nderfel Posted September 21, 2014 Report Share Posted September 21, 2014 It was my plan up until a few days ago, now I'm getting divorced... I hope it all works out for the best, I doubt it will feel like it at times but that's how you have to look at this stuff - I posted that response by the way before you started that other thread. nope! cost of living longer when the state pension was introduced in the early 19 hundreds very very few actually reached the age they would draw that pension, if a state pension was paid now based on the average life expectancy you would need to be 90 odd before you received it. KW I am having a dumb five minutes, I cant work out if you are disagreeing or agreeing with me Quote Link to comment Share on other sites More sharing options...
kdubya Posted September 21, 2014 Report Share Posted September 21, 2014 I hope it all works out for the best, I doubt it will feel like it at times but that's how you have to look at this stuff - I posted that response by the way before you started that other thread. I am having a dumb five minutes, I cant work out if you are disagreeing or agreeing with me I was saying the global recession has less affect on the sustainability of paying a pension via the state than the fact that you might be receiving that pension for 30 years as opposed to actually surviving to collect let alone receive it for a couple of years. KW Quote Link to comment Share on other sites More sharing options...
figgy Posted September 21, 2014 Report Share Posted September 21, 2014 KDUBYA get yourself that nice little retirement working on present I texted you. You deserve it Figgy Quote Link to comment Share on other sites More sharing options...
mickyh Posted September 21, 2014 Report Share Posted September 21, 2014 Ha! Fair enough Gordon. I'd like to retire pretty much immediately, but I'm barely 30. Don't even have a pension - seems to be too much risk that in 20 years time (or 37 years time possibly) the government of the day will decide to rob pension funds again, or remove the tax benefits or reduce the value in some way. Dont you worry mate. Just rely on your state pension and when you cant afford to eat or pay your gas bill just claim benifits that US LOT will have topped up for you! Barely 30 and want to retire already? What message does that send out to young folk ! What do you do with the money that should be going into your pension fund? Because saving isn't good at the moment. Ever wonder why Blackbirds are first up and last to bed? To eat and survive. Quote Link to comment Share on other sites More sharing options...
chrisjh Posted September 21, 2014 Report Share Posted September 21, 2014 Retire having way to much fun at work, I am 55 got years left yet, keep thinking about consultancy or a change of career into sales Quote Link to comment Share on other sites More sharing options...
islandgun Posted September 21, 2014 Report Share Posted September 21, 2014 I seem to missing something here, I started to built my house at fifty, at sixty odd Im commercial creel and line fishing, my business means my wife and I work 14 hours a day and my youngest child is still at primary school, Jeez I envy you blokes (sometimes) Quote Link to comment Share on other sites More sharing options...
hawkeye Posted September 21, 2014 Report Share Posted September 21, 2014 KDUBYA get yourself that nice little retirement working on present I texted you. You deserve it Figgy What makes you think he will hit anything with it he cannot with the one he's got Quote Link to comment Share on other sites More sharing options...
overandunder2012 Posted September 21, 2014 Report Share Posted September 21, 2014 i hope to be pretty much retired buy 55 if everything works out dont fancy this working until your 70 malarky Quote Link to comment Share on other sites More sharing options...
birdsallpl Posted September 22, 2014 Report Share Posted September 22, 2014 Retire having way to much fun at work, I am 55 got years left yet, keep thinking about consultancy or a change of career into sales It's great to enjoy your work, I genuinely enjoyed mine. Was with the same company for 37 years and had great times and saw some of the world as well. The only problem with work is that it prevents you carrying out your hobbies everyday. Believe me when you do make the move you won't miss the work environment. Well not in my case anyway. Quote Link to comment Share on other sites More sharing options...
sandspider Posted September 22, 2014 Report Share Posted September 22, 2014 Dont you worry mate. Just rely on your state pension and when you cant afford to eat or pay your gas bill just claim benifits that US LOT will have topped up for you! Barely 30 and want to retire already? What message does that send out to young folk ! What do you do with the money that should be going into your pension fund? Because saving isn't good at the moment. Ever wonder why Blackbirds are first up and last to bed? To eat and survive. Easy tiger - you don't know me or my situation. The retire immediately thing was tonge in cheek - I can't afford to. Partly my post was fishing for options that might be more reliable than a pension in terms of securing a fairly sound financial future. You're right - savings aren't very rewarding at the moment. Quote Link to comment Share on other sites More sharing options...
Mungler Posted September 22, 2014 Report Share Posted September 22, 2014 I've put into a pension for the last 18 years doing the sensible thing and am entirely dissatisfied with the results - it's been a terrific waste money. The worst bit is that paying into a pension took away money from me at a time when I needed it most - young, low wage, just starting out etc. The monthly amount I paid into my pension was not far off what the mortgage on my first property was - 2 bed flat, £94k new and with £10k down. That flat is now worth £295k and there sure ain't £200k in my pension pot (and that's leaving aside rental income that would have also accrued by keeping the fiat). Ok, so no one has a tardis and hindsight is perfect, but the performance of a lot of the financial service products I have dabbled in has been disappointing. I have worked out that no one looks after my money better than me. Quote Link to comment Share on other sites More sharing options...
