Bender Posted January 9, 2019 Share Posted January 9, 2019 Thursday is my last day at work. Then I start my early retirement. I'm sure there will be plenty for you to do. Quote Link to comment Share on other sites More sharing options...
Slowlycatchymonkey Posted January 9, 2019 Share Posted January 9, 2019 [mention]JRH[/mention] I can’t think of a better celebration than the retirement one. Freedom freedom FREEDOM. IMO it’s the most pleasant adjustment anyone ever has to make.CONGRATULATIONS Quote Link to comment Share on other sites More sharing options...
JRH Posted January 9, 2019 Share Posted January 9, 2019 Thursday is my last day at work. Then I start my early retirement. I'm sure there will be plenty for you to do. Mrs JRH is preparing a list. Quote Link to comment Share on other sites More sharing options...
Slowlycatchymonkey Posted January 9, 2019 Share Posted January 9, 2019 Thursday is my last day at work. Then I start my early retirement. I'm sure there will be plenty for you to do. Mrs JRH is preparing a list. So your not retiring. You start your new job with Mrs JRH very soon Quote Link to comment Share on other sites More sharing options...
Bender Posted January 9, 2019 Share Posted January 9, 2019 Thursday is my last day at work. Then I start my early retirement. I'm sure there will be plenty for you to do. Mrs JRH is preparing a list. I bet it's extensive Quote Link to comment Share on other sites More sharing options...
mikestrivens Posted January 9, 2019 Share Posted January 9, 2019 I'm sure there will be plenty for you to do. Mrs JRH is preparing a list. I bet it's extensive And pays peanuts Quote Link to comment Share on other sites More sharing options...
runningman Posted January 10, 2019 Share Posted January 10, 2019 Not retiring, just a change of employer! Quote Link to comment Share on other sites More sharing options...
manxie49 Posted January 10, 2019 Share Posted January 10, 2019 [attachment=0]49064810_2026969387384580_1526443686374670336_n.jpg[/attachment] Thinking of retiring, look at this .... some tow rags have it made! Quote Link to comment Share on other sites More sharing options...
Cam93 Posted January 10, 2019 Share Posted January 10, 2019 Brought my first house at 22 (25 now) which I currently over over pay each month to avoid interest feesPlan on buying another before I’m 27 to rent out, from there I plan to have atleast 3 in my lifetime.Currently have a work pension which is puss poor but have a stocks and shares ISA that I pay 100pcm onto and get a return on quartly, then reinvest that back into the system.High interest ISA that I can have easy access too, think it’s only 3% but atleast I can access it if needed.Going to start a seperate pot for stocks and shares to manage myself, the ISA above is manage for me and they take 0.75% off profits so it’s no brainerI’d like to think it’ll all be worth it in a few years Quote Link to comment Share on other sites More sharing options...
old-timer Posted January 11, 2019 Share Posted January 11, 2019 Hi , what I would suggest to any younger person deciding on getting a mortgage is , get the best you can afford, get it over 30years repayment and forget about trying to pay it off fast, after 20years your payments will be a lot lower than now, enjoy that time and after 20years put more into a pension plan ready for retirement, I know its a millstone but you will then you will have the benefits I quess that our pension system in NL is probably not quite the same as your's in the UK.Though I see some similarities; at the age of 67 (used to be 65) anyone who lived in NL for 50 years receives a state pension.Regardless if he/she has worked and/or paid taxes. Even our former Queen (Beatrix) gets it. Those who have not been living here the full 50 years (like my wife who is originally from Finland) gets paid in proportion to their time in NL.Beside this state pension, those who have worked get a company pension, for which one has paid fees during one's working life.Many times companies pay an additional fee for this pension, or pay a percentage of the fee. This depends on company policy.Now another similarity I found is the fact that for some 'fake' reasons, company pensions never seem to pay out the amount of money justified by the fees that one has paid over the years. Many times due