Retiring at 60 v 66 Costs £22,000 a Year More Than You Think

Can you actually retire at 60 with £250,000 in your pension?The short answer is yes — but the 7 gap years before the State Pension arrives drain roughly £108,000 from your pot, and each year of early retirement costs about £22,000 in spending and lost growth combined. By 80, you could be £132,000 worse off than if you'd waited until 66.In this episode, I run full side-by-side projections at 60, 63, and 66, show you the tax-free sweet spot that means zero income tax during the gap years, and explain why retiring just 3 years later could nearly double what's left in your pot at 80.With over 25 years advising individuals and major organisations on pensions and retirement strategy, I've seen how the gap years catch people out — and how small timing changes make an enormous difference.Watch this episode in full on our YouTube channel: https://www.youtube.com/@retirementandmoney