A customer said to me yesterday I don't look 65 as I'm up and down the ladders etc. That's it though, you only ache when you stop ! What does your dad do ?My dad retired yesterday at 75, I didn't think he ever would, but he decided he'd had enough. He's been working 3 days for the last couple of years to get used to being at home without anything that he has to do. Maybe consider reducing the day's first, rather than going from full time to nothing (assuming you haven't already). I don't have any plans myself, of course the main problem when you don't know when you're going to die, is that you don't know how much money you'll need to last on.
It was engineering, so a lot of time standing at the machines, and also working in the office, only a small place so it's not like he'll miss all the people. I guess you're used to chatting to a lot of people, which I imagine is harder to replace once you stop working.A customer said to me yesterday I don't look 65 as I'm up and down the ladders etc. That's it though, you only ache when you stop ! What does your dad do ?
If you can get in a work pension where they contribute a decent % then do that, but otherwise I've always thought pensions are a bit of a con, you can pay in all your working life then if you die early they get to keep most of it, but it's a gamble really. Investing in property used to be a decent approach, but the tax benefits are being cut a lot.I dread to think how old I will be when I can retire, probably about 70 at least.
Probably should look at pensions and all that
We'll be lucky to get to retirement age!I dread to think how old I will be when I can retire, probably about 70 at least.
Probably should look at pensions and all that
If you can get in a work pension where they contribute a decent % then do that, but otherwise I've always thought pensions are a bit of a con, you can pay in all your working life then if you die early they get to keep most of it, but it's a gamble really. Investing in property used to be a decent approach, but the tax benefits are being cut a lot.
Pensions have changed a lot. You don't have to buy an annuity anymore. So it isn't lost. And you put the money away before paying tax. And you will also get contributions off your employer. Forget the scare stories. The earlier you start the more affordable it is.If you can get in a work pension where they contribute a decent % then do that, but otherwise I've always thought pensions are a bit of a con, you can pay in all your working life then if you die early they get to keep most of it, but it's a gamble really. Investing in property used to be a decent approach, but the tax benefits are being cut a lot.
A mate of mine retired at 58. He hated his job and workmates,so couldn't wait to go. I've got some great customers and I enjoy the outdoors. So it will be hard at first, but life is full of change.It was engineering, so a lot of time standing at the machines, and also working in the office, only a small place so it's not like he'll miss all the people. I guess you're used to chatting to a lot of people, which I imagine is harder to replace once you stop working.
I agree with you that pensions have changed a lot, and there are better choices for people now. I'm in no way recommending that they should be ignored, it's just that they are not always great on their own, and if you can afford to have a mix of options then that is better, just my view though. As you say, it's too complex for quick posts, and really any advice needs tailoring for people's individual circumstances. Doing nothing really is a poor idea though.Pensions have changed a lot. You don't have to buy an annuity anymore. So it isn't lost. And you put the money away before paying tax. And you will also get contributions off your employer. Forget the scare stories. The earlier you start the more affordable it is.
Too complex for a quick post but it can even be given to your children tax free when you die. It depends on circumstances and more.
I have 8 years 9 months maximum left. It is when my youngest is 18. I have frozen my final salary and now piling my money into a.pot that I am investing tax free. Expecting it to be worth 100k by the time I retire. It is to pay my state pension until I get my state pension. It will be a drawdown.
I have always planned to tour for the rest of my days. Was going to turn right at Calais and follow the coast. Stay a night if we didn't like the place and up to a month or two if we love the place. But now we are waiting for the word of Brexit not happening next month. Then I am moving my family to France and staying here. Will visit family for nearly 3 weeks every 2 months. Might just work unti 55 and then join family permanently. Depends on if we can afford for us both never to have to work again.
Did he work with you? That would have been awkward when he mentioned it.A mate of mine retired at 58. He hated his job and workmates,so couldn't wait to go. I've got some great customers and I enjoy the outdoors. So it will be hard at first, but life is full of change.
No. He worked for the council. Everybody who's worked with me on the round enjoyed it. I had a big round with a mate for years, but he died suddenly and now work on my own.Did he work with you? That would have been awkward when he mentioned it.