to stupid investments by pension-companies and/or excessive expenses one has to pay those pension-companies for their 'services'... ???And of course, the financial crisis of 2008-2014 did not help much, nor did the fact that very low interests incomes made pension-companies poorer as well. Now, the system that Spanner recommended to prepare for retirement worked for me... Kind of...Though I did not use the money only/strictly for my retirement pot, but also for other retirement related purposes...I bought a house at 31. Got a mortgage for 30 years, so the house would be paid off completely when I would be 61.But after 25 years - our 2 girls had long left home by then - we decided to sell the house and relocate.Now I don't know how the housing situation in the UK is, but we were lucky to find that in those 25 years the value of the house was 4 times the price we paid back then...Well I still had to pay 5 years worth of the original mortgage, and a small penalty for timely ending the contract, but that was 'peanuts'...In the city we moved to, we decided to rent a house, but since we were 'newcomers', we were not allowed a council house yet.So for about 5 years we had to rent in the so called 'private sector' at rents up to 2.5 times our monthly mortgage fee previously.We were aiming for a council house because I knew that at the end of the day my company pensions (plural) would not really make me rich.For reasons mentioned above about pension-companies, but also because I changed employers many times.And each new employer had pension contracts with another pension-company, which did not exactly help to make one solid pension pot. But fortunately, when we got our council house, we still had enough money for me to drop one day from my working week and work 4 days a week.The last 5 years of my working life, I even worked 3 days a week only... and still had savings left for my retirement...And at the end of the day it allowed me even to stop working all together 1.5 years before official pension age (65).The fact that I could afford to work less and less these last years and even have an early retirement, kept me sane.(Too) young pigheaded, cocky managers and tried and tested senior employees make a very bad mix on the working floor...So [mention]JRH[/mention] , I congratulate you with your retirement and wish you well.And 1 tip, if I may; make the first item of your bucket-list: "bin Mrs. JRH's list".I'm sure you'll be a happy full time Hogfather!And welcome to the club ! Quote Link to comment Share on other sites More sharing options...
Bianco2564 Posted February 17, 2019 Share Posted February 17, 2019 My Dad turns 80 next week, he received a letter from the government advising him his state pension will be going up...........by 25pence a week What a friggin insult and waste of time. Quote Link to comment Share on other sites More sharing options...
skyrider Posted February 17, 2019 Share Posted February 17, 2019 yes that is certainly a cheek Quote Link to comment Share on other sites More sharing options...
Slowlycatchymonkey Posted February 18, 2019 Share Posted February 18, 2019 I believe that is enough for a tin of value beans........ paarrrtaaay.... Quote Link to comment Share on other sites More sharing options...
ThePhatomfart Posted February 18, 2019 Share Posted February 18, 2019 Now I'm retired I'm in a quite comfortable position, not as well off as working ,but OK. One thing I would advise though is , if your partner was a stay at home to look after the family (as was the case years ago) then they will not receive a full pension, if they weren't signing on or paying their own stamp,the most you can pay retrospectively is 6 years, you can get a pension forecast by writing to the DWP, also if their pension is low then you can transfer their Tax allowance to your own , I do this as getting taxed on my Pensions , but the allowance does help, which I return to my wife to make her pension better, so Im still getting taxed at 20% which is better than the 40% I was getting when working Quote Link to comment Share on other sites More sharing options...
Stu Posted February 18, 2019 Share Posted February 18, 2019 [mention]MrPickwick[/mention] no need to write to them you can register online and check it Quote Link to comment Share on other sites More sharing options...
