Hey,it's not that bad,if you are reasonably healthy.Mr. Dazzle wrote: ↑Thu Feb 01, 2024 7:44 pm Not to mention the fact I will be nearly 70 myself then too!
Pension stuff, how's it all looking ? HAve you prepared ?
- Skub
- Posts: 12124
- Joined: Mon Mar 16, 2020 5:32 pm
- Location: Norn Iron
- Has thanked: 9778 times
- Been thanked: 10081 times
Re: Pension stuff, how's it all looking ? HAve you prepared ?
"Be kind to past versions of yourself that didn't know what you know now."
Walt Whitman
https://soundcloud.com/skub1955
Walt Whitman
https://soundcloud.com/skub1955
-
- Posts: 13870
- Joined: Mon Mar 16, 2020 7:57 pm
- Location: Milton Keynes
- Has thanked: 2545 times
- Been thanked: 6202 times
Re: Pension stuff, how's it all looking ? HAve you prepared ?
My Dad is 67, he's not long done his first ever 10 mile running race He's run more in the last 3-4 years then I remember him running in my entire youthSkub wrote: ↑Thu Feb 01, 2024 8:01 pmHey,it's not that bad,if you are reasonably healthy.Mr. Dazzle wrote: ↑Thu Feb 01, 2024 7:44 pm Not to mention the fact I will be nearly 70 myself then too!
- Skub
- Posts: 12124
- Joined: Mon Mar 16, 2020 5:32 pm
- Location: Norn Iron
- Has thanked: 9778 times
- Been thanked: 10081 times
Re: Pension stuff, how's it all looking ? HAve you prepared ?
Good man. I'm a year older than yer Da.Mr. Dazzle wrote: ↑Thu Feb 01, 2024 8:07 pmMy Dad is 67, he's not long done his first ever 10 mile running race He's run more in the last 3-4 years then I remember him running in my entire youthSkub wrote: ↑Thu Feb 01, 2024 8:01 pmHey,it's not that bad,if you are reasonably healthy.Mr. Dazzle wrote: ↑Thu Feb 01, 2024 7:44 pm Not to mention the fact I will be nearly 70 myself then too!
"Be kind to past versions of yourself that didn't know what you know now."
Walt Whitman
https://soundcloud.com/skub1955
Walt Whitman
https://soundcloud.com/skub1955
- Dodgy69
- Posts: 5424
- Joined: Mon Mar 16, 2020 6:36 pm
- Location: Shrewsbury
- Has thanked: 1741 times
- Been thanked: 2065 times
Re: Pension stuff, how's it all looking ? HAve you prepared ?
You want the option to get your hands on some decent cash at 55... If it's final salary (DB scheme) you will have to start drawing the 75% taxable aswel as the 25% at the same time.
If you're in a (DC scheme) you can take 25% and do whatever with it, same as above, but the 75% bit can stay invested until you really need it. So, one option is stick the 25% tax free bit somewhere where you can get your hands on it and leave the rest invested.
DB schemes are often thought of as the better, gold plated pension, but I transferred mine out because of the greater flexibility on the DC scheme, personal pot.
I've pulled my 25% and now have premium bonds and isas which I can access anytime.
If you're in a (DC scheme) you can take 25% and do whatever with it, same as above, but the 75% bit can stay invested until you really need it. So, one option is stick the 25% tax free bit somewhere where you can get your hands on it and leave the rest invested.
DB schemes are often thought of as the better, gold plated pension, but I transferred mine out because of the greater flexibility on the DC scheme, personal pot.
I've pulled my 25% and now have premium bonds and isas which I can access anytime.
Yamaha rocket 3
- weeksy
- Site Admin
- Posts: 23301
- Joined: Sat Mar 14, 2020 12:08 pm
- Has thanked: 5434 times
- Been thanked: 13025 times
Re: Pension stuff, how's it all looking ? HAve you prepared ?
I'd have to put it somewhere I can't get it as I'm not really a responsible adult. So I'd use 5-10% for a few things I've got in mind, the other 15% would have to go somewhere only Mrs Weeksy can get to otherwise I'll have a garage full of toysDodgy69 wrote: ↑Thu Feb 01, 2024 8:19 pm You want the option to get your hands on some decent cash at 55... If it's final salary (DB scheme) you will have to start drawing the 75% taxable aswel as the 25% at the same time.
If you're in a (DC scheme) you can take 25% and do whatever with it, same as above, but the 75% bit can stay invested until you really need it. So, one option is stick the 25% tax free bit somewhere where you can get your hands on it and leave the rest invested.
DB schemes are often thought of as the better, gold plated pension, but I transferred mine out because of the greater flexibility on the DC scheme, personal pot.
I've pulled my 25% and now have premium bonds and isas which I can access anytime.
-
- Posts: 13870
- Joined: Mon Mar 16, 2020 7:57 pm
- Location: Milton Keynes
- Has thanked: 2545 times
- Been thanked: 6202 times
- Dodgy69
- Posts: 5424
- Joined: Mon Mar 16, 2020 6:36 pm
- Location: Shrewsbury
- Has thanked: 1741 times
- Been thanked: 2065 times
Re: Pension stuff, how's it all looking ? HAve you prepared ?
