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It doesn’t matter my point is yes it’s good to plan but not if it’s going to take so much of you’re income you will really miss out during your working life I’ve seen it a lot and heard the conversations,I was listening to someone that works for Iverde all he was going on about was his pension I’m getting a works pension blah blah basically not far off what he earns now as he’s worked for the council with the old regulations. What he failed to mention was that he’s spent the last 30 odd years earning crap money and can’t wait get to 65 before he’ll have some,I personally can’t think of anything worse going short for decades before you can afford a few decent pleasures.
Quote from: Stoots on January 03, 2022, 04:06:12 pmi think i could survive on the state pension easy. By that time no mortgage so not many bills and stomachs shrink as we get older so could probably manage on a pot noodle a day.Dream on Our state pension is one , if not the lowest in Europe and much of the world.About £700 each 4 weeks.Pensions are a rip off.I have a stakeholder pension taken out because of the 20% tax relief but you can only take 25% tax free the other 75% is taxable.And it's not a simple matter of just taking 25% cash you have to purchase another fund (with associated costs) with the remaining 75%.Annuities to give you a regular income from it are at an all time low I know people who have lost thousands.Since 2008/ 2009 financial "crisis" we have been screwed big time with all the money going to the top 5%.
i think i could survive on the state pension easy. By that time no mortgage so not many bills and stomachs shrink as we get older so could probably manage on a pot noodle a day.
Quote from: Granny on January 04, 2022, 07:54:07 amQuote from: Stoots on January 03, 2022, 04:06:12 pmi think i could survive on the state pension easy. By that time no mortgage so not many bills and stomachs shrink as we get older so could probably manage on a pot noodle a day.Dream on Our state pension is one , if not the lowest in Europe and much of the world.About £700 each 4 weeks.Pensions are a rip off.I have a stakeholder pension taken out because of the 20% tax relief but you can only take 25% tax free the other 75% is taxable.And it's not a simple matter of just taking 25% cash you have to purchase another fund (with associated costs) with the remaining 75%.Annuities to give you a regular income from it are at an all time low I know people who have lost thousands.Since 2008/ 2009 financial "crisis" we have been screwed big time with all the money going to the top 5%.£700 isnt that bad.if theres 2 of you, thats £1400. no mortgage so whats maybe 500 quid of bills.Ive lived on the dole and benfits and minimum wage for years scraping by, i guess when youve done that you dont really fear being poor.
I should have around £250k by the time I'm 70 which is not a bad little nest egg….
Quote from: dazmond on January 04, 2022, 07:48:31 pmI should have around £250k by the time I'm 70 which is not a bad little nest egg….It could be a lot more than that Daz if only you invested it somewhere that will be beating inflation over the long term.
Another bloke I know 🤣 he’s a pension and investment adviser he said to me do you know the first question I get and it drives me mad and infuriates me,I want to be able to leave it to my kids. He can’t get his head round that one he says why can’t they go to work then when they grow up 🤣🤣🤣
Quote from: deeege on January 04, 2022, 08:20:36 pmQuote from: dazmond on January 04, 2022, 07:48:31 pmI should have around £250k by the time I'm 70 which is not a bad little nest egg….It could be a lot more than that Daz if only you invested it somewhere that will be beating inflation over the long term.Truoble is if you have cash in the bank you are actually losing money when you take inflation into account. This has been the case for years and likely will continue for years to come.
I should have around £250k by the time I'm 70 which is not a bad little nest egg then I'll just go to 2 days a week window cleaning for 10 months a year if I'm alive and healthy!Of course there's no guarantees but I'd hate to get into my mid 70s and be skint!