Sister is at the Crossroads - redundancy

[BlasterBates]

According to Wikipedia, the population of China is 1,341,403,687, of which a BBC article today claims 600,000,000 are middle class.

So the current recession will be over when the remaining 741,403,687 Chinese become middle class, and the entire population of India and Africa etc who aren't already middle class become so too.

Absolutely and they'll all want cars, washing machines etc, I know where my money's going.

[SimonMac]

the house is paid for and she is single. I think you are right about another job though.

maybe a pt job working in a shop

Considering Nigella is also 52, would MTT?

[doomage]

Sounds like a great opportunity. Use the redundancy money to buy an existing business, something with positive cashflow. Use your nous to grow the business.

Retire rich.

You guys think so small. Get another job. pah! She's probably got another 20 years of enjoyable work left in her if she wants.

New challenges or adventures is what she needs, some kind of purpose otherwise depression or some such might set in. She should be grateful.

[MarillionFan]

What does Benny think?

[vetran]

Sounds like a great opportunity. Use the redundancy money to buy an existing business, something with positive cashflow. Use your nous to grow the business.

Retire rich.

You guys think so small. Get another job. pah! She's probably got another 20 years of enjoyable work left in her if she wants.

New challenges or adventures is what she needs, some kind of purpose otherwise depression or some such might set in. She should be grateful.

if she is nervous she may not enjoy the challenge of running a business but getting a part time job elsewhere may make her relax and she can grow from there.

[DodgyAgent]

Can she or will she sell?

If you are willing to pick up the phone and hustle for business you will always have work.

[suityou01]

My sister is 52 and she has been offered redundancy by the big bank she works for. £70k pay off and and 11k pension she can take in three years time

but she is terrified. She's been working so long that the thought of not having a steady job frightens her a lot.

I knocked up a little spreadsheet for her, projecting out to 2030 where she will be under 5 different scenarios and she is mulling it over

anyone else here have any experience in this type of area ?

Mate, tell her I sympathise

I finished a gig last Thursday, and even though I am used to having time off I felt I left the gig too early and finishing on a Thursday was weird. Friday I felt all at sea (albeit hungover) and guilty for not working, bizarrely.

It soon lifts and today I was swinging power tools and on the DIY like a thing possessed. Feel happy enough.

The thing is she is too young to be on the scrap heap, term used loosely but is how she is feeling if truth be told. My father in law retired at the same age and I had very similar concerns over him. He was also worried about what it would mean.

I bought him a laptop (second hand), whacked linux on it and bought him a book. By the time he had finished messing about with it he was already 6 months into retirement and it eased him in gently.

Now he waxes lyrical about how busy he is, largely with the upkeep of his house, but also took up lawn bowls with the mother in law and has a very active social life, and grand kids.

The point is, as long as you stay socially active, and keep on moving, achieving there is nothing to fear.

Becoming reclusive is a slippery slope. I feel with a brother like you she has nothing to worry about.

Suity

[Jessica@WhiteFieldTax]

Prolly best to get her in front of a commercially minded IFA or accountant, one who can look at things from a more than just a numbers perspective.

But the spreadsheet scenarios you are going down are the nub of it.

[suityou01]

Considering Nigella is also 52, would MTT?

Seriously!?

This is pot-noodle-necrophilia. I need to think about how I feel about this.



Betrayed, for a start.


Is she a gilf?


Oh my Lordy. Dark day for me.

[EternalOptimist]

But the spreadsheet scenarios you are going down are the nub of it.

It's really interesting to see the way the bottom line cycles as lump sums, pensions and taxes change.
It's not just a simple straight line


i was semi shocked to see she gives £1300 to the church each year as a tithe. I know she is very devout, but that is a large slice for someone on a low ish income

thats more than i spend on fozzies. in a month

anyways. thats some good advice and support. thanks folks