The Retirement Thread

[Bonefish Blues]

Financial Advisers?
One of my mates is a FA and he tried to give me advice.
I said - 'Why would I take advice off you, when we're the same age; I'm retiring early, debt free and comfortably off. You're still working, with a mortgage and loans. Go figure......as they say'.

Do you give financial advice?

 

[gavroche]

Like Jesus after a 3 day hangover, I have risen!

Had a lay in til 8 with the voluptuous Mrs D, then walked the dog. Going to the outlaws this afternoon.

Taking the Volvo then?

 

[welsh dragon]

I signed up for the gov gateway 4 or 5 years ago @Mo1959 . It's easy and only takes a couple of minutes.

I can pay 2 years NI to increase my pension by £37 A week or nearly £2000a year. It will def be worth it for me.

I have another 2 years before I retire unless they up the age yet again. I will def look at it again next year.

 

[Dirk]

Do you give financial advice?

No - but it ain't rocket science.

 

[Bonefish Blues]

No - but it ain't rocket science.

I know, but having someone 'check your workings' (for free) can't be a bad thing when you have some pretty chunky calls to make...

 

[Mo1959]

I signed up for the gov gateway 4 or 5 years ago @Mo1959 . It's easy and only takes a couple of minutes.

I can pay 2 years NI to increase my pension by £37 A week or nearly £2000a year. It will def be worth it for me.

I have another 2 years before I retire unless they up the age yet again. I will def look at it again next year.

Just done it. Looks like I am short by more than I thought. £140.76 per week as it is but £168.60 if I had full contributions. I can't see the bit where it says you can pay to increase it?

Found it. Looks like you have to phone them. I can see me not bothering. Lol.

 

[PaulSB]

I know, but having someone 'check your workings' (for free) can't be a bad thing when you have some pretty chunky calls to make...

I don't get mine for free, +/- £400pa, but I'm definitely with you on this one.

I worry about running out of money and take a lot of comfort from the projections, Sarah my IFA, provides. She's only been wrong once in 15/16 years.

 

[welsh dragon]

As Dirk says. Just look at yougi

Just done it. Looks like I am short by more than I thought. £140.76 per week as it is but £168.60 if I had full contributions. I can't see the bit where it says you can pay to increase it?

I think it was further down the page telling you how much you could get if you paid the extra. It won't tell you how much you have to pay just that you can pay say 2 years to make it up to....... each years costs around £733 at the moment, so it would be well worth it for you as well.

 

[Bonefish Blues]

I don't get mine for free, +/- £400pa, but I'm definitely with you on this one.

I worry about running out of money and take a lot of comfort from the projections, Sarah my IFA, provides. She's only been wrong once in 15/16 years.

Indeed - life was so much simpler when Annuities were the only game in town.

I'm assessing the merits of something that's usually anathema - cashing in a couple of DB Plans and going all-in down the SIPP route.

That's why Financial Advice

 

[welsh dragon]

The weather has gone downhill here. Blustery and raining.

 

[Dave7]

Yep, me too! I had a look at the Government website yesterday and see you have to register or something so I immediately lost interest

I am a bit like you tbh. I knew I would get a full pension but Mrs Ds was a low forcast.
Option 1 was a L/S that gave her 90% snd a 3 year payback......no brainer.
To get 100% pension the difference was amazing (cant recall the figures) so we went with option 1 and never regretted it.

 

[Dirk]

Just done it. Looks like I am short by more than I thought. £140.76 per week as it is but £168.60 if I had full contributions. I can't see the bit where it says you can pay to increase it?

Found it. Looks like you have to phone them. I can see me not bothering. Lol.

Don't take the figure in the big green box on the web page as gospel.
I thought that was how much I was going to get......until I talked to them directly.
They were very helpful.....when I eventually got through. Thankfully, it's a free call.

 

[Dave7]

It's well worth doing.
There's lots of other useful stuff on there as well.
If I couldn't be arsed to register, and do a bit of research, we might have ended up 2 grand a year down. That's a useful amount of money to miss out on.

@Mo1959
Edit......just read your next post.
Scrub this
Dirk is quite right.
I think you said you had 35 years in. According to what I googled that gives you 100% or near as dam.
Dont know if its still the same but I did it over the phone. I made the call, the lady did the calculations, I said "I will take that one", got a reference and sent the payment. Dead simple (but that was 11 years ago as MrsD got her pension aged 60)

 

[Dave7]

The latest Financial Man will be coming in a couple of weeks. Let's hope that he holds the key to future bliss*. A voluptuous wife would not go amiss, either

*Since the previous one seemed merely to want to enrich himself and his mate the Investment Manager...

Is that the previous financial man or the previous voluptuous wife ??

 

[Dave7]

Do you give financial advice?

I do sir, I do. And you can trust me, honestly you can. I mean, I'm a scouser, how much more trustworthy can you be.
So, if anyone wishes to give me their bank details I will put things in a good long term** investment (**make that very long term).