How Old Are You?
- Thread starter Jimmmmy
- Start date
49 this year and intending to retire at 57 when I can access my private pension. Had a close mate who passed unexpectedly at 60 just before Christmas … since which I’ve reevaluated everything and my biggest monthly outgoing is now my pension.. should have enough to keep me going to late 60s and state pension will kick in… so live for today but plan for tomorrow
56, younger wife by ten years, who loves her career. I have twin 12 year olds in private schools. I love my new job, wouldn’t want to retire, which is a good job really.
My new job at a London Uni, nice pension and 45 days holiday a year, lovely people.
My new job at a London Uni, nice pension and 45 days holiday a year, lovely people.
Mixed feelings on pensions here as my private pension pot is pretty much the same as if I had just been putting the money under the mattress so no rolling it all up into another rental house unless it's in Legoland.
I'm 64 and have covered a lot of my dissatisfaction with working life in the electrical thread here but realistically fantastic pension pots only rock up when life has kicked most of the shirt out of you already.
I didn't retire as such but just stopped working at 61 three years ago in a fit of paddy and started ponsing around with our fixer up/money pit semi here in Mordor.
I will start drawing my private pension, 3'/6d per week thankyou, this Christmas at age 65 and roll around in clover the following Christmas when the state lottery chips in with their contribution to my continued well being... that should put the mockers on things then!
I'm 64 and have covered a lot of my dissatisfaction with working life in the electrical thread here but realistically fantastic pension pots only rock up when life has kicked most of the shirt out of you already.
I didn't retire as such but just stopped working at 61 three years ago in a fit of paddy and started ponsing around with our fixer up/money pit semi here in Mordor.
I will start drawing my private pension, 3'/6d per week thankyou, this Christmas at age 65 and roll around in clover the following Christmas when the state lottery chips in with their contribution to my continued well being... that should put the mockers on things then!
I am gobsmacked the number of people in their 50’s who have retired or are planning to retire so early. The average UK life expectancy is 81 so it takes a lot of pension money to provide for 30 years. And the maximum state pension is currently under £10,000 so that doesn’t go very far on its own. I am 67 and retired from full time work at 61. Now semi-retired but the job is pretty easy so enjoying the extra income and would not want to give up
I guess it depends what each have done as jobs before retiring. I and a few others on here have public sector pensions which (depending on final salary) are very good. I paid between 11 and around 14% of my salary each month for 30 years into my fund. My wife was a headteacher and despite finishing early her pension isn't bad either. I have almost paid my maximum NI, so currently, looking at my personal forecast on HMRC my pension would be £185 PW based on my contributions and upto £205 PW if I make further voluntary contributions, so really as a couple we won't be doing that badly until we slip off the plate.
Beware…….company final salary pension….just got a nasty letter about …Clawback or State integration Element…. Seams that larger companies had a Tax thing going on and once you reach the 65 state retirement date can reduce your pension ( but not made allowances for the newer state retirement changes) ….never saw that in the small print…..lucky Not having all my eggs in one basket ..
Dont you just love the system……
Dont you just love the system……
More likely with non-contributory pension schemes.Beware…….company final salary pension….just got a nasty letter about …Clawback or State integration Element…. Seams that larger companies had a Tax thing going on and once you reach the 65 state retirement date can reduce your pension ( but not made allowances for the newer state retirement changes) ….never saw that in the small print…..lucky Not having all my eggs in one basket ..
Dont you just love the system……
I received my first state pension payment at the end of March, although I managed to obtain early retirement back in 2013 from a high street bank.
Fully enjoying voluntary work and weeks away in my van.
36!
I took redundancy at 61, 7 years ago. Took 25 % of my pension pot to play with and re invested the rest. Have renovated 3 properties and sold on, and converted a t5(now sold) and a t6 - currently touring Italy. The most important thing as you get older is staying healthy - I've lost too many friends and family in the last few years - enjoy while you can
Working through the period between your death and the funeral might be a little tricky.I'm planning on working until the morning of my funeral as I have a T6 to pay for, it's in the garage now having £1500 worth of work done on the EGR system...
Slightly off topic (and I'm the first one to admit that the workings modern engines are a complete and utter mystery to me) but would I be right in thinking that this is a very common problem with T6 engines to the extent that it seems to be inherent fault that VW should be rectifying free of charge (even if it's outside of warranty period)?it's in the garage now having £1500 worth of work done on the EGR system...
58 in July. Wish I was retiring soon. Green with envy at those in my age group that are. I moved here from South Africa in 2016 and the exchange rate extended my retirement by default, but its a good trade off for quality of life and I live in South Wales which is even better.
If you have planned well the last cheque you make bouncesI'm planning on working until the morning of my funeral as I have a T6 to pay for, it's in the garage now having £1500 worth of work done on the EGR system...
Knowing my luck I will make sure its a big service at a VW garageIf you have planned well the last cheque you make bounces
