The Retirement Thread

[Dave7]

A nothing kind of day for us. We are both recovering steadily though Mrs D is absolutely full of catarrh. I will be nipping to the library and maybe Aldi.....oooh isn't life exciting in the fast lane.
Plenty of footy to watch and a decent novel to read but I NEED some exercise

 

[welsh dragon]

I am not happy with risking money. I put £30K in Aviva for 5 years, low risk. It performed very well.

I always errr on the side of caution where money is concerned. The thought of Losing any is not something I want to contemplate.

 

[Dirk]

I never worry about money.
Just checked our state pension forecast and all looks well.
If two of us can't live comfortably on a total income of 30k a year with no debts and a tidy 6 figure sum in the bank, then something's amiss.
Can always sell the house and live in a park home if things get tight. That would release more capital than I would need for the rest of my life.

 

[gavroche]

I never worry about money.
Just checked our state pension forecast and all looks well.
If two of us can't live comfortably on a total income of 30k a year with no debts and a tidy 6 figure sum in the bank, then something's amiss.
Can always sell the house and live in a park home if things get tight. That would release more capital than I would need for the rest of my life.

If I was in your position, I wouldn't worry about money either.

 

[gavroche]

I always errr on the side of caution where money is concerned. The thought of Losing any is not something I want to contemplate.

I bought some share years ago and lost heavily on it so I promised myself never again. What I have, I keep even if interest rates are so negligible.

 

[Mart44]

Good morning - Not much is happening today.

I never worry about money.
Just checked our state pension forecast and all looks well.
If two of us can't live comfortably on a total income of 30k a year with no debts and a tidy 6 figure sum in the bank, then something's amiss.
Can always sell the house and live in a park home if things get tight. That would release more capital than I would need for the rest of my life.

We have recently released a lot of our money from investments and put in an ordinary bank account so we can just spend it when we want.

 

[numbnuts]

I took all my money out of my back pocket and put it in the right front one as it was easier to get out

 

[SpokeyDokey]

Plenty of protected year Bonds about at a tad over 2% - quick search brings this up:

https://moneyfacts.co.uk/savings-accounts/5-year-fixed-rate-bonds/

Our current average interest rates across our ISA's, Bonds and NS&I is 2.35%. All fully protected.

Unprotected is 3.72%.

Current ISA rates are pathetic although the Personal Savings Allowance reduces dependency on them to an extent ie by bringing Fixed Rate Bonds into the frame.

Also, don't forget the Starting Rate For Savings provision for those with low incomes - very handing for pensioner couples with low incomes and high savings. A lot of people do not seem to be aware of this.

https://www.gov.uk/apply-tax-free-interest-on-savings

https://www.moneyadviceservice.org.uk/en/articles/your-tax-rate

 

[oldwheels]

I looked at putting some savings into higher interest accounts but reading the small print I did not like what I saw and was not prepared to tie up the money for lengthy periods or possibly face a loss of capital and other restrictions.

 

[Dave7]

If I was in your position, I wouldn't worry about money either.

In some ways I agree with you but we often look back to 1968/9. Just married, new baby, a 2 up 2 down with a bog down the yard. I earned £15.00 a week. We had no money but equally no money to worry about.
Now, we own our house (4 bedrooms, 3 bathrooms) and have money in the bank. NOW......we have money to worry about

 

[Dave7]

Good morning - Not much is happening today.



We have recently released a lot of our money from investments and put in an ordinary bank account so we can just spend it when we want.

We have done similar.
When I retired aged 63 (10 years ago) we had a lump sum. I took free advice and invested 60K..... 30 in Aviva & 30 in a similar one. After the required 5 years we cashed them in put them in the bank.
Now, if only we new what the future holds.
One thing though..... if I/we want something, we buy it eg my new £1000 bike. And if we are cold we put the bl**dy heating on.

 

[classic33]

In some ways I agree with you but we often look back to 1968/9. Just married, new baby, a 2 up 2 down with a bog down the yard. I earned £15.00 a week. We had no money but equally no money to worry about.
Now, we own our house (4 bedrooms, 3 bathrooms) and have money in the bank. NOW......we have money to worry about

Can stop you having to worry about it, if that'll help?

 

[Dave7]

@PaulSB I keep meaning to ask you something.
When I and my mate were in Pollensa, just finishing a 44 miler, we called at a pub (the Red Rum). As we bagged our table a group os similar aged cyclists pilled in. All wearing the same gear.......cant recall the name but it was Chorley ??? CLUB.
As we all got talking one asked us "how many miles have you done"?....Expecting to be ridiculed I said "just 40, we are tryng to do 40ish each day".
The surprising reply was "blimey, you are real cyclists. Lucky if we get 15/20 in".
TBH, one of them nearly fell over tring to dismount......he literally could'nt get his leg over the saddle.
They are not all from Chorley but meet up as and when. Does it ring any bells ??
AND.....we were invited to join their club but tactfully declined

 

[Dave7]

Can stop you having to worry about it, if that'll help?

Really? Would you really do that for me? You are a nice, kind person. You may be from Yorkshire but you are ok in my eyes

 

[PaulSB]

@Dave7 I know well and regularly ride with all my club members of our age - say 60+. The description you give doesn't match any of them and as far as I know none have been to Pollensa.

I'll ask around as it could well be a group of friends etc. There are a couple of other places in the UK named Chorley.