saved. The money showed is before taxes.

Here my monthly pension would be from when I am 65 to 70 48240 and from 70 and forward 39940.

As I want to quit at 60 lets look at that simulation instead.

Retire at 60 and taking pension from 64

This would mean I retire at 60, getting first pension at 64 and need to cover these 4 years by myself (saved money or selling shares etc).

In this example I would get from age 64 to 69 42650 and from 69 and forward 34450

Here the main problem is to cover the bridge years between 60 and 64.

In Sweden you are allowed to take the occupational pension from age 55 the earliest while the state pension can earliest be taken from age 64.

If I take the occupational pension from age 60 (when I intend to stop working and limit it to 10 years it will look like this instead.

Occupational pension 10 years from age 60

This means I would get some pension from when I stop at age 60 to 64 29050, from age 64-70 50050 and from age 70 21000

A reminder from the treasure department is that currently we have a yearly average of dividends around 17000 per month.

Adding the dividends to the pension will give the total that we can live on.

My wife will also get a pension, but very low as she has not worked much (staying home with children). I need to investigate how much that will be, presumably she would retire at same time as me (she is two years younger).