LondonLuke Posted September 22, 2014 Report Share Posted September 22, 2014 I've put into a pension for the last 18 years doing the sensible thing and am entirely dissatisfied with the results - it's been a terrific waste money. The worst bit is that paying into a pension took away money from me at a time when I needed it most - young, low wage, just starting out etc. The monthly amount I paid into my pension was not far off what the mortgage on my first property was - 2 bed flat, £94k new and with £10k down. That flat is now worth £295k and there sure ain't £200k in my pension pot (and that's leaving aside rental income that would have also accrued by keeping the fiat). Ok, so no one has a tardis and hindsight is perfect, but the performance of a lot of the financial service products I have dabbled in has been disappointing. I have worked out that no one looks after my money better than me. This. I am 29 and just don't believe in the whole pension system. Instead I am buying BTL flats as and when I can afford them and looking at the as an income in the short term and a nest egg for when older. I do of course stand to be proved wrong when interest rates go up or we become generation rent and house prices stagnate but all options are a gamble. I am keen to diversify it a bit, but what to look at? Quote Link to comment Share on other sites More sharing options...
bruno22rf Posted September 22, 2014 Report Share Posted September 22, 2014 I retired at 51 so the wife and I spend our days doing loads of nothing in particular. If you can afford to retire but are going to find it difficult to occupy your time then I think that staying at work is the healthier option. BTW-if you are looking for investments then forget Premium Bonds-we have £60k worth and average £25/month return Quote Link to comment Share on other sites More sharing options...
Mungler Posted September 23, 2014 Report Share Posted September 23, 2014 This. I am 29 and just don't believe in the whole pension system. Instead I am buying BTL flats as and when I can afford them and looking at the as an income in the short term and a nest egg for when older. I do of course stand to be proved wrong when interest rates go up or we become generation rent and house prices stagnate but all options are a gamble. I am keen to diversify it a bit, but what to look at? A wealthy Indian accountant client of mine said 'nice property in the right area never goes out of fashion'. It goes wrong when you pay too much, buy chancey rubbish based on hope or outside of your area of operation ie a different County. Obviously for the purposes of retirement / investment you don't want to put all your eggs in one basket. Keeping up investment in your own business or another business makes sense but other than that I'm out of ideas. I would have said 'buy Tesco shares because everyone will always need beans and bog paper' but look at what's gone on / going on there. You just can't trust other people with money... Quote Link to comment Share on other sites More sharing options...
nderfel Posted September 23, 2014 Report Share Posted September 23, 2014 A wealthy Indian accountant client of mine said 'nice property in the right area never goes out of fashion'. exactly that, buy for the area not for the property. A small house in a good area will always be a better investment than a mansion in a **** one Quote Link to comment Share on other sites More sharing options...
aris Posted September 23, 2014 Report Share Posted September 23, 2014 exactly that, buy for the area not for the property. A small house in a good area will always be a better investment than a mansion in a **** one True - but if you buy right, gentrification can pay big dividends in the long term. Quote Link to comment Share on other sites More sharing options...
scutt Posted September 23, 2014 Report Share Posted September 23, 2014 retire early or not NO be sensible and keep earning and have more money to give to gov for your care when you are unable to stop dribbling from both ends . YES take a chance for once in your life and get what freedom and enjoyment you can from the years you have left. only applies to workers who go to work to live and not those who live to work Quote Link to comment Share on other sites More sharing options...
Dead-Eyed Duck Posted September 23, 2014 Report Share Posted September 23, 2014 retire early or not NO be sensible and keep earning and have more money to give to gov for your care when you are unable to stop dribbling from both ends . YES take a chance for once in your life and get what freedom and enjoyment you can from the years you have left. only applies to workers who go to work to live and not those who live to work Yep, sounds great when you only have yourself to think about. However, most of us are not in that position. We go for security and safety, and save accordingly for our olde age. Everyone's nightmare is to end up in a care home and see our hard-earned savings dwindle away at a rate of £500 - £1,000/week or whatever...... However, all you can do is to plan according to your circumstances and hoped for lifestyle in retirement etc. We all see TV programs of low life's living in squalor, smoking endless ciggies with bottles by their side and bemoaning their lot, and blaming the rich. However, I do believe that life is what you make it, and luck doesn't have much to do with it. Saving for your pensionable age is all part of any sensible person's plan- be it via pension schemes or property 'portfolio's'. Quote Link to comment Share on other sites More sharing options...
mickyh Posted September 23, 2014 Report Share Posted September 23, 2014 (edited) mickyh, on 21 Sept 2014 - 7:22 PM, said: Dont you worry mate.Just rely on your state pension and when you cant afford to eat or pay your gas bill just claim benifits that US LOT will have topped up for you!Barely 30 and want to retire already?What message does that send out to young folk !What do you do with the money that should be going into your pension fund? Because saving isn't good at the moment.Ever wonder why Blackbirds are first up and last to bed?To eat and survive. Easy tiger - you don't know me or my situation. The retire immediately thing was tonge in cheek - I can't afford to. Partly my post was fishing for options that might be more reliable than a pension in terms of securing a fairly sound financial future. You're right - savings aren't very rewarding at the moment. Sorry about that it does read worse than is meant !No offence intended. Edited September 23, 2014 by mickyh Quote Link to comment Share on other sites More sharing options...
sandspider Posted September 23, 2014 Report Share Posted September 23, 2014 No worries, chap! B) Quote Link to comment Share on other sites More sharing options...
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