Originally posted by TheDude
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What could you get by on?
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Originally posted by MaryPoppinsI'd still not breastfeed a naziOriginally posted by vetranUrine is quite nourishing -
Originally posted by d000hg View Post
I have really sucked on the pension front. I left employee-ship in my 20s before I'd even set one up. I created one which has maybe the first year's contribution (5k?) then never bothered, on the basis I had other things to invest in. Still don't really see the attraction but then I don't earn so much that I'm left with loads of retained funds burning a hole in MyCo's bank balance.Always forgive your enemies; nothing annoys them so much.Comment
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Originally posted by d000hg View Post
I have really sucked on the pension front. I left employee-ship in my 20s before I'd even set one up. I created one which has maybe the first year's contribution (5k?) then never bothered, on the basis I had other things to invest in. Still don't really see the attraction but then I don't earn so much that I'm left with loads of retained funds burning a hole in MyCo's bank balance.
I am a member of the local yacht club (sounds posh but I sail dinghies). There are many members who worked for the big local employers (Ford and Shell) who retired in their mid fifties. Some of them think they are financial geniuses but in reality all they did was not to opt out of making pension contributions.Comment
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Originally posted by TheDude View PostIt's a question I have been asking myself a lot recently.
I am 49 and have been pretty crap at contributing to pensions.
I have about £300k in the pot ATM which does not equate to a great annuity using online calculators.
I could (and really should) max out my pension contributions without really noticing however I wonder if it is still worth buying a BTL and just leave it to pay for itself as well.
A pot of £300k will turn into an easy £800 a month or so without hitting the capital. That's rather more than an annuity, but you need a good Wealth Manager (or lots of your own expertise if you're that way inclined) to realise that kind of return. Remember it's got to keep going for a long time. I get sufficient from my pot for now (which is actually going up at the moment despite me taking an income from it) but as inflation works its magic over the coming years, there will be a point where I have to start taking the capital out. Obviously the bigger the starting value the more flexibility you have, so start salting way as much as you can afford.
And remember, it's all taxable income... even the Old Age Pension when you get one; they simply take it off your personal allowance.Blog? What blog...?Comment
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Originally posted by Paddy View Post
There are many like you including IT workers who have moved to Bulgaria.
It's cheaper to live there with a better life style and fly back to the UK when needed.
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Originally posted by malvolio View Post
You don't have to take out an annuity...
A pot of £300k will turn into an easy £800 a month or so without hitting the capital. That's rather more than an annuity, but you need a good Wealth Manager (or lots of your own expertise if you're that way inclined) to realise that kind of return. Remember it's got to keep going for a long time. I get sufficient from my pot for now (which is actually going up at the moment despite me taking an income from it) but as inflation works its magic over the coming years, there will be a point where I have to start taking the capital out. Obviously the bigger the starting value the more flexibility you have, so start salting way as much as you can afford.
And remember, it's all taxable income... even the Old Age Pension when you get one; they simply take it off your personal allowance.
Rightly or wrongly I have focussed on doing nice things for the family ever since going contracting nearly a decade ago. I reckon I have another ten years left in the game assuming good health.Last edited by TheDude; 23 February 2022, 14:33.Comment
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Originally posted by TheDude View PostIt's a question I have been asking myself a lot recently.
I am 49 and have been pretty crap at contributing to pensions.
I have about £300k in the pot ATM which does not equate to a great annuity using online calculators.
I could (and really should) max out my pension contributions without really noticing however I wonder if it is still worth buying a BTL and just leave it to pay for itself as well.Comment
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Originally posted by TheDude View Post
Our generation missed out on the really good pensions.
I am a member of the local yacht club (sounds posh but I sail dinghies). There are many members who worked for the big local employers (Ford and Shell) who retired in their mid fifties. Some of them think they are financial geniuses but in reality all they did was not to opt out of making pension contributions.Originally posted by MaryPoppinsI'd still not breastfeed a naziOriginally posted by vetranUrine is quite nourishingComment
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Originally posted by d000hg View Post
Oh some of the pensions are crazy if you were in the public sector. These final-salary pensions where you retire and just keep getting paid forever, on your final salary. I've no idea what sort of ROI you are getting on your contribution but it's clear you're getting FAR more out than you ever put in.Comment
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Originally posted by woohoo View Post
Sounds appealing but it's we have been looking at Scotland, my family are originally from there and my wife has lots of family still living up that way. We have been up a couple of times to scout for houses and locations. So Bulgaria does sound appealing but I like the cold/wet weather and the views of Scotland, matches my grumpy personality.
If I was wanting to plan for getting older, I'd be looking at moving from Surrey to Devon...…Maybe we ain’t that young anymoreComment
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