Enjoying Retirement
Discussion
skeeterm5 said:
Now that summer seems to have arrived we thought we would pop for an ice cream on the beach.
It was lovely by the sea and we had it pretty much to ourselves. A lovely afternoon.
Some lovely beaches where you are . It was lovely by the sea and we had it pretty much to ourselves. A lovely afternoon.
Water temperature Still a tad cold though ?
Edited by GT3Manthey on Tuesday 5th September 16:43
Good morning everyone looks like you retirees are doing just fine.
Tks OldSkool for the mention .
Move went well although we are still unpacking and lots of work is ongoing at the new house with plans for a redesigned kitchen as well as other smaller changes.
This is draining my earnings currently which although I’d allowed for we seem to be finding more expenses along the way !
I’m just about to sign with an agent to sell our flat but now Mrs GT3 has decided she wants to replace one flat with another in the area I’m currently renting for work .
This wasn’t in the original plan but I am mindful that I’ve also taken away the area my daughter knows best and I’m keen to give her a place to stay more local to what she knows when she’s back from uni.
This doesn’t mean retirement can’t happen and ownership of another flat won’t be forever so although that money is tied up it’s invested as such. Just means there are additional running costs.
So all in all we are still heading towards retiring but not quite there yet. Guess these things just take longer than sometimes anticipated.
Keen to see that RS running OldSkool so keep us updated.
Has anyone heard from Jaguar Steve who was very much on the start of this thread ? I might drop him a PM
Tks OldSkool for the mention .
Move went well although we are still unpacking and lots of work is ongoing at the new house with plans for a redesigned kitchen as well as other smaller changes.
This is draining my earnings currently which although I’d allowed for we seem to be finding more expenses along the way !
I’m just about to sign with an agent to sell our flat but now Mrs GT3 has decided she wants to replace one flat with another in the area I’m currently renting for work .
This wasn’t in the original plan but I am mindful that I’ve also taken away the area my daughter knows best and I’m keen to give her a place to stay more local to what she knows when she’s back from uni.
This doesn’t mean retirement can’t happen and ownership of another flat won’t be forever so although that money is tied up it’s invested as such. Just means there are additional running costs.
So all in all we are still heading towards retiring but not quite there yet. Guess these things just take longer than sometimes anticipated.
Keen to see that RS running OldSkool so keep us updated.
Has anyone heard from Jaguar Steve who was very much on the start of this thread ? I might drop him a PM
okgo said:
I’d say your daughter has got a SWEET deal there - have you checked there is ANY expectation for such a thing from her?
Getting her and Airbnb would be a better option perhaps, once uni is done she’ll not likely want anything to do with the area like most grads?
Yes a very spoilt little princess! Getting her and Airbnb would be a better option perhaps, once uni is done she’ll not likely want anything to do with the area like most grads?
The Mrs is also keen on a replacement flat too and I’m not against the idea tbh as it’s just reversing what we had and as I say the money is at least invested.
It’s not a deal breaker for retirement as such but I’ve explained means we have to make other sacrifices which I don’t really care for anyway.
The cost of the flat will be what I’d earmarked as a split deposit for the kids at some stage so I’d say we’ll own the flat for circa 5 years.
OldSkoolRS said:
I'll start a reader's cars thread once I get going. :thumb:
I looked for Jaguar Steve and his last post on PH was ages ago. Couldn't see any posts that might have indicated he'd had enough of posting or was having arguments with anyone, so a bit of odd really. I hope he is OK and just decided to stop posting on here as occasionally people do. Can't say I've seen any posts that look like a re-reg either as I think I'd recognise his style or at least general view.
I’d be keen to know he’s OK as a fellow ‘Badlander’ I looked for Jaguar Steve and his last post on PH was ages ago. Couldn't see any posts that might have indicated he'd had enough of posting or was having arguments with anyone, so a bit of odd really. I hope he is OK and just decided to stop posting on here as occasionally people do. Can't say I've seen any posts that look like a re-reg either as I think I'd recognise his style or at least general view.
