The Retirement Thread
177 watchers
Nov 2023
6:15pm, 27 Nov 2023
66,535 posts
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Velociraptor
With interest rates as they are it's not a bad time to have a cash lump sum to deposit, LG 
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Nov 2023
6:24pm, 27 Nov 2023
72,432 posts
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Lip Gloss
That’s what I was thinking. Will need to shop around
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Nov 2023
6:15am, 28 Nov 2023
6,345 posts
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quimby
I keep getting letters from one of my pension providers about my pension entering "lifestyling" and I keep ignoring them because I have no idea. I need to knuckle down and read something, I guess. I don't know whether this is because I fancifully set my desired retirement age to 55 about 15 years ago? I am fairly sure I revised the age in the last year or so, having reached that age and realised I probably can't afford to retire yet 🤣
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Nov 2023
6:41am, 28 Nov 2023
1,299 posts
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Shades
quimby I think that means keeping your funds at the safer end of risk as you get nearer your specified retirement age. One of my pension providers called it 'glidepath'. If you log on you should be able to see how your current fund is being invested and you can change it to whatever level of risk you choose. |
Nov 2023
6:50am, 28 Nov 2023
27,226 posts
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TROSaracen
As quimby says. It’s worth noting that this is the strategy for when you buy an annuity - the idea being you remove volatility in the final years to avoid the risk that the point you buy the annuity you are not in one of the ‘down’ periods. If you intend to drawdown from the pot rather than buy an annuity you may be better in the higher returns space as this will give you more from your funds while you trickle out your 4%pa or whatever you are taking |
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Nov 2023
6:57am, 28 Nov 2023
6,346 posts
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quimby
I think my main problem is that I have no idea about buying annuities or drawing down from pots so I can't make an informed decision. If I'm honest I don't want to deal with it, but I have to do something at some point, otherwise I'll just end up working until I die because I don't know if I can afford to retire.
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Nov 2023
7:03am, 28 Nov 2023
39,868 posts
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Mrs Jigs (Luverlylegs)
Penultimate payday 🥳
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Nov 2023
7:08am, 28 Nov 2023
12,436 posts
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Jef
Penultimate payday 🥳 🤗 |
Nov 2023
7:23am, 28 Nov 2023
17,827 posts
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Mandymoo
Very nice Mrs Jigs not long now Not long at all for eLbee now either |
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Nov 2023
7:53am, 28 Nov 2023
72,441 posts
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Lip Gloss
Penultimate payday 🥳 Ooh thats exciting. quimby I was the same and even yesterday i still needed my FA