Saving Tool Advanced
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Your taxes (2025/26)
Various assumptions apply
The primary assumptions are that you are a FTE and that standard tax rates for 2025/26 apply to you. For fewer limitations, try Saving Tool Advanced.
| Year | Month | Week | |
|---|---|---|---|
| Gross Income | £35,000 | £2,917 | £673 |
| Pension Contributions | £0 | £0 | £0 |
| Employer Pension Contributions | £0 | £0 | £0 |
| Taxable Income | £35,000 | £2,917 | £673 |
| Personal allowance | £12,570 | - | - |
| National Insurance | £1,793 | £149 | £34 |
| Income Tax | £4,486 | £374 | £86 |
| Take Home Pay | £28,721 | £2,393 | £552 |
| Opportunities Found | View My Opportunities ⟶ | ||
HMRC Tax rates and rules last updated 10/06/2025
Your Monthly Outgoings
Projected Pension
Wealth & Financial Independence More Info
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Financial independence means having enough saved that your expenses will be covered for the rest of your life.
- In today's money, you'll have at least £21,600 / year (£1,800 / month) when you retire at 66 - just from your savings
- In real terms (where inflation is not removed), that's £38,340 / year (£3,195 / month)
- That means all your outgoings are covered without having to make any further contributions!
- All your expenses are covered for your retirement, but your wealth may start to decrease towards old age
Projected Wealth
Calculations
- FI Target = Annual outgoings (£21,600) * Years needed for 4.00% SWR (25.00) = £540,000
- Invested annual pension = £0
- Invested annual surplus = £1,721
- Inflation of 2.5% / year
- Assumes New State Pension, payments increasing with inflation (2.5% / year)
- Assumes student loans last 30 years max
- Assumes a flex-drawdown pension for illustration purposes
- Assumes you draw down pension up to the higher rate bracket (£50,270), then draw down your S&S ISA
- Pension lump sums are not included