Have a decorator going to the flat today to price up and get it listed.
My rental agreement doesn’t end till June next year so we have time as such .
alscar said:
Yes either way BOMD will apply.
I suppose too that location of Uni and what your daughter does post Uni might also have a bearing.
One of my children did end up in the same town as their Uni but that was driven more by his job choice and also the fact that buying a house there was more affordable - even allowing for BOMD contribution.
Indeed that will always be a factor. I suppose too that location of Uni and what your daughter does post Uni might also have a bearing.
One of my children did end up in the same town as their Uni but that was driven more by his job choice and also the fact that buying a house there was more affordable - even allowing for BOMD contribution.
BOMD seems to be back home currently but of course that can always change .
Retirement is still very much my focus. I’m always one to tick all the boxes before I commit and of course I’m mindful I’m the only bead winner i need to be sure.
Bit of a curve ball with the flat and the recent COL increases but we can work around these I’m sure.
Also I’m hearing of too many my age or slightly older no longer with us so that’s a big driver.
Sorry for the morbid end to my post !
Halitosis said:
I'm sure you've already considered it, but we were in a not-dissimilar situation with our son and ended up with him being the named buyer/owner of the flat. Such saves a considerable amount in stamp duty, council tax, and of course any capital gains are exempt as the flat is his primary/only residence. That's him on the property ladder and he's grown up a lot with the responsibility. Should he decide in the medium term to retain the flat, he knows that he needs to get a mortgage of his own and pay us back.
Morning , yes the plan ( once the other flat is sold is to gift our daughter the cash and she buys the flat in her name. I’ll still be paying the bills until she finishes uni and we’ll go from there.
Tbh I also like having a flat closer to London too as I do sometimes still need the madness of the area so I’m not dead against the idea.
craig1912 said:
Totally agree although I’d possibly look beyond 80 and have a thought for care home fees if necessary.
My Dad recently passed away ange 90 always reluctant to spend money etc. etc. He died with £250k in the bank!
That doesn’t surprise me tbh . My Dad recently passed away ange 90 always reluctant to spend money etc. etc. He died with £250k in the bank!
My mother is hoarding money . Enjoys just knowing it’s there and it stacks up each month as she can’t spend what she gets in pensions .
Her thinking is that she never always had money and now she’s got it she doesn’t want to part with it .
We’ve pointed out the tax implications and a potential incoming labour government that might look at inheritance tax and wealth but she won’t budge.
She’s 85
OldSkoolRS said:
Wow...page 400 (for me anyway) and GT3 still hasn't retired yet. 
Just joking as I know it's a work in progress, not unlike my retirement project that I still haven't started on yet.
Had a problem with my Alfa recently and a leaking thermostat housing that nearly cooked the engine. Then a replacement one that is stuck open, so it doesn't heat up properly. Hopefully got another one coming tomorrow to fit. At least I can get them off in 8 minutes now as I timed myself today.
Off to the NEC this weekend for the classic car show and a few beers/meal out with my old school mates. If I get the Alfa sorted and a final tip run done to clear space I might try to get on with the RS next week.
Just waiting to hear back from my (hopefully) new pension provider to confirm some details, then I can get it set up to start in January. Then I can forget about the financial stuff for a while and just get on with retirement.
The fact we’d gotten to 400 pages hadnt gone unnoticed with me over the weekend . Just joking as I know it's a work in progress, not unlike my retirement project that I still haven't started on yet.
Had a problem with my Alfa recently and a leaking thermostat housing that nearly cooked the engine. Then a replacement one that is stuck open, so it doesn't heat up properly. Hopefully got another one coming tomorrow to fit. At least I can get them off in 8 minutes now as I timed myself today.
Off to the NEC this weekend for the classic car show and a few beers/meal out with my old school mates. If I get the Alfa sorted and a final tip run done to clear space I might try to get on with the RS next week.
Just waiting to hear back from my (hopefully) new pension provider to confirm some details, then I can get it set up to start in January. Then I can forget about the financial stuff for a while and just get on with retirement.
