The ins and outs of a Pensioner Life??
Discussion
Rufus Stone said:
I'm a part time pensioner now. Drawing on my own pension but not old enough for the State Pension yet, and still working (own business). I wanted to free up some turnover in the business for other things.
My only slight life regret is not buying a home. I was happy with it at the time but now of course I will have to pay rent until I die.
I only have one real concern about the future though, and that's the driving medicals from age 70.
No medicals for driving at 70 or over. Just a form to fill in every 3 years where you tick you are medically fit to drive. My only slight life regret is not buying a home. I was happy with it at the time but now of course I will have to pay rent until I die.
I only have one real concern about the future though, and that's the driving medicals from age 70.
Glosphil said:
Rufus Stone said:
I'm a part time pensioner now. Drawing on my own pension but not old enough for the State Pension yet, and still working (own business). I wanted to free up some turnover in the business for other things.
My only slight life regret is not buying a home. I was happy with it at the time but now of course I will have to pay rent until I die.
I only have one real concern about the future though, and that's the driving medicals from age 70.
No medicals for driving at 70 or over. Just a form to fill in every 3 years where you tick you are medically fit to drive. My only slight life regret is not buying a home. I was happy with it at the time but now of course I will have to pay rent until I die.
I only have one real concern about the future though, and that's the driving medicals from age 70.
I retire in 3yrs time when I'll be age 55, and importantly my mortgage will be paid off at the same time.
Whilst my employers monthly take home pension will obviously be less than my current take home wage, my mortgage will be paid off so I'll be about £200/month worse off than I am now whilst working.
I hope to never work again unless I find I start to miss being around people, but there's always the option of downsizing in house to free up some money if needed.
Whilst my employers monthly take home pension will obviously be less than my current take home wage, my mortgage will be paid off so I'll be about £200/month worse off than I am now whilst working.
I hope to never work again unless I find I start to miss being around people, but there's always the option of downsizing in house to free up some money if needed.
Edited by The Gauge on Sunday 28th April 17:25
Rufus Stone said:
Glosphil said:
Rufus Stone said:
I'm a part time pensioner now. Drawing on my own pension but not old enough for the State Pension yet, and still working (own business). I wanted to free up some turnover in the business for other things.
My only slight life regret is not buying a home. I was happy with it at the time but now of course I will have to pay rent until I die.
I only have one real concern about the future though, and that's the driving medicals from age 70.
No medicals for driving at 70 or over. Just a form to fill in every 3 years where you tick you are medically fit to drive. My only slight life regret is not buying a home. I was happy with it at the time but now of course I will have to pay rent until I die.
I only have one real concern about the future though, and that's the driving medicals from age 70.
TwigtheWonderkid said:
The Leaper said:
Here's my responses to the OP's questions. Note wife and are 81/80 and been retired for almost 20 years, so my responses are experienced based.
1)The State Pension is the same in the Stockbroker Belt as it is in some depraved areas...is that a little odd?
No. Everyone pays the same so should get the same.
How does everyone pay the same? A bloke who worked from 16 to SP age, v his wife who went to uni, started work at 21, had 3 kids so didn't work and claimed child benefit from 25 -50, then went back to work part time until SP age. 1)The State Pension is the same in the Stockbroker Belt as it is in some depraved areas...is that a little odd?
No. Everyone pays the same so should get the same.
You chose to omit... "However, one issue is that the contribution is a percentage of pay whereas the benefit is a flat rate, so some pay a disproportionately higher amount than others."
So, every one pays the same percentage rate of their qualifying earnings whereas State pension is a flat rate benefit. That was my point.
R.
TwigtheWonderkid said:
The Leaper said:
Here's my responses to the OP's questions. Note wife and are 81/80 and been retired for almost 20 years, so my responses are experienced based.
1)The State Pension is the same in the Stockbroker Belt as it is in some depraved areas...is that a little odd?
No. Everyone pays the same so should get the same.
How does everyone pay the same? A bloke who worked from 16 to SP age, v his wife who went to uni, started work at 21, had 3 kids so didn't work and claimed child benefit from 25 -50, then went back to work part time until SP age. 1)The State Pension is the same in the Stockbroker Belt as it is in some depraved areas...is that a little odd?
No. Everyone pays the same so should get the same.
Clearly someone who earns more will have physically paid in more money than someone who earns far less, but that just follows the general premise that those who earn more help to support the less fortunate, with which as stated I have no issue. Iirc Leaper covered that point but selective quoting removed it.
Others may not agree with the general premise of course.
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