we started a private pension in our early thirties and had individual company pensions and downsized in our late fifties. I'd advise anybody to start saving now however close to retirement you are, every little genuinely does help |
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By (user no longer on site)
over a year ago
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"Yes. That's why I'm going through a divorce. It's more cost effective than being married to my ex. This way she only gets to take half of everything I once owned. Luke"
Isn't it half of what you both own? |
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By (user no longer on site)
over a year ago
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"Are you planning your financial security for your old age, savings investments pensions etc ?"
Are you OP? 
There's a lot of pension adverts on at the moment. I wonder if they're planning on increasing the state pension age again.  |
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"I’ll basically be working until the morning of my funeral 
Screw yourself in from the inside? 
The beauty of a cardboard box is it just folds in  "
These three comments had me killing myself laughing! Each one funnier than the last |
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By (user no longer on site)
over a year ago
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I have three pensions . One that is being actively contributed to, but I still worry it’s not enough.
Annuity rates are absolutely shite . For every £10,000 in your pot you will get around £600 per annum . So if you want say, £12k pa you will need to have £200k saved up .
Draw downs Can be a better way to manage it , so you effectively take money out of an Invested pot and take advantage of the 25% tax free allowance .
The remainder will still be invested so there is a risk there that an annuity doesn’t carry .
Basically if you have a final salary pension or have been very good with money, or have a portfolio of investments or big savings ( or a healthy inheritance) you’re golden .
If not then , then look back and enjoy the fact you spent money whilst you were young enough to enjoy it
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By *ENGUYMan
over a year ago
Hull |
I retire in May 2021 by which time I will be debt free, the Mortgage will be fully paid off, and I'll have a private pension to assist me.
Plus my Funeral Plan will have full cover.
After years of struggling, I will welcome putting my feet up. But, TBH, I will still do something, work wise, maybe resume Voluntary Work? |
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By *ENGUYMan
over a year ago
Hull |
"Are you planning your financial security for your old age, savings investments pensions etc ?
Are you OP?
There's a lot of pension adverts on at the moment. I wonder if they're planning on increasing the state pension age again. "
The Govt raised the pension age a few years back. However, the experts "in the know" reckon it'll be 2023 before the retirement age threshold is raised again. |
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