Damn I have people over this weekend or I’d be tempted to go up to the NEC . Always a great event.
Flat being decorated now and will then be up for sale but I’m
Certainly not hopeful of a sale this side of Xmas .
Had to renew some car insurance today and was shocked at the seemingly increases in premiums . Granted the COI on everything has risen but even using Go Compare it’s some 30% up .
Anyone else noted this ?
Time for a car to go I think or my expenses spreadsheet will blown up !
In other news the family house is coming along nicely . Some new furniture arrived at the weekend and we ordered a new front door that we won’t get fitted until March 24.
We’re having some changes to the kitchen priced up which aren’t cheap but need doing then the house is compete. Lots of disruption but will be a good upgrade.
Other than that it’s head down at the coal face still !
Keep up the good work ( retirement) everyone
So guys , this morning 3 of our household received a letter from The wealth manager I use ( I have monies in 3 names with them) saying they are restricting withdrawals from the monies they have in property funds due to the falling value of those stocks and not wanting to make the situation worse.
Is this happening with other wealth funds and is this something that does happen from time to time ?
Is this happening with other wealth funds and is this something that does happen from time to time ?
scot_aln said:
I think sometime in later 2022 I started to notice more restrictions being reported on property funds. This article for example at the start of the year -
https://www.reuters.com/world/uk/cbre-defers-aroun...
That’s great many tks . https://www.reuters.com/world/uk/cbre-defers-aroun...
Having not read that or previously heard of such restrictions I did have a small panic although it does make sense.
It’s like calling limit down on the stock market I guess .
Tks again
Longy00000 said:
Yes it's happened a few times in recent years particularly when Covid first raised its ugly head. Lots of property funds restricted withdrawals during that period of huge volatility in world markets.
Thanks Longy again reassuring to know. Another job this week is to get one of our Diesels up for sale .
As per my other post insurance is making unviable along with running costs and the occasional trip close to the Ulez areas.
I’ll be using a 1ltr eco boost fiesta for a while for when I occasionally need a car .
Need to keep finances in line and of course there is more spending ahead on the family home.
Decorator been at my flat this week who’s costs I was hoping to levy against CGT on the sale but seems it’s only building works, estate agents costs and legal fees.
Lots going on still !
I did have a chat with Bupa a while back for family cover but I’m assuming prices ( along with everything else) have risen so I’ll need to come back to this.
Biggest concern at Mo is selling our coastal flat.
A couple have tried this year with no success and more alternative stock is appearing .
We’ll be realistic with pricing and if I see a decent bid I’ll go straight into battle.
I did think best to hold off until the spring however others say get it listed as we might get lucky . Who really knows
Biggest concern at Mo is selling our coastal flat.
A couple have tried this year with no success and more alternative stock is appearing .
We’ll be realistic with pricing and if I see a decent bid I’ll go straight into battle.
I did think best to hold off until the spring however others say get it listed as we might get lucky . Who really knows
Longy00000 said:
Unfortunately property around ours is sticking a little at the moment, so just a sign of the times with higher interest rates curbing people's enthusiasm.
Ultimately though everything always s finds a buyer so I'm sure you will ne OK might just take a few months
Tks Longy. Ultimately though everything always s finds a buyer so I'm sure you will ne OK might just take a few months
It’ll present well for viewings as now being decorated so fingers crossed.
skeeterm5 said:
Are you plans to retire on it contingent upon selling the flat? If not, have you considered a long term rental instead? I am sure you have but thought it was worth a mention.
If not, then good luck with the sale.
Hi Skeeterm , If not, then good luck with the sale.
The original plan was to sell the flat and add the proceeds to the retirement pot but having moved the family home now to the same area as the flat and being that much further out we’ve decided to use the monies once sold to buy a flat closer to London for our daughter & us to also use.
The one I’m selling has a clause in the lease that prohibits renting so it has to go.
I don’t intend keeping the flat beyond 10 years so it’ll always end up back in the retirement pot as such but of course it means there are ownership running costs so we’ll have to play around with numbers to make it work.