Very true!We'll be lucky to get to retirement age!
Between Spain and the U.K.. I have shit joints and I’m not fifty yet.
If you don't have a pension or lots if money you will either never able to retire or you will have a poor retirement.I agree with you that pensions have changed a lot, and there are better choices for people now. I'm in no way recommending that they should be ignored, it's just that they are not always great on their own, and if you can afford to have a mix of options then that is better, just my view though. As you say, it's too complex for quick posts, and really any advice needs tailoring for people's individual circumstances. Doing nothing really is a poor idea though.
I still want to spend a few years touring around Italy when retired. I still have the aim of turning right at Calais and following the coast for as long as one of us is fit enough to drive. Downsize as we get older. The plan is a night if we don't like where we are and an extended stay if we love the place. It will most probably take years to get as far as Italy though.My dream would be to own some land in Sicily and grow fruit and vegetables and have some animals and live a simple life.
A few years ago I lost 5 relatives in less than a year. Only one was old. One had just retired at 62. It made my mind up for me. We are seriously considering the wife and younger kids moving to France and the wife retiring this year. She is 52. I will stay here and continue to work. In just over 4 years I can retire but want to keep going for another 8 years 8 months. That is when I know our future will be financially secure. And my youngest will be 18. I will join them every 2 months for nearly 3 weeks. My shifts also allow me to go for a few days every week if I wanted to. I would keep it up until I have had enough of it. But I also have the idea of a few gites as income if I find it difficult. But I think I would have the best of both worlds.My wife’s been a nurse for 20 years she’s retiring in at 50 so 7 years to go and she’s already making plans , her theory is that her parents worked till they were both 65 and have had nothing but ill health since so she wants to be young enough to enjoy her self, mortgage will be paid off when we are both 50 . I decided to get stay in my job but reduce hours / go term time when that happens Then at 55 knock it all in the head
Life’s for living
If you can get in a work pension where they contribute a decent % then do that, but otherwise I've always thought pensions are a bit of a con, you can pay in all your working life then if you die early they get to keep most of it, but it's a gamble really. Investing in property used to be a decent approach, but the tax benefits are being cut a lot.
If you can get in a work pension where they contribute a decent % then do that, but otherwise I've always thought pensions are a bit of a con, you can pay in all your working life then if you die early they get to keep most of it, but it's a gamble really. Investing in property used to be a decent approach, but the tax benefits are being cut a lot.
Yeah, I did say it can happen, rather than it always does, and there are some good pensions out there. The days of final salary ones are numbered, certainly for new starters, and a lot of older ones are being frozen. If people can get a good one through work I think they should put in as much as they can afford. I think a mixture of pension, cash, and property would suit most people, but people have different circumstances, and different priorities. Start things early is good advice I think.That's not completely true. If your pension is in a SIPP and you die before you're 75, your wife/partner gets the whole pot, tax free.
I'm 55 next year and have just moved a final salary pension into a SIPP. I intend to drop a day a week next year and retire completely when I'm 60.
I've been contributing to a pension since I was 18 and have built up a nice pot.
"The confessions of a window-cleaner" has a nice ring to it.I reckon I've another year on the window round before I call it a day.
Then I'll spend my days writing, especially football and finally get a book published. <snip>?
Just be careful what you do with your pot. Go low risk only. Once it is gone it is gone. The stock market is not the place to be. A 25% drop would take a 400k pot to 300k. Then take out 20k a year a few times and you only have 240k.That's not completely true. If your pension is in a SIPP and you die before you're 75, your wife/partner gets the whole pot, tax free.
I'm 55 next year and have just moved a final salary pension into a SIPP. I intend to drop a day a week next year and retire completely when I'm 60.
I've been contributing to a pension since I was 18 and have built up a nice pot.
Not forgetting to pay your taxes to the local Cosa Nostra.My dream would be to own some land in Sicily and grow fruit and vegetables and have some animals and live a simple life.
Not forgetting to pay your taxes to the local Cosa Nostra.
You made the right choice.Would like to get a membership at Edgbaston and go over on the train each day to watch the cricket.
More realistically I will work until the day I die.
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