The Retirement Thread
- Thread starter Dirk
- Start date
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D
Deleted member 1258
Guest
I'm sure the lad said that that they do have one, we were talking on the phone yesterday afternoon I think he mentioned it.
PaulSB
Squire
@Mo1959 sorry forgot to respond to this yesterday. Can I urge you to get a pension forecast from the .gov website. You may find the result surprising either better or worse.
I have checked both mine and Mrs P's several times in the last 2/3 years. Mrs P's is lower than hoped for mine astonished me. Mrs P was contracted out via the NHS.
I would fully agree with @Dirk re buying additional years, it's a no brainer and we will do this for Mrs P. In her case to achieve her maximum pension the "investment" will take less than three years to pay back and after that she will be +/- £1600pa better off.
One tip, don't rush out and buy the extra years immediately. Wait till the last qualifying date as without being morbid one can die before reaching pension age. Obviously that wastes your money.
The .gov website will give you an entirely accurate forecast and how much extra you can buy. You may need to create an account first.
I have checked both mine and Mrs P's several times in the last 2/3 years. Mrs P's is lower than hoped for mine astonished me. Mrs P was contracted out via the NHS.
I would fully agree with @Dirk re buying additional years, it's a no brainer and we will do this for Mrs P. In her case to achieve her maximum pension the "investment" will take less than three years to pay back and after that she will be +/- £1600pa better off.
One tip, don't rush out and buy the extra years immediately. Wait till the last qualifying date as without being morbid one can die before reaching pension age. Obviously that wastes your money.
The .gov website will give you an entirely accurate forecast and how much extra you can buy. You may need to create an account first.
welsh dragon
Thanks but no thanks. I think I'll pass.
Mo1959
Legendary Member
I'm only short a matter of months so can't see it making much difference..........unless they can change it again?
Got a walk in and just about home before it started raining. I see there is athletics on tv this afternoon which I enjoy.
OP
OP
Dirk
If 6 Was 9
I'm buying the years that I qualify for up to 5th April this year.
It's costing about 3 grand but gives me an extra £1000 a year.
Capital outlay will be repayed after 3 years, then approx 33% interest on initial outlay in perpetuity (bearing in mind tax to be considered and increases in pension due to current triple lock). I'm going to take the extra £1000 pa and put it in a high (lol) interest account to get even more of a return on the initial capital outlay.
I'll be doing the same when MrsD gets her state pension in 2022.
This will build up the lump sums we've been drawing down on for the last 6 years.
Paulus
Started young, and still going.
Good morning all fellow members, the weather is not good and only going to get worse. This afternoon MrsP and myself are off to the Barbican theatre to see Anton De-beke and Erin doing their dance show. That is unless it gets cancelled because of the wind .
Even the trains are being cancelled now, we never cancelled trains, we may of run a bit slower but always ran. It's a bit like a centimetre of snow warning causes the country to grind to a halt , we have all gone so risk averse that soon we won't be able to walk outside without protective clothing. 😠
Even the trains are being cancelled now, we never cancelled trains, we may of run a bit slower but always ran. It's a bit like a centimetre of snow warning causes the country to grind to a halt , we have all gone so risk averse that soon we won't be able to walk outside without protective clothing. 😠
PaulSB
Squire
I'd still urge you to do the forecast but then I am a bit anal about these things.
Mrs P is more on the let's wait and see side!
Mo1959
Legendary Member
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
OP
OP
Dirk
If 6 Was 9
It's well worth doing.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
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.
Bonefish Blues
Banging donk
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...
*Since the previous one seemed merely to want to enrich himself and his mate the Investment Manager...
PaulSB
Squire
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
😂 😭
OP
OP
Dirk
If 6 Was 9
Financial Advisers?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...
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'.
