The ins and outs of a Pensioner Life??
Discussion
1)The State Pension is the same in the Stockbroker Belt as it is in some depraved areas...is that a little odd?
No.
2)You all have equity or fully own your house now??
Fully owned previously, then saw a house we fancied and bought it. Have a mortgage again which is easily affordable
3)My State Pension and Works Pensions amount to about £1250 a month ...with £350 Standing Orders monthly....do I have enough to feed and clothe myself ??
Yes, easily.
4)Do you get bored s'@@tless watching Tales of the Unexpected over and over.They were such happy times??
Really busy with all the work I would ever want, which pays for nice things. I'm 60, will give up work when the free money kicks in.
5)We all have funds to fall back on of course...but are they enough??.
Yes.
No.
2)You all have equity or fully own your house now??
Fully owned previously, then saw a house we fancied and bought it. Have a mortgage again which is easily affordable
3)My State Pension and Works Pensions amount to about £1250 a month ...with £350 Standing Orders monthly....do I have enough to feed and clothe myself ??
Yes, easily.
4)Do you get bored s'@@tless watching Tales of the Unexpected over and over.They were such happy times??
Really busy with all the work I would ever want, which pays for nice things. I'm 60, will give up work when the free money kicks in.
5)We all have funds to fall back on of course...but are they enough??.
Yes.
My brother hits 66 in 9 months. No private pension (had to cash it in to pay for his divorce) and has an £80k mortgage (same reason). He's screwed unless he downsizes, or gets planning permission to build on his 2 acre garden.
The one promise I made myself was at my SPA I would have my own property with no Mortgage....its not Buckigham Palace...but its very cosy.
I'm amazed how many of you have retired before your State Pension Age.
The one promise I made myself was at my SPA I would have my own property with no Mortgage....its not Buckigham Palace...but its very cosy.
I'm amazed how many of you have retired before your State Pension Age.
Controversial opinion here maybe but I think it’s quite selfish to carry on working after state pension age. Give the young un’s a chance of a job. Only my opinion and I know different people have different opinions.
As for retirement, I’m mid 30’s so a while off for me. But got a “smallish” mortgage, 22% goes into my pension and my stocks and shares isa is doing ok. So hopefully well on track. Of course I think am I doing enough. But you need to enjoy the present as well. Life is short.
As for retirement, I’m mid 30’s so a while off for me. But got a “smallish” mortgage, 22% goes into my pension and my stocks and shares isa is doing ok. So hopefully well on track. Of course I think am I doing enough. But you need to enjoy the present as well. Life is short.
keo said:
Controversial opinion here maybe but I think it’s quite selfish to carry on working after state pension age. Give the young un’s a chance of a job. Only my opinion and I know different people have different opinions.
As for retirement, I’m mid 30’s so a while off for me. But got a “smallish” mortgage, 22% goes into my pension and my stocks and shares isa is doing ok. So hopefully well on track. Of course I think am I doing enough. But you need to enjoy the present as well. Life is short.
There aren’t a fixed number of jobs.As for retirement, I’m mid 30’s so a while off for me. But got a “smallish” mortgage, 22% goes into my pension and my stocks and shares isa is doing ok. So hopefully well on track. Of course I think am I doing enough. But you need to enjoy the present as well. Life is short.
Ken_Code said:
keo said:
Controversial opinion here maybe but I think it’s quite selfish to carry on working after state pension age. Give the young un’s a chance of a job. Only my opinion and I know different people have different opinions.
As for retirement, I’m mid 30’s so a while off for me. But got a “smallish” mortgage, 22% goes into my pension and my stocks and shares isa is doing ok. So hopefully well on track. Of course I think am I doing enough. But you need to enjoy the present as well. Life is short.
There aren’t a fixed number of jobs.As for retirement, I’m mid 30’s so a while off for me. But got a “smallish” mortgage, 22% goes into my pension and my stocks and shares isa is doing ok. So hopefully well on track. Of course I think am I doing enough. But you need to enjoy the present as well. Life is short.
Gordon Hill said:
Depends on the job as well. Some jobs are highly skilled and can't be done by someone without the aptitude. After 35 years in manual jobs I became a pen pusher at 50 due to health reasons. I could carry on until I'm 70, health willing, but why would I want to. It's ok I suppose if you're doing something that you love but for me you only get one stab at this and even now I'm giving it serious thought as to packing it in all together or going down to 4 days. The only reason that I carry on is pure greed.
I agree. Some people say they love work. Fair enough each to own. But to me it lacks imagination and is a bit boring. I can think of plenty of things I’d rather be doing than working. As soon as I am able to I will finish work and make the most of life. I wonder if people ever think “I wish I had worked more” on there death bed….
