[Dave Willis]

I just had my annual pension reports come through this morning. I have three or four pension plans going - absolutely pathetic!
I wouldn't advise anyone to take out a pension and pay the tossers to mismanage your money.

What plans do you have after a life of windowcleaning?

[Mike #1]

Stopped paying into a pension about 3yrs ago used to pay £300 a month into it but no longer saw the point as taking into account inflation and the fact that they now expect you to live a lot longer , I would be lucky to get £2-300 a month .

Spoke to a self employed joiner who had paid a good amount into a pension for over 30 years and as  he  neared retirement and asked what his annual payout would be  was totally shocked to discover he was to be paid far less than expected as they calculated he would live well into his Eighties  and now has to watch carefully  what he spends .

I would much rather pay off my mortgage early and enjoy my life  while i am fit and healthy and have my money to spend as i wish not have a pension pot with an insurance company  of over £100,000 and be told i can have pittance each month after paying in over 30yrs .

So right now i have no plans just keep on grafting thats the way its going for most working class people anyway .

[kempy]

Work till were 75 years .. Lol

[jk999]

Sod pensions my house is my pension will be paid off when im 55 sell house then thinking about moving to coast , all ready got a job lined up cleaning caravans lol n thats not for another 8 years yet lol . My dad is still cleaning windows and he is 75 this months sod working till that age

[dazmond]

the good thing about window cleaning is that you can reduce your hours as you get older and keep the good paying jobs.i know  2 guys still cleaning in their 70s and they look fantastic for their age.they work part time now though.one of them has given half his round over to his son and has saved money all his working life and has a good nest egg.both of them go on holiday 4 or 5 times a year.

of course this is if your health  holds out.theres no guarantees though in this life im afraid.

woody allen says "retirement is for those that spend their whole working life doing something they hate!"

[Rich Wilts]

I will probably work two days a week - keeping the best paying jobs. At that age earning £300 a day for easy work whats to moan about. Its my belief once you retire most die fairly rpidly after that, so why not do something that helps to continue to keep your body and mind fitter than sitting in front of an overgrown allotment?

[Mike #1]

Working 3 half days a week when I'm  in my 60's will pay me far far better than any pension .

[martinw]

last year the oldest window cleaner  in my area stopped working at the age of 96!

[TomCrowther]

The rules are changing regarding pensions. V soon, you will be able to choose how to take the money from the pot. Instead of being forced to take an annuity, you can take the whole amount and spend/do what you want with it.
In the past I paid a lot into pensions and the predicted returns are very disappointing.
Dazmond is on the right track. Stay healthy, sell bulk of your round and keep working part time.

[slap bash]

Pay into a pension is totally crazy in the U K. All these pension companies do is erect buildings in there own interest and gives you a small return. The best thing to do in The U K is invest in you own property that you can rent out and get a tenant to contribute to you pension . I have worked in three countries in property and the UK is uneek  in the world as it is one of the only countries that your rental return is higher than you mortgage repayment. After 20 years you have a investment paid off and can then enjoy the rent as a salary and still have a asset to sell or leave to your kids. I am surprised that people even consider as pension in our country.

[NWH]

You should be able to work 2 days a week and get far more than you'd get from nearly any pension. Just think of all the poor sods that have waited years to retire only to be told there getting a pittance. You never know what's round the corner enjoy life while you can,it's not set in stone we all get to retire anyway,I would never live my life in my head  20-30 years down the line that's madness

[lal]

the good thing about window cleaning is that you can reduce your hours as you get older and keep the good paying jobs.i know  2 guys still cleaning in their 70s and they look fantastic for their age.they work part time now though.one of them has given half his round over to his son and has saved money all his working life and has a good nest egg.both of them go on holiday 4 or 5 times a year.

of course this is if your health  holds out.theres no guarantees though in this life im afraid.

woody allen says "retirement is for those that spend their whole working life doing something they hate!"

 Good Post dazmond.
 Lal

[SeanK]

Sell the house and every other drain on my finances, then taking a motorhome to the south of Spain, stay off the
tourist track and you a can live it up for very little money.
Actually know a few places when I can meet up with guys who have done the same, there's no way you will be able to
survive here unless you win the lottery or work until you drop.

[dd]

Recently I transferred my pension from a well known provider to a "self invested personal pension". The charges are lower and the performance better (so far). It does involve some homework and monitoring though as I make the investment choices.

[duncan h]

Took my pension out at 19 when first self employed. Set it up to retire age 50 on £500 a week. 50 this year. Pension is worth poope. Better under bed

[Dave Willis]

One of my plans has a £44,000 fund value and will pay me £1000 A YEAR - stunning value for money!

Got to wait 'till I'm 60 for that cracker and then values could go up or down by then - imagine if they went down - I'd have to let the butler go. 

[dd]

You can actually do what you like with the pension pot under new regulations.

Currently you could put £44k in to an investment trust (share) or an etf (exchange traded fund) and expect to recieve a dividend around 4% per anum which on 44k translates to £1760 per year.

[Johnny B]

My plan is to keep on working as long as I am physically and mentally able. Depending on how circumstances are  when I am of retirement age, I will either carry on exactly as before, or just do a couple of days as week. I am 53 now, so still have a good few years before deciding which direction to take.

The way pensions seem to have gone, the very definition of the word could be up for discussion on  'Call My Bluff' in 20 years' time.

John

 

[duncan h]

One of my plans has a £44,000 fund value and will pay me £1000 A YEAR - stunning value for money!

Got to wait 'till I'm 60 for that cracker and then values could go up or down by then - imagine if they went down - I'd have to let the butler go. 

I have one at £64 k I think. £100 per month. How long do I have to live to get it back lol

[Dave Turley]

the good thing about window cleaning is that you can reduce your hours as you get older and keep the good paying jobs.i know  2 guys still cleaning in their 70s and they look fantastic for their age.they work part time now though.one of them has given half his round over to his son and has saved money all his working life and has a good nest egg.both of them go on holiday 4 or 5 times a year.

of course this is if your health  holds out.theres no guarantees though in this life im afraid.

woody allen says "retirement is for those that spend their whole working life doing something they hate!"

This is exactly my plan if my health holds out. Saved nowt yet tho lol