Finally....
For the first time in the 2 years I've had my pension invested, it's in positive territory.
For the first time in the 2 years I've had my pension invested, it's in positive territory.
Yamaha rocket 3
- weeksy
- Site Admin
- Posts: 23301
- Joined: Sat Mar 14, 2020 12:08 pm
- Has thanked: 5434 times
- Been thanked: 13025 times
-
- Posts: 3716
- Joined: Sun May 03, 2020 10:11 pm
- Has thanked: 260 times
- Been thanked: 1255 times
Re: Pension stuff, how's it all looking ? HAve you prepared ?
Starting 2 years ago was unfortunate timing! All the best for the future.
- Dodgy69
- Posts: 5424
- Joined: Mon Mar 16, 2020 6:36 pm
- Location: Shrewsbury
- Has thanked: 1741 times
- Been thanked: 2065 times
Re: Pension stuff, how's it all looking ? HAve you prepared ?
MT is stopping for now, no one wants to buy it for sensible money. Bike changes are on hold.
Yamaha rocket 3
- Dodgy69
- Posts: 5424
- Joined: Mon Mar 16, 2020 6:36 pm
- Location: Shrewsbury
- Has thanked: 1741 times
- Been thanked: 2065 times
Re: Pension stuff, how's it all looking ? HAve you prepared ?
Yep...about a month after I set it up, Putin got greedy.
Yamaha rocket 3
-
- Posts: 3716
- Joined: Sun May 03, 2020 10:11 pm
- Has thanked: 260 times
- Been thanked: 1255 times
Re: Pension stuff, how's it all looking ? HAve you prepared ?
I had the same trouble, but it wasn’t my main pension: just additional voluntary contributions and investment of the lump sums.
- Horse
- Posts: 11477
- Joined: Sun Mar 15, 2020 11:30 am
- Location: Always sunny southern England
- Has thanked: 6127 times
- Been thanked: 5038 times
Re: Pension stuff, how's it all looking ? HAve you prepared ?
Truss & Kwarteng buggered a fair chunk of mine
Even bland can be a type of character
-
- Posts: 3716
- Joined: Sun May 03, 2020 10:11 pm
- Has thanked: 260 times
- Been thanked: 1255 times
Re: Pension stuff, how's it all looking ? HAve you prepared ?
It’ll bounce back.
- Count Steer
- Posts: 11743
- Joined: Mon Jul 19, 2021 4:59 pm
- Has thanked: 6345 times
- Been thanked: 4729 times
Re: Pension stuff, how's it all looking ? HAve you prepared ?
They did a real job on bonds related funds didn't they? Recovery has been glacial. Meanwhile Kwarteng is off to share his expertise with the City.
Doubt is not a pleasant condition.
But certainty is an absurd one.
Voltaire
But certainty is an absurd one.
Voltaire
-
- Posts: 13870
- Joined: Mon Mar 16, 2020 7:57 pm
- Location: Milton Keynes
- Has thanked: 2545 times
- Been thanked: 6202 times
Re: Pension stuff, how's it all looking ? HAve you prepared ?
Hey he must be smart, he was on University Challenge.
- Taipan
- Posts: 13799
- Joined: Sat Mar 14, 2020 1:48 pm
- Location: Essex Riviera!
- Has thanked: 15815 times
- Been thanked: 10176 times
Re: Pension stuff, how's it all looking ? HAve you prepared ?
I gave up trying to sell my Cb1r over winter. Got some ridiculous offers, so pulled the ad and decided to wait until April or March if the weathers picks up.
- Taipan
- Posts: 13799
- Joined: Sat Mar 14, 2020 1:48 pm
- Location: Essex Riviera!
- Has thanked: 15815 times
- Been thanked: 10176 times
Re: Pension stuff, how's it all looking ? HAve you prepared ?
I wouldn’t have a clue. Sometimes I wish I knew more about these matters, but tbh, I reckon the wife and I could survive well enough on state pensions. We both have private pensions as well though, so I guess that’s why I don’t trouble myself with such things. If we struggle I’ll set myself up an only fans page!
- Yorick
- Posts: 16667
- Joined: Sat Mar 14, 2020 8:20 pm
- Location: Paradise
- Has thanked: 10211 times
- Been thanked: 6860 times
Re: Pension stuff, how's it all looking ? HAve you prepared ?
Not sure but mine have doubled since I retired 10 years ago.
I'm no financial expert, but I'd never take money out of pensions. They're nice little earners.
Caveat, I take £15,000 tax free out of one each year.
That tax saving is nice and the money goes into ISAs or pays for my Euro trackdays.
-
- Posts: 1133
- Joined: Sat Mar 14, 2020 9:28 pm
- Has thanked: 604 times
- Been thanked: 401 times
Re: Pension stuff, how's it all looking ? HAve you prepared ?
I think I have about 50k in mine from memory. I'm not relying on it for anything. I gave up on it a good while back and put the money elsewhere.
With a good annuity paying 5% and a typical one more like 3.5% (from memory), you'd need a £500k pot to get about £20k a year of income. I'd rather have the £500k myself.
I think our generation got many amazing things. Pensions were not among them for most.