Interesting thread.
I’m 54 and at the crossroads of life, no mortgage, some rental properties that give me £2500 a month, and a business and commercial building worth about 450k.
No pension but 150k of savings.
No kids, wife still works, I’m sad to say I have no interests outside of work.
Think I could afford to retire financially, but, what would I do with my time.
Fly in the ointment is I have an incomplete spinal injury, so life is currently spent on crutches, at some point I will be in a chair, so long walks, golf, bowls or what else retired folk do is out the window. I can hardly stand some days with the pain, work takes my mind off this.
Looks like I’m destined to die at my desk.
I’m 54 and at the crossroads of life, no mortgage, some rental properties that give me £2500 a month, and a business and commercial building worth about 450k.
No pension but 150k of savings.
No kids, wife still works, I’m sad to say I have no interests outside of work.
Think I could afford to retire financially, but, what would I do with my time.
Fly in the ointment is I have an incomplete spinal injury, so life is currently spent on crutches, at some point I will be in a chair, so long walks, golf, bowls or what else retired folk do is out the window. I can hardly stand some days with the pain, work takes my mind off this.
Looks like I’m destined to die at my desk.
keo said:
I agree. Some people say they love work. Fair enough each to own. But to me it lacks imagination and is a bit boring. I can think of plenty of things I’d rather be doing than working. As soon as I am able to I will finish work and make the most of life.
I wonder if people ever think “I wish I had worked more” on there death bed….
I’m no longer working full-time in banking and am spending the time I freed up working for free for a charity that’s working on decarbonisation of the atmosphere.I wonder if people ever think “I wish I had worked more” on there death bed….
Maybe though you’re right and I’ll wish I’d done a bit more DIY and went to a few more garden centres.
Ken_Code said:
I’m no longer working full-time in banking and am spending the time I freed up working for free for a charity that’s working on decarbonisation of the atmosphere.
Maybe though you’re right and I’ll wish I’d done a bit more DIY and went to a few more garden centres.
Never mentioned DIY and I wouldn’t go near a garden centre but if that’s what makes you happy. Who am I to make a sarcy comment.Maybe though you’re right and I’ll wish I’d done a bit more DIY and went to a few more garden centres.
1) no, if you have paid the NI you get the pension! What is odd is that the lower paid frequently don’t get full pension.
2) no, long story. Buying house with son and wife in said stockbroker belt and won’t be listed as owner at land registry but will have an interest.
3) I retired in October and don’t get state pension ‘til January 26 (wife gets hers in January 25) and with four DB schemes paying out about 2k/m we will be OK, then 6 months ago I was offered a contract role and am now struggling with a tax problem….. There should be a limit on the tax breaks applicable to pensions and £1m is about right - equates to about £50k a year.
4) In the five months I was retired I didn’t have time to watch TV, even less now.
5) Ask me again in 30 years!
Gordon Hill said:
1. Nothing odd about it, a lot of lower paid workers don't earn enough to pay NI contributions.
A lot? LEL - Lower Earnings Limit - is £123/wk. You don't pay NI at that level, but you still quality for pension etc.You start paying at £242/wk, just over half minimum wage for full timers.
Gordon Hill said:
1. Nothing odd about it, a lot of lower paid workers don't earn enough to pay NI contributions. If circumstances permit they will get a top up by pension credit taking them up to The current 221.00 a week state pension.
I worked in that area and was working for the Government when it switched from Minimum Income Guarantee to Pension Credit...I couldnt understand the rationale behind it.I cannot understand the rationale behind most of the things behind most things that happen in this country ?? Ken_Code said:
mikef said:
1. Are you suggesting that the state pension should be like in France, a %age of salary, so higher earners receive (much) higher state pension?
As a (pre-retirement) additional rate taxpayer, I don’t agree with that, although it would undoubtedly benefit me
It should be. As a (pre-retirement) additional rate taxpayer, I don’t agree with that, although it would undoubtedly benefit me
Dingu said:
It’s rapidly going it become unaffordable as it is without giving more to those who already have loads. What a regressive and ridiculous change that would be.
How is it regressive to have those who pay more in for pensions to receive more, as per our more socialist neighbours?Ken_Code said:
Dingu said:
It’s rapidly going it become unaffordable as it is without giving more to those who already have loads. What a regressive and ridiculous change that would be.
How is it regressive to have those who pay more in for pensions to receive more, as per our more socialist neighbours?The damn entitlement of some people is astonishing. What else does the world owe you?
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