So still a few moving parts
Edited by GT3Manthey on Wednesday 8th November 11:40
Edited by GT3Manthey on Wednesday 8th November 12:48
Armitage.Shanks said:
I think in the car insurance arena we're all going to feel the hit with renewals from now. I was watching the Martin Lewis show last week and they featured ludicrous renewal prices being quoted - in some cases a £2000+ uplift! I thought no way.
The renewal has just come in on the old Audi A2 we've owned since 2007 and use as the dog/shop transport. Last year £141. Renewal £331. Running the comparison sites the best I can get is £206 or £187 if I went TPF&T. Renewals on the other three cars when they land will be interesting
I’m getting our 2014 diesel evoque fixed this week and putting it up for sale . I previously mentioned a 30% increase in my annual premium on that car but had confused oh with another car we own . The increase was double. The renewal has just come in on the old Audi A2 we've owned since 2007 and use as the dog/shop transport. Last year £141. Renewal £331. Running the comparison sites the best I can get is £206 or £187 if I went TPF&T. Renewals on the other three cars when they land will be interesting
It’s scandalous
mikeiow said:
The Leaper said:
GT3Manthey said:
Armitage.Shanks said:
I think in the car insurance arena we're all going to feel the hit with renewals from now. I was watching the Martin Lewis show last week and they featured ludicrous renewal prices being quoted - in some cases a £2000+ uplift! I thought no way.
The renewal has just come in on the old Audi A2 we've owned since 2007 and use as the dog/shop transport. Last year £141. Renewal £331. Running the comparison sites the best I can get is £206 or £187 if I went TPF&T. Renewals on the other three cars when they land will be interesting
I’m getting our 2014 diesel evoque fixed this week and putting it up for sale . I previously mentioned a 30% increase in my annual premium on that car but had confused oh with another car we own . The increase was double. The renewal has just come in on the old Audi A2 we've owned since 2007 and use as the dog/shop transport. Last year £141. Renewal £331. Running the comparison sites the best I can get is £206 or £187 if I went TPF&T. Renewals on the other three cars when they land will be interesting
It’s scandalous
I have a LR 2015 Discovery Sport 2.2 SD4 HSE Lux, had it for 7 years. I do about 10,000 miles pa. We live mid Surrey. Renewal premiums were 2022: £677, 2023: £736. This is with a full NCD for fully comp, only driver me. Policy renews March each year. A 9% increase suggests that I got a reasonable deal.
Going to be interesting to see if there's any "loading" in 2024 now I've turned 80!
R.
Many years ago, FIL grumbled about his car insurance, then grumbled he would be too old to move companies. Would have been about when he was 80.
I spent a short time via TopCashBack on the comparison sites: *halved* his premium for him
He spent a long time asking me questions, convinced the cover would be reduced.
Nope: his insurers were taking him for granted (& a ride at his expense!).
Eventually, he was happy with the savings
Same with their home insurance.
Not suggesting this is you, btw, but many older people, often not tech savvy, are very intransigent in their ‘buying habits’!
I get older, I have full no claims , the cars are worth less each year and we pay more !
mikeiow said:
Galling, isn’t it.
Several years ago, we found that Admiral multi-car worked well for us (ie, best price for the cover we needed)….then the next year it went up enough to make me search around, and we split them out again….
Always worth a look, but I feel rarely makes things cheaper, just perhaps ‘easier’.
If insurance companies go up less than inflation, then I don’t (generally) search to change. Once they take the mickey, it’s time to move
Spot of gardening today, followed by (gasp) my first volleyball match in almost 6 months tonight….must do a proper warm-up with my creaking joints
‘The kids’ are properly taking things over at our Club: we have a very snazzy new kit designed by them & shipped over from the Philippines at the grand price of £15 a shirt, including individual names & numbers, etc. Really nice to see (& encourage - I won’t be playing much longer!)
Hi Mike tks I’ll stick to the comparison sites on an individual basis . I do have a 2014 fiesta eco boost worth very little but zero road tax & does 50mpg so I’ll be driving that as much as poss. I do feel the days of owning big cars are over for me now. Several years ago, we found that Admiral multi-car worked well for us (ie, best price for the cover we needed)….then the next year it went up enough to make me search around, and we split them out again….
