Taking Our of your Pension

[leigh white]

1 minute ago, miamiwhite said:

Very sorry to hear that Mick, hope all goes as well as can be expected mate 🙏 

Cheers.

[miamiwhite]

1 minute ago, leigh white said:

Cheers.

❤ 🙏 

[Duck Egg]

Some big sums being talked about on this thread.  Nice to see that there will be a few wealthy elderly Wanderers fans in the years to come.

Apart from 24 years in a local Govt pension that's now frozen, the mrs and I have a succession of schemes we've been in for a year or two, here and there. Its bound to add up to feck all and it wont be long before the Govt are increasing the pension age to 68, 69 or 70 before long.

Go mad until you're in your early 60s, holidays, daft cars, away days etc then jack it in while you've hopefully still got your health.  If lockdown has taught me anything, its that I can live quite frugally if pushed.

[Burndens Bogs]

9 minutes ago, Duck Egg said:

 Its bound to add up to feck all and it wont be long before the Govt are increasing the pension age to 68, 69 or 70 before long.

I think that’s a given, along with raised income tax, vat rates, road tax, council tax  etc etc. Someone is going to have to pay for all the Billions jizzed on the pandemic.

Edited November 16, 2020 by Burndens Bogs

[Biggish Dave]

It’s already known it will be 68 for anyone who isn’t yet 50. That is bound to increase too

[radcliffe white]

If they move it to 70 that’s another 30 years of working for me wow!

[birch-chorley]

To be fair, 50 years ago when it used to be retire at 60, you could expect to live until 65 (on average) 

Now its retire at 67 / 68 and expect to live to 81 

[Guest]

7 minutes ago, birch-chorley said:

To be fair, 50 years ago when it used to be retire at 60, you could expect to live until 65 (on average) 

Now its retire at 67 / 68 and expect to live to 81 

Or 82 if you get the virus!

[Ani]

12 hours ago, Duck Egg said:

Some big sums being talked about on this thread.  Nice to see that there will be a few wealthy elderly Wanderers fans in the years to come.

Apart from 24 years in a local Govt pension that's now frozen, the mrs and I have a succession of schemes we've been in for a year or two, here and there. Its bound to add up to feck all and it wont be long before the Govt are increasing the pension age to 68, 69 or 70 before long.

Go mad until you're in your early 60s, holidays, daft cars, away days etc then jack it in while you've hopefully still got your health.  If lockdown has taught me anything, its that I can live quite frugally if pushed.

I think it is easy to focus on just the Pension element but there are other things to take into account. 
Being mortgage free is a big one. I have a good pension pot but mortgage runs till I am 70. That is £1000 per month. I could pay the mortgage off but our interest rate is less than 1% so would expect the investment to grow more than that. 
The other big money going out is on a car, need to decide what we need there. 
The kids also need to fuck off. There £30 per week rent does not cover a fraction of the cost of feeding them. 
I have been incredibly lucky that I stayed with my first employer for 16 years and turns out the Pension scheme was very generous. 
Anyone who has been employed with a company pension should be basically ok. Self employed who have not put anything away will struggle. 
Went out with a mate just before last lockdown he told me he had a £35k pension. Took me a while to realise that was his pot. 
Anyone who can afford it should top their pension up as much as they can. It usually tax free and a lot of employers also increase their contributions. I never did just got lucky.