Pension stuff, how's it all looking ? HAve you prepared ?

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Re: Pension stuff, how's it all looking ? HAve you prepared ?

Post by Skub »

Mr. Dazzle wrote: Thu Feb 01, 2024 7:44 pm Not to mention the fact I will be nearly 70 myself then too!
Hey,it's not that bad,if you are reasonably healthy. :o :lol:
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Re: Pension stuff, how's it all looking ? HAve you prepared ?

Post by Mr. Dazzle »

Skub wrote: Thu Feb 01, 2024 8:01 pm
Mr. Dazzle wrote: Thu Feb 01, 2024 7:44 pm Not to mention the fact I will be nearly 70 myself then too!
Hey,it's not that bad,if you are reasonably healthy. :o :lol:
My Dad is 67, he's not long done his first ever 10 mile running race :o He's run more in the last 3-4 years then I remember him running in my entire youth :lol:
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Re: Pension stuff, how's it all looking ? HAve you prepared ?

Post by Skub »

Mr. Dazzle wrote: Thu Feb 01, 2024 8:07 pm
Skub wrote: Thu Feb 01, 2024 8:01 pm
Mr. Dazzle wrote: Thu Feb 01, 2024 7:44 pm Not to mention the fact I will be nearly 70 myself then too!
Hey,it's not that bad,if you are reasonably healthy. :o :lol:
My Dad is 67, he's not long done his first ever 10 mile running race :o He's run more in the last 3-4 years then I remember him running in my entire youth :lol:
Good man. 8-) I'm a year older than yer Da.
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Re: Pension stuff, how's it all looking ? HAve you prepared ?

Post by Dodgy69 »

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. 👍
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Re: Pension stuff, how's it all looking ? HAve you prepared ?

Post by weeksy »

Dodgy69 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. 👍
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 toys
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Re: Pension stuff, how's it all looking ? HAve you prepared ?

Post by Mr. Dazzle »

Dodgy69 wrote: Thu Feb 01, 2024 8:19 pm You want the option to get your hands on some decent cash at 55
57 :thumbup:

Disadvantage of being younger :lol:
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Re: Pension stuff, how's it all looking ? HAve you prepared ?

Post by Dodgy69 »

Finally....

For the first time in the 2 years I've had my pension invested, it's in positive territory. 🥳🥳🥳
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Re: Pension stuff, how's it all looking ? HAve you prepared ?

Post by weeksy »

New Ducati day?
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Re: Pension stuff, how's it all looking ? HAve you prepared ?

Post by JackyJoll »

Dodgy69 wrote: Sat Feb 17, 2024 5:44 pm Finally....

For the first time in the 2 years I've had my pension invested, it's in positive territory. 🥳🥳🥳
Starting 2 years ago was unfortunate timing! All the best for the future.
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Re: Pension stuff, how's it all looking ? HAve you prepared ?

Post by Dodgy69 »

weeksy wrote: Sat Feb 17, 2024 5:52 pmNew Ducati day?

MT is stopping for now, no one wants to buy it for sensible money. Bike changes are on hold. 🙂
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Re: Pension stuff, how's it all looking ? HAve you prepared ?

Post by Dodgy69 »

JackyJoll wrote: Sat Feb 17, 2024 5:53 pm
Dodgy69 wrote: Sat Feb 17, 2024 5:44 pm Finally....

For the first time in the 2 years I've had my pension invested, it's in positive territory. 🥳🥳🥳
Starting 2 years ago was unfortunate timing! All the best for the future.

Yep...about a month after I set it up, Putin got greedy. 🙂
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Re: Pension stuff, how's it all looking ? HAve you prepared ?

Post by JackyJoll »

Dodgy69 wrote: Sat Feb 17, 2024 8:05 pm
JackyJoll wrote: Sat Feb 17, 2024 5:53 pm
Dodgy69 wrote: Sat Feb 17, 2024 5:44 pm Finally....

For the first time in the 2 years I've had my pension invested, it's in positive territory. 🥳🥳🥳
Starting 2 years ago was unfortunate timing! All the best for the future.

Yep...about a month after I set it up, Putin got greedy. 🙂
I had the same trouble, but it wasn’t my main pension: just additional voluntary contributions and investment of the lump sums.
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Re: Pension stuff, how's it all looking ? HAve you prepared ?

Post by Horse »

Dodgy69 wrote: Sat Feb 17, 2024 8:05 pm
JackyJoll wrote: Sat Feb 17, 2024 5:53 pm
Dodgy69 wrote: Sat Feb 17, 2024 5:44 pm Finally....

For the first time in the 2 years I've had my pension invested, it's in positive territory. 🥳🥳🥳
Starting 2 years ago was unfortunate timing! All the best for the future.

Yep...about a month after I set it up, Putin got greedy. 🙂
Truss & Kwarteng buggered a fair chunk of mine :(
Even bland can be a type of character :wave:
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Re: Pension stuff, how's it all looking ? HAve you prepared ?

Post by JackyJoll »

Horse wrote: Sat Feb 17, 2024 10:18 pm
Dodgy69 wrote: Sat Feb 17, 2024 8:05 pm
JackyJoll wrote: Sat Feb 17, 2024 5:53 pm

Starting 2 years ago was unfortunate timing! All the best for the future.

Yep...about a month after I set it up, Putin got greedy. 🙂
Truss & Kwarteng buggered a fair chunk of mine :(
It’ll bounce back.
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Re: Pension stuff, how's it all looking ? HAve you prepared ?

Post by Count Steer »

Horse wrote: Sat Feb 17, 2024 10:18 pm
Dodgy69 wrote: Sat Feb 17, 2024 8:05 pm
JackyJoll wrote: Sat Feb 17, 2024 5:53 pm

Starting 2 years ago was unfortunate timing! All the best for the future.

Yep...about a month after I set it up, Putin got greedy. 🙂
Truss & Kwarteng buggered a fair chunk of mine :(
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. :eh:
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Re: Pension stuff, how's it all looking ? HAve you prepared ?

Post by Mr. Dazzle »

Hey he must be smart, he was on University Challenge. ;)
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Re: Pension stuff, how's it all looking ? HAve you prepared ?

Post by Taipan »

Dodgy69 wrote: Sat Feb 17, 2024 8:03 pm
weeksy wrote: Sat Feb 17, 2024 5:52 pmNew Ducati day?

MT is stopping for now, no one wants to buy it for sensible money. Bike changes are on hold. 🙂
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.
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Re: Pension stuff, how's it all looking ? HAve you prepared ?

Post by Taipan »

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! :thumbup:
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Re: Pension stuff, how's it all looking ? HAve you prepared ?

Post by Yorick »

Potter wrote: Sun Feb 18, 2024 10:53 am What is the average pension pot for a fifty year old person?

Google throws up a few different answers, I wondered what people think?
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.
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Re: Pension stuff, how's it all looking ? HAve you prepared ?

Post by MyLittleStudPony »

Potter wrote: Sun Feb 18, 2024 10:53 am What is the average pension pot for a fifty year old person?

Google throws up a few different answers, I wondered what people think?
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.