Always worth a look, but I feel rarely makes things cheaper, just perhaps ‘easier’.
If insurance companies go up less than inflation, then I don’t (generally) search to change. Once they take the mickey, it’s time to move
Spot of gardening today, followed by (gasp) my first volleyball match in almost 6 months tonight….must do a proper warm-up with my creaking joints
‘The kids’ are properly taking things over at our Club: we have a very snazzy new kit designed by them & shipped over from the Philippines at the grand price of £15 a shirt, including individual names & numbers, etc. Really nice to see (& encourage - I won’t be playing much longer!)
Volleyball ! Great game. I remember the days in my teens playing on a beach in Ibiza then running to the sea to cool off . Enjoy and keep going as long as poss
skeeterm5 said:
My 1600e is £90 a year, fully comp, 5k miles and agreed value using A Plan. The accepted some pictures from inside the garage when I first did the policy.
Bargain motoring plus you get to drive a very cool car. I do wonder what the longer term future is with old cars but seems plenty of buyers still around judging by the sales achieved at the NEC.
Often try and think of an everyday older car for fun drives too .
Keep coming back to MX5’s
Desiderata said:
We'll! I've finally gone and done it.
I've "retired" twice before, once at 55 and again at 59.
60 glorious years old yesterday and it's definitely permanent this time.
We don't much in the way of cash reserves or a very big income, but everything we've done over the past few years has been to prepare for the life we want at a cost we can afford.
We've built a house that we'll be comfortable in well into our dottage in a place we want to be almost all of the time.
We bought the property and built the house with cash reserves, so no mortgage. It's super insulated and with a heat pump and solar gain and plenty of free firewood for stoves so very cheap to run.
I extended a one bedroom bothy to build the house so we are on band (a) £800 per year council tax .
We have cut back to three cars (and a tractor) all older, but all paid for and cheap to run.
We have enough land to feed ourselves easily as long as we are able. If we were 20 years younger, I reckon we could be entirely off grid and self sustaining, but even as decrepit as we are and are likely to become, we should be able to produce most of our food ourselves.
Always a slight niggle as to whether we'll have enough cash as time goes on, but we could always sell up and have a very comfortable life somewhere warm and cheap if things go awry. Has anyone else taken this approach?
Many congrats. I've "retired" twice before, once at 55 and again at 59.
60 glorious years old yesterday and it's definitely permanent this time.
We don't much in the way of cash reserves or a very big income, but everything we've done over the past few years has been to prepare for the life we want at a cost we can afford.
We've built a house that we'll be comfortable in well into our dottage in a place we want to be almost all of the time.
We bought the property and built the house with cash reserves, so no mortgage. It's super insulated and with a heat pump and solar gain and plenty of free firewood for stoves so very cheap to run.
I extended a one bedroom bothy to build the house so we are on band (a) £800 per year council tax .
We have cut back to three cars (and a tractor) all older, but all paid for and cheap to run.
We have enough land to feed ourselves easily as long as we are able. If we were 20 years younger, I reckon we could be entirely off grid and self sustaining, but even as decrepit as we are and are likely to become, we should be able to produce most of our food ourselves.
Always a slight niggle as to whether we'll have enough cash as time goes on, but we could always sell up and have a very comfortable life somewhere warm and cheap if things go awry. Has anyone else taken this approach?
I love and admire your approach to life in retirement.
Wish I could say my wife would embrace the same although as she’s a foodie she may well get into this idea somewhat.
Pls keep us posted with how it’s all going
scot_aln said:
Insurance wise does noone else use or try Saga for car insurance? I accepted the over 50 part relatively recently and for the last 2 years noone has got close to them on quote or renewal (<10% up in October vs next nearest >50%).
We did once use Saga which I remember having a chuckle about as I’d always thought of Saga holidays meant old people ! Using the comparison sites Saga were actually on the list but not the cheapest.
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