Wow - this guy must be really, REALLY bad with money if an extra £208 per month will “ruin” his retirement.

Let’s take a look at his situation based on what he told the @Telegraph

Because this does NOT add up!

No, this is not a “poor pensioner” scrabbling around for pennies…

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Here’s Paul

He’s 56

So he’s still a good 10 years away from retirement

He lives in Cobham, the Second most desirable town to live in the whole of Britain!

He apparently hasn’t been saving into a pension because of a scandal that happened - before he started his working life…🤔

2/

So he’s been investing in property, doing them up and then selling them

Fair enough

And that’s what he used to buy his own house in 2016 - that’s what he considers to be his “pension”

His own house that he lives in🤷🏼‍♀️

3/

He claims his house WAS worth £3mil but is now only £2.5mil and it’s lost 15% in the last 18 months “under Labour”

Right Move says sold house prices in Cobham are down 5% in the last year and 6% down from their peak in 2022.

Why would his house be down 15%?!

4/

If we take him at his word and his house is now “only” worth £2,500,000 (he wouldn’t be putting his house in the lowest bracket for this new mansion tax would he?!😜)

That means his house would still be (around) the 15th most expensive house in Cobham, the 2nd most desirable place in Britain

5/

He says the mansion tax, and 2% dividend and savings tax increases will cost him £5-6K a year.

The mansion tax will cost £2,500 per year.

So the 2% increase in savings tax and dividend tax will cost him at least £2,500.

6/

Which means he has savings and investments that GENERATE £125,000 income PER YEAR

Meaning his savings and investments must be in the £2-4 million region (depending on the return)

7/

Paul, in his Aston Martin gilet, 10 years from retirement, living in one of the most expensive houses in one of the best places in Britain, with savings and investments worth £2-4mil (excluding anything he has in tax-free ISAs), who has earned enough in his lifetime to pay “millions in taxes”…

8/

But his retirement plans are now in “disarray” and “ruined” cos he’s going to have to find an additional £208.33 per month?

He has £2-4 million in savings/investments but claims he is not “cash-rich” and his house was his only “pension”

Seriously @Telegraph, where do you find these people?🤣🤣🙄

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