Creating money won't hurt

[crimdon]

Why cant old people ust work until they are 75?

Soylent Green

[bobhope]

Then your 5 year old must be a right tedious little bugger.

Obviously he doesn't talk about M0 money supply, etc.

But he knows that if your head hurts because you accidentally bashed it against a wall, you don't make it better by running at the wall again.

I.e. when you're in a hole, stop digging.

[expat]

I've never pilled into pensions

1/ you can't access the money until you are old
2/ you might not make it
3/ it could turn out to be worthless anyway

There are things to do with your life that you can do in your 50s, that you can't do in your 70s.

That goes double if you die in your 60s.

[expat]

When you take out an annuity for a pension, you have the choice of one that dies with you, or one that passes on something to your estate. The difference is that you get paid more in the first case, because it's all being blown on you and not saved to pass on. But the choice is yours.

Same as when you handle it yourself: if you live off interest, then you can pass on your capital; if you spend down your capital to zero at your death, you get more to spend but nothing to pass on.

[expat]

Quit now (mentally).
Pay cash.
Don't retire.
Die broke.

[Cyberman]

Thats funny - I guess nobody gets offered pension schemes anymore at interviews - perhaps people have a kind of intution they mght not be around to collect it ?

Whatever - I did not accept any pension schemes because I found them to difficult to understand - and anything in life that involves paying money and the details are unclear - beware.

Some pension schemes are non-contributory, so no contributions are necessary and thus a good deal. I have a deferred one with a bank from which I am currently waiting for a valuation.

If you have a company pension then the company contributes as well as yourself, and generally more, so in effect each year is worth a few thousand pounds extra salary. I also have one of these and is currently worth much more than a state pension would give me, yet it has been deferred for over a decade.

Other types of pension I agree are probably not good value, except a SIPP, but it is silly to knock all types when they can form part of a good retirement portfolio.

[Cyberman]

I would also venture that if you 'retire' and then do nowt with yoiur life - Nature sees that and will take you out - you only have to see that stats from pension companies to leatn not many folk collect more than two years of their pension - and the rest of the pension goes into the pockets of the Pension companies- Im not having that.

By the same token, I have known many people that have developed health problems through the stress of work, and also some who never managed to draw a pension because they died while in work. I'd rather retire early and at least have the opportunities that I would not have if I was committed to the daily grind.

[shaunbhoy]

I'd rather retire early and at least have the opportunities that I would not have if I was committed to the daily grind.

Do what I do and just get a job that is not a grind.

HTH

[Cyberman]

Do what I do and just get a job that is not a grind.

HTH

Most jobs become a grind over time and thus I have changed career a few times. I simply don't understand the mentality of somebody that does not want copious leisure-time.

[AlfredJPruffock]

Quit now (mentally).
Pay cash.
Don't retire.
Die broke.

Aye Expat

Taking some Time Out after that last gig are we ? - ah lucky man - with Spring just round the corner its not such a bad time - eh ?

Whatever you're up to - good luck !