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How much do you need in an ISA to target a £20,153 annual passive income on top of your State Pension?
['Harvey Jones', 'Min Read']
Yahoo Finance - Business Finance, Stock Market, Quotes, News
Anyone relying purely on the State Pension to fund their retirement needs their head examining.
Even if you get the maximum new State Pension, you'll be getting just £12,547 this year.
You'll need a fair bit more to enjoy a 'moderate' retirement, let alone a comfortable one.
I've chosen that figure because once added to the state pension, it would lift a single person's income to £32,700, producing a 'moderate' retirement.
Over the last decade, the average Stocks and Shares ISA has delivered a total return of 9.64% a year, with dividends reinvested.