Guest Richzx6r Posted February 18, 2019 Share Posted February 18, 2019 This seems to be a topic that keeps cropping up in various threads.....so I thought I'd give it it's own one...... My retirement age went up to 66 a few years back.......but it's debatable whether I'll be able to afford to retire........which is a bit disappointing, considering I've always paid into the companies that I've worked for pension schemes.......and have a smallish free standing private pension. I pay the max into my current company's scheme......I put in 4% and they put in 8%........but when I look at my total pension pot it's pitifully small for over 40 years worth of contributions..... I also get very angry when I see the State pension being described as a benefit!.......I've never been out of work, and always paid my NI contributions......so, where has that money gone?Making people work longer is not opening up the job opportunities for the younger generations.......and the abolition of meaningful training and proper apprenticeships will leave severe skill shortages when some of my generation do actually get the retire or shuffle off. I read somewhere that the average age of engineers in this country is over 50..... A fair few of my colleagues who retired recently are back working on contract to cover the shortages......but at least the company has finally opened its eyes and started an apprenticeship scheme. ........However, last year they were looking at taking on 5 apprentices, only 2 applied, and only one of those actually took it on! And nearly all of the engineers we've taken on over the past couple of years are from Greece, Italy and Poland.....It seems that there's not enough younger people in this country with the qualifications or desire to do this job..... Anyway, what's your views on this? I know what you mean, last Feb I started working at the place my dad has worked for the last 22 years, I know I was taken on as an acrylic window repairer but I showed that I have fairly good skills manual turning,milling and jig boring and when I say fairly good skills I can manual turn easily to within a couple of tenths of a thou of the requisite size wanted but alas the company knowing that I am competent decided to get in some joker who was in his 50s who had never really done the job before though during the interview he said he was a fully qualified time served Turner......but every job he attempted he f*cked up, so I decided to hand in my notice and gave the director a few words of advice about the guy and he actually admitted he made a mistake and wished he had given me the job, so they gained a moron and lost someone who was young enough to be at the company for a long time so they shot themselves in the face at point black range Quote Link to comment Share on other sites More sharing options...
Bianco2564 Posted February 23, 2019 Share Posted February 23, 2019 Had a letter out of the blue from Legal and General tracking me down from a pension I had in my first job from 1980 to 87.Thought it had all been moved to my current provider, but here's hoping there's some money I didn't know about Quote Link to comment Share on other sites More sharing options...
gogs01 Posted February 24, 2019 Share Posted February 24, 2019 Had a letter out of the blue from Legal and General tracking me down from a pension I had in my first job from 1980 to 87.Thought it had all been moved to my current provider, but here's hoping there's some money I didn't know about A couple of months ago I got a letter saying I might be entitled to a pension from my service in the Royal Marines (1967 - 1976 !). I was pretty sure I wasn't entitled to anything, but filled in the application anyway (then forgot all about it).The latest letter tells me I'm entitled to a couple of thousand pounds a year (since my 60th birthday) plus a lump sum of several thousand pounds !Just as well I'm not looking for a new bike, but I can feel a few more continental trips coming on ..... Quote Link to comment Share on other sites More sharing options...
Bianco2564 Posted February 24, 2019 Share Posted February 24, 2019 Had a letter out of the blue from Legal and General tracking me down from a pension I had in my first job from 1980 to 87.Thought it had all been moved to my current provider, but here's hoping there's some money I didn't know about A couple of months ago I got a letter saying I might be entitled to a pension from my service in the Royal Marines (1967 - 1976 !). I was pretty sure I wasn't entitled to anything, but filled in the application anyway (then forgot all about it).The latest letter tells me I'm entitled to a couple of thousand pounds a year (since my 60th birthday) plus a lump sum of several thousand pounds !Just as well I'm not looking for a new bike, but I can feel a few more continental trips coming on ..... Nice surprise for you and glad to hear you are going to invest wisely Doubt mine would be anything like that, I worked in a small privately owned Datsun dealership ,was on £30 a week when I started in 80 and on £100 pw when i left in 87, cant imagine my contributions amounted to anything significant. Quote Link to comment Share on other sites More sharing options...
aciddrop Posted February 25, 2019 Share Posted February 25, 2019 I retired at 55 with a good company pension and a wheelbarrow full of redundancy money and I've never looked back Quote Link to comment Share on other sites More sharing options...
Bianco2564 Posted March 4, 2019 Share Posted March 4, 2019 So rang them up today expecting a couple of grand to be told I have a fund in the 10s of thousands of pounds Lesson to everyone, check out any long lost pensions you thought you had. Quote Link to comment Share on other sites More sharing options...
gaz Posted March 5, 2019 Share Posted March 5, 2019 Ive retired twice so far but women kinda made me work again On course for retirement at 55 so just need to keep my pants on for another 7 years Quote Link to comment Share on other sites More sharing options...
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