classic33
Leg End Member
You got yer coat?
The Retirement Thread
- Thread starter Dirk
- Start date
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AlanW
Legendary Member
- Location
- Not to sure?
Has anyone used the governments free pension service, called Money Helper?
https://www.moneyhelper.org.uk/en/pensions-and-retirement
I'm retiring in May of this year and still not sure how best to approach the financials
https://www.moneyhelper.org.uk/en/pensions-and-retirement
I'm retiring in May of this year and still not sure how best to approach the financials
BoldonLad
Not part of the Elite
- Location
- South Tyneside
Has anyone used the governments free pension service, called Money Helper?
https://www.moneyhelper.org.uk/en/pensions-and-retirement
I'm retiring in May of this year and still not sure how best to approach the financials
Depending on to what degree you are "not sure", cutting it a bit fine, IMHO.
If you haven't already, you need to work our your likely income from whatever pensions you may be entitled to, and, work out a budgeted expenditure. Depending on how these two compare, you may be laughing, or, crying
AlanW
Legendary Member
- Location
- Not to sure?
I know exactly (well at this moment in time) what all my annual expenses are likely to be, I also know the current value of my pensions.
When I retire from my current role in May, it has been agreed that I can stay on and do some odd work as and when required as a zero-hour staff member.
So, in truth I didn't plan on touching any of my pension pot until next year, Feb 2024 when I will be 65. That said, I don't think I can manage on what I can earn as doing odd zero-hour work. Time will tell I guess but I suspect that I may need to reevaluate this later in the year!
Then in 2024 taking an income from the pension pot for a year and then enjoying the spoils of the state pension the following year, Feb 2025.
I guess it's the great unknown isn't it and I'm sure that everyone who is approaching retirement or has retired would agree with the burning question, how long am I going to live compared to the pot of money I have to spend?
Live like a Lord for ten years and live for twenty years....
Its such a huge step after working all of my life and by my own admission, I embarrassed to admit that I do like to spend money
When I retire from my current role in May, it has been agreed that I can stay on and do some odd work as and when required as a zero-hour staff member.
So, in truth I didn't plan on touching any of my pension pot until next year, Feb 2024 when I will be 65. That said, I don't think I can manage on what I can earn as doing odd zero-hour work. Time will tell I guess but I suspect that I may need to reevaluate this later in the year!
Then in 2024 taking an income from the pension pot for a year and then enjoying the spoils of the state pension the following year, Feb 2025.
I guess it's the great unknown isn't it and I'm sure that everyone who is approaching retirement or has retired would agree with the burning question, how long am I going to live compared to the pot of money I have to spend?
Live like a Lord for ten years and live for twenty years....
Its such a huge step after working all of my life and by my own admission, I embarrassed to admit that I do like to spend money
Last edited:
welsh dragon
Thanks but no thanks. I think I'll pass.
Pizza and fries today. 
pawl
Legendary Member
- Location
- Desford Leicestershire
I wasn't tempted to jump in the funny little boat!
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We’re is your sense of adventure? Dammed if I can get the smiles it he correct place
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Mo1959
Legendary Member
- Location
- Perthshire,Scotland
I’m not showing Molly this! 🐱
🐱
Pizza and fries today.
Ostrich burger and baby boiled for us
welsh dragon
Thanks but no thanks. I think I'll pass.
No thanks. I remember once when I was working In brum, they had an Austsalian day and they had kangaroo meat on the menu. Its looked god awful, a horrible gray colour.
No thanks. I remember once when I was working In brum, they had an Austsalian day and they had kangaroo meat on the menu. Its looked god awful, a horrible gray colour.
And the connection between kangaroo and Ostrich is what ?
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bobzmyunkle
Über Member
Forrin innit.
PaulSB
Squire
- Location
- Chorley, Lancashire
10/10 ✅️
- Location
- Somewhere wet & hilly in NW England.
Todays news
Still no smilies.
Been to Aldi. Decided to try some Ostrich burgers.....not cheap so hope they are good.
Blue bin has been emptied. Interesting as the guy opposite left a plastic bag full of stuff next to his bin......sure enough that is still there.......no chance of them taking that.
Clear cache, log out and log in again.
- Location
- Somewhere wet & hilly in NW England.
Has anyone used the governments free pension service, called Money Helper?
https://www.moneyhelper.org.uk/en/pensions-and-retirement
I'm retiring in May of this year and still not sure how best to approach the financials
Depending on to what degree you are "not sure", cutting it a bit fine, IMHO.
If you haven't already, you need to work our your likely income from whatever pensions you may be entitled to, and, work out a budgeted expenditure. Depending on how these two compare, you may be laughing, or, crying
I know exactly (well at this moment in time) what all my annual expenses are likely to be, I also know the current value of my pensions.
When I retire from my current role in May, it has been agreed that I can stay on and do some odd work as and when required as a zero-hour staff member.
So, in truth I didn't plan on touching any of my pension pot until next year, Feb 2024 when I will be 65. That said, I don't think I can manage on what I can earn as doing odd zero-hour work. Time will tell I guess but I suspect that I may need to reevaluate this later in the year!
Then in 2024 taking an income from the pension pot for a year and then enjoying the spoils of the state pension the following year, Feb 2025.
I guess it's the great unknown isn't it and I'm sure that everyone who is approaching retirement or has retired would agree with the burning question, how long am I going to live compared to the pot of money I have to spend?
Live like a Lord for ten years and live for twenty years....
Its such a huge step after working all of my life and by my own admission, I embarrassed to admit that I do like to spend money
If you want any further, more detailed help or advice, you can obviously ask away in this thread for Old Codger's responses or post in the Money sub-forum to a wider audience.
Lots of experience available to you in both places.
