Roger is 41, and he and his wife have two children aged 12 and 10. When he retires from the army he will receive an index-linked final salary pension which is forecast to pay about £35,000 a year. They own a house worth around £400,000 on which there is a repayment mortgage of £210,000. They let this and expect that it will be mortgage free by the time Roger retires.
Sipps, junior Isas, property and cash
Supplement retirement income, help children to buy homes
They also have a flat in London worth around £450,000 near a Crossrail station which they let. There is an interest-only mortgage of £240,000 on this but they are making payments to reduce the debt and hope to be able to increase these if rents rise when Crossrail opens in 2019. They hope to pay off the mortgage in 20 years so that the rent will supplement their pensions.