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Preparing for a long life
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By (user no longer on site) OP
over a year ago
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For those with access to good medical care, and who follow a healthy lifestyle, your odds of reaching your 90s or beyond have never been better. Now all you have to do is afford that lengthy retirement.
The minimum we will get a week from the state pension will be £148.40 but most have to wait until 68 before collecting this
There has never been a better time to start an employers company pension scheme, hope everyone takes advantage of this
and if you can, fire in AVC's, £600 of your net wage will be £1000 straight into your pension and you will be able to use this amount accrued as your lump sum which means taking a 25% lump sum from this should not affect your final calculation payment.
All the younger ones on the forum should look into this now, time soon fly's by and before you know it you may be saying I wish I had started a pension
hope this is a reminder for some to get pensions started as we cannot rely on state
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By (user no longer on site)
over a year ago
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Lucky enough to have been able to retire early at 59. Have an index linked final salary pension. However, I only started this in my 30's, and was advised to take out additional pensions which I heavily contributed to from the age of about 45. Life is great now, but took a lot of investing during my working years. Advice for young people?......start investing in pensions NOW, and get on the housing ladder early!!!! |
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By (user no longer on site)
over a year ago
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What makes me angry is some people are not putting anything away for their own funeral costs
Which I find shocking
I would hate to burden my kids on paying for my funeral on top of all the arranging when they shouldn't have to
Iv heard folk say oh il be dead so I don't care which I find totally selfish!
Auds |
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By (user no longer on site)
over a year ago
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I have worked with the council since the age of 16. Changed positions on a few occasions due to having kids & stuff.
I've paid into my pension scheme since then.
Also ha policies for my kids when they reach 21 they get a lump sum.
I have a payment plan with the funeral directors so my kids never need to worry!!!
everything I have I've worked for so I'm proud of that.
My late parents taught me that!!
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By (user no longer on site)
over a year ago
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"For those with access to good medical care, and who follow a healthy lifestyle, your odds of reaching your 90s or beyond have never been better. Now all you have to do is afford that lengthy retirement.
The minimum we will get a week from the state pension will be £148.40 but most have to wait until 68 before collecting this
There has never been a better time to start an employers company pension scheme, hope everyone takes advantage of this
and if you can, fire in AVC's, £600 of your net wage will be £1000 straight into your pension and you will be able to use this amount accrued as your lump sum which means taking a 25% lump sum from this should not affect your final calculation payment.
All the younger ones on the forum should look into this now, time soon fly's by and before you know it you may be saying I wish I had started a pension
hope this is a reminder for some to get pensions started as we cannot rely on state
."
Turbo...you hiding on here as a pensions salesman or something lol
but on a serious note...spot on. 60 for me |
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By (user no longer on site)
over a year ago
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"What makes me angry is some people are not putting anything away for their own funeral costs
Which I find shocking
I would hate to burden my kids on paying for my funeral on top of all the arranging when they shouldn't have to
Iv heard folk say oh il be dead so I don't care which I find totally selfish!
Auds "
I wont want a funeral...no costs...maybe just a party lol |
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By (user no longer on site) OP
over a year ago
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"For those with access to good medical care, and who follow a healthy lifestyle, your odds of reaching your 90s or beyond have never been better. Now all you have to do is afford that lengthy retirement.
The minimum we will get a week from the state pension will be £148.40 but most have to wait until 68 before collecting this
There has never been a better time to start an employers company pension scheme, hope everyone takes advantage of this
and if you can, fire in AVC's, £600 of your net wage will be £1000 straight into your pension and you will be able to use this amount accrued as your lump sum which means taking a 25% lump sum from this should not affect your final calculation payment.
All the younger ones on the forum should look into this now, time soon fly's by and before you know it you may be saying I wish I had started a pension
hope this is a reminder for some to get pensions started as we cannot rely on state
.
Turbo...you hiding on here as a pensions salesman or something lol
but on a serious note...spot on. 60 for me"
lol, not at all paisley.gent; but its a thing every single person should be taking care off right now, far too many make the excuse of being "too busy" or they will do it tomorrow, before they know it, age will come up and kick them on the ass.
Some say, stuff it, I will spend all my money now and tough sh*t about tomorrow as I may never see it, future governments are not going to pay much in retirement pensions and it wont be long until Osborne raises retirement to 70 years old, hoping that work will kill you off before that age.
There wont be much sex or swinging in retirement if you are worrying about making ends meet, so everyone should get their arrangements made
and for the ones lucky enough to have a gold plated final salary pension, that may be one of life's luxuries
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By (user no longer on site)
over a year ago
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Reaching 90 is not for me
Suffer from depression now what happens when that becomes dementia in a few years
Don't want anyone wiping my arse or snot from my nose
At the first sign of dementia I'm going scuba diving. Going down to around 30m then stripping my kit off except the lead weight belt. No longer a burden and at least the sharks will feed well |
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"For those with access to good medical care, and who follow a healthy lifestyle, your odds of reaching your 90s or beyond have never been better. Now all you have to do is afford that lengthy retirement.
The minimum we will get a week from the state pension will be £148.40 but most have to wait until 68 before collecting this
There has never been a better time to start an employers company pension scheme, hope everyone takes advantage of this
and if you can, fire in AVC's, £600 of your net wage will be £1000 straight into your pension and you will be able to use this amount accrued as your lump sum which means taking a 25% lump sum from this should not affect your final calculation payment.
All the younger ones on the forum should look into this now, time soon fly's by and before you know it you may be saying I wish I had started a pension
hope this is a reminder for some to get pensions started as we cannot rely on state
.
Turbo...you hiding on here as a pensions salesman or something lol
but on a serious note...spot on. 60 for me
lol, not at all paisley.gent; but its a thing every single person should be taking care off right now, far too many make the excuse of being "too busy" or they will do it tomorrow, before they know it, age will come up and kick them on the ass.
Some say, stuff it, I will spend all my money now and tough sh*t about tomorrow as I may never see it, future governments are not going to pay much in retirement pensions and it wont be long until Osborne raises retirement to 70 years old, hoping that work will kill you off before that age.
There wont be much sex or swinging in retirement if you are worrying about making ends meet, so everyone should get their arrangements made
and for the ones lucky enough to have a gold plated final salary pension, that may be one of life's luxuries
."
. Nice post and excellent advice . I pay into two pension schemes and have lots of other investments so have no real concerns about retiring . Those who are in final salary pension schemes do not appreciate how lucky they are. |
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By (user no longer on site)
over a year ago
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I'm a qualified IFA. I used to sell pensions to very high net worth people in London. Having been out of it I now find I only have a couple of dormant employer contrbution pension plans. I've not got any intention of starting a new one just now. To be honest the industry put me off. And despite working full time as a single mum my child care costs take priority over retirement planning. I'm sure there are many in the same situation as me . its not that we don't want to save or we plan to rely on the state or that we aren't concerned. It's just that it's simply a luxury we can't afford.
One day I may find a sugar daddy or win the lottery or even just earn enough to save properly. When I do though a pension won't be my main plan xx |
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By (user no longer on site) OP
over a year ago
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"I'm a qualified IFA. I now find I only have a couple of dormant employer contrbution pension plans.
When I do though a pension won't be my main plan xx "
If you are "current" in your IFA qualifications, you will know your couple of employer pension plans are not "dormant" they are still growing but no funds from yourself or your employer are being paid in. You should be able to take advantage of them at 55 or if a small amount of £25k or less it may be worth taking the whole pot.
I kind of disagree with you when you say a pension is not a good or main plan, but I do agree some people put into property or other funds instead.
But I can honestly see no better deal at the moment where you get an immediate 40% uptake on what you put in, like I said in my first example; if you pay £600 a month that is a full £1000 straight into your pension pot and if you have a good financial adviser then you can get a good annual growth of 20+% of your total pension pot.
Okay, its a risk as is life itself, but age soon comes to us all and you don't want to reach the age of 55 and think shit I cant retire to 68, and by the time you get to 68 Osborne with have advanced the age to 70
that's 15 years you could be sitting back enjoying life with a good pension not having to worry about work
anyone in 20's and 30's should start now
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By (user no longer on site)
over a year ago
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Yes I'm aware dormant was the wrong terminology as of course with management the funds can still grow and could be transfered or will provide some level of retirement benefit.
I didn't say pensions weren't a good main plan I spoke from my own point of view. For me it won't be.
You have to be very careful in a public forum about what you say. So much can be seen as advice whan trying to talk in general terms. In fact the biggest part of TCF is know your customer. often that means what may seem like a good plan may not be right. The problem with stakeholder and auto enrollment is it goes against that principle and is trying to make retirement planning a one size fits all. That's risky.
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By (user no longer on site)
over a year ago
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"Yes I'm aware dormant was the wrong terminology as of course with management the funds can still grow and could be transfered or will provide some level of retirement benefit.
I didn't say pensions weren't a good main plan I spoke from my own point of view. For me it won't be.
You have to be very careful in a public forum about what you say. So much can be seen as advice whan trying to talk in general terms. In fact the biggest part of TCF is know your customer. often that means what may seem like a good plan may not be right. The problem with stakeholder and auto enrollment is it goes against that principle and is trying to make retirement planning a one size fits all. That's risky.
"
Guys and Girls....this is starting to get to heavy...pensions thou important are not the most lively thing! 
this is a site for fun and being happy....lets not talk shop 
Right takes teachers hat off now back to fun.x |
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By (user no longer on site)
over a year ago
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"Yes I'm aware dormant was the wrong terminology as of course with management the funds can still grow and could be transfered or will provide some level of retirement benefit.
I didn't say pensions weren't a good main plan I spoke from my own point of view. For me it won't be.
You have to be very careful in a public forum about what you say. So much can be seen as advice whan trying to talk in general terms. In fact the biggest part of TCF is know your customer. often that means what may seem like a good plan may not be right. The problem with stakeholder and auto enrollment is it goes against that principle and is trying to make retirement planning a one size fits all. That's risky.
Guys and Girls....this is starting to get to heavy...pensions thou important are not the most lively thing!
this is a site for fun and being happy....lets not talk shop
Right takes teachers hat off now back to fun.x"
 |
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"Yes I'm aware dormant was the wrong terminology as of course with management the funds can still grow and could be transfered or will provide some level of retirement benefit.
I didn't say pensions weren't a good main plan I spoke from my own point of view. For me it won't be.
You have to be very careful in a public forum about what you say. So much can be seen as advice whan trying to talk in general terms. In fact the biggest part of TCF is know your customer. often that means what may seem like a good plan may not be right. The problem with stakeholder and auto enrollment is it goes against that principle and is trying to make retirement planning a one size fits all. That's risky.
Guys and Girls....this is starting to get to heavy...pensions thou important are not the most lively thing!
this is a site for fun and being happy....lets not talk shop
Right takes teachers hat off now back to fun.x"
Good point . I know I can enjoy myself and work hard as I have planned the future and spread my risk over various different investments . Most of the more interesting posts on this site have nothing to do with sex. |
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