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

[Skub]

Not to mention the fact I will be nearly 70 myself then too!

Hey,it's not that bad,if you are reasonably healthy.

[Mr. Dazzle]

Not to mention the fact I will be nearly 70 myself then too!

Hey,it's not that bad,if you are reasonably healthy.

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 youth

[Skub]

Not to mention the fact I will be nearly 70 myself then too!

Hey,it's not that bad,if you are reasonably healthy.

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 youth

Good man. I'm a year older than yer Da.

[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.

[weeksy]

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

[Mr. Dazzle]

You want the option to get your hands on some decent cash at 55

57

Disadvantage of being younger

[Dodgy69]

Finally....

For the first time in the 2 years I've had my pension invested, it's in positive territory.

[weeksy]

New Ducati day?

[JackyJoll]

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.

[Dodgy69]

New Ducati day?

MT is stopping for now, no one wants to buy it for sensible money. Bike changes are on hold.

[Dodgy69]

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.

[JackyJoll]

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.

[Horse]

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

[JackyJoll]

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.

[Count Steer]

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.

[Mr. Dazzle]

Hey he must be smart, he was on University Challenge.

[Taipan]

New 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.

[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!

[Yorick]

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.

[MyLittleStudPony]

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.