In this monologue, Rob Moore denounces the Pensions and Lifetime Savings Association (PLSA) claim that a single retiree needs only £10,900 a year post‑tax to meet a minimum standard of living. He argues that the figure ignores real‑world cost pressures—housing, mortgage, fuel, food, inflation, taxes, private‑school fees, car ownership, travel, and lifestyle aspirations. Moore calculates that, given current tax rates (≈45 %) and realistic investment returns (5‑6 % gross), a retiree would need roughly £10 million in capital to generate a net income of £100‑150 k per year, which he deems the true minimum for a comfortable retirement. He critiques the PLSA methodology, highlights the inadequacy of mainstream media reporting, and calls for better financial education, budgeting, and personal financial planning. Throughout, he urges viewers to share the video, question mainstream narratives, and adopt a critical, entrepreneurial mindset toward money.
Chapters
Wow, breaking news! According to the PLSA, you only need £10,900 a year to retire. What planet are they living on? Now, these are the Pensions and Lifetime Savings Association. You would think that they would have the vast knowledge to understand retirement and pensions and savings and the reality And one of the things that's shocking to me is this is a mainstream media BBC News article that just came out this week. And of course the headlines, you need £10,900 a year to retire. What? What? Okay, so gas prices wholesale are up 400%, fuel prices are at highest price ever, record highs. Food's going up, inflation is going up, cost of general living is going up and up and up. There's virtually no interest in savings, yet apparently minimum required income is £10,900 a year. Now I'll share how they've calculated that in a moment, but I need to tell you that that's freaking nonsense. That is nonsense. I don't even think you can retire on £50,000 a year gross because at 45% tax, that leaves you £30,000 a year. Now, if you want to put your kids through private school, that's done. If you'd like to give your kids a good education, that's done. Can't do that. I mean, probably cost you gross £200,000, £250,000 a year to put 2 kids through a good private school. Oh, by the way, Um, this doesn't include a mortgage. Well, most people still have a mortgage. Oh, this doesn't include running a car. Oh, so what, you're gonna retire and have no car and have no way to travel? Holy shit. Right, let me tell you what it actually states, and then let me tell you what I think you can do and what the solutions really are. So apparently, according to the Pensions and Lifetime Savings Association, A single person will need post-tax annual income of £10,900 minimum to retire, or rather a minimum standard of living. Don't think that's true at all. No way. Look at house price increases. This increases to £16,700 for a couple. We hope the updated standards will encourage people to think about whether they are saving enough for the retirement lifestyle they want, and in particular whether they are making the most of the employer contributions on offer in their workplace pension. Well, what about increasing that minimum standard? All right, next. Housing costs are not included. Oh, okay. What you gonna do? Oh, well, it's assumed that most pensioners have paid off their mortgage. Hmm. The minimum retirement living standard covers a typical retiree's basic needs plus enough for some social activities such as a week of holiday. Oh, you can go away a week to Butlins! Eating out once a month. Yes, you can go and have Burger King once a month. But it doesn't include running a car, of course, because you don't need a car to survive. Wow. Alright. However, they do say if you want a comfortable life, such as regular beauty treatments, theatre trips, and annual maintenance, you will need £33,600 for one person and £49,700 for a couple. Bollocks! Bullshit! You need way more than that. Does this include inflation for when you get to retirement? No, it does not. Does this include increased standards of living year on year, which are going up and up and up? Well, of course not. Because it's in today's money. So I believe you need £10 million capital to retire. Sorry if that sounds a lot, but there is— you can't even retire on £1 million capital. £1 million capital realistically will give you 5% a year in income, which you'll have to pay tax on. So £50,000 gross, £30,000 net. I don't— if you want to put 1 or 2 kids through private school, you want to go on a couple of holidays a year, you want 1 or 2 half-decent cars, you want a half-decent house, You want to be able to travel a bit. You want to be able to buy a new— a few nice things, go out every now and again, get the updated iPhone, get the latest laptop. I think you need minimum 100, 150 grand a year net. So if you work out on 5% of capital, so 5% of a million is 550 grand a year. Well, it's actually a bit less, it's 40 grand a year. So you take your tax off, it's 25. So, uh, times that by 5 is 5 million. You take your tax off, that's 125 net. I just don't think with increasing fuel, increasing energy, increasing, um, you know, general sustenance and living expenses, I just can't believe this stuff's getting printed in the mainstream media. So if you agree with me, please hit the share button because I think it's really important. People talk about retirement and how much you need You know, being a millionaire is nothing now. 1 million cash is not a lot of money. You'll get no return on interest in the bank on that, so that's actually going down each year unless you invest it well. If you invest it well on leverage, you're probably lucky to get a 5% return, 5 to 6% maybe, and that's gross, and you're going to be at the 45% tax bracket, give or take. So there needs to be better information out there. They don't teach you how to manage money at school. They don't teach you about budgeting. They don't teach you about future planning, managing your, your money emotions, etc. So I believe if you want to retire, you need minimum $10 million in capital at 5 to 6%. Make it 5 for easy. $10 million capital is $500 grand a year, which is probably net $300 grand a year. And if there's two of you and two kids and two cars and a house and two holidays, that's probably what you need. £10,900 a year could give you a standard of living? No, it can't. And also, how much longer are you living now? So, you know, if you're 50, you might have another 40 years. So you have £10 million, let's say, in capital, which is £500,000 a year. But in 30 or 40 years, that's inflated down. That might be worth two-thirds, or even, uh, 2 or 3/5 of what it is now. So you have to increase that incrementally. So a million is nothing nowadays. Yeah, you're not going to live long on 10 grand a year. Also, what about putting healthy food in your body, which will, you know, elongate and extend your life? Does it include gym membership? Probably not. And exercise. So yeah, million, minimum 10 million a year capital, um, to be able to retire. But you've got to have that in today's money. So in 10 years it might be 1.21— sorry, 12 or 13 million. In 20 years it might be 15, 16, 18 million, etc. So something to think about. Please hit the share button. Uh, I am gobsmacked, uh, um, the Pensions and Lifetime Savings Association data which suggests that a single person needs £10,900 for a minimum standard of living. I don't think anyone can have a minimum standard of living on that, let alone a good standard of living. I think you need to up your goals, up your expectations, um, and a million is not a lot anymore. No one can retire on a million pounds unless you're 92 and you're going to die next Tuesday, in which case you'll be all right. Wow. So let me know in the comments what you think about this. Let me know what you think about my figure because people are always asking me, Rob, what's a retirement figure? Well, of course it depends on you and how big your mortgage is and how much your overheads are and what quality of life you want. But like I said, I'll base it on a capital sum and a percentage of income on that capital sum. Now, can you get better than a 5 to 6 return on, um, your money? Well, yeah, you possibly could, but you have to take greater risks, and you might not want to take greater risks. People in here saying, yeah, just put it on Bitcoin. Yeah, but that could go to zero. Do you really want to bank your retirement on that. So if you had $10 million, would you put it all into DeFi and Bitcoin and cryptos? No, you wouldn't. You would be a fool. You would put a certain amount of your wealth into, um, high risk, a certain amount into low risk. So you've got aggressive and defensive. So hit the share button, let me know what you think. Thanks for tuning in. Be careful what you Look, mainstream media has a motive. Just make sure that you understand that motive and make sure you contextualize the information that you, um, consume. I just interviewed David Icke on my podcast, The Disruptive Entrepreneur, and he's been deplatformed and canceled and banned from many social channels now. So I would say take a critical view of all the information that you put into your mind. You should do with me too, by the way. You know, my personal vision is to help as many people on this planet start and scale their business and get better financial knowledge. So, you know, my motive is very capitalist. It is very entrepreneurial. It is very creative. It is very innovative. That might not be relevant to someone nearing retirement or someone with a more consistent employee mindset. So, you know, just think for yourself, challenge your own beliefs and views, and understand that what is average is not you. And I just think this Pensions Lifetime Savings Association data is out of date already. I don't think that they're factoring in the increased cost of living. What about tax going up a lot? Now, I know they've said net, but most people think in gross. Um, so tax increases, increase in fuel, increase in travel costs, seeing as, um, you know, travel's been hit really hard, um, increase in commodities, increase in food and general sustenance. 10 million a year— sorry, 10 million capital you need minimum to retire on at 5 to 6%. Thanks for tuning in. Hit the share button. Have a great day, and remember this: If you don't risk anything, you risk everything. Oh, and thank you for the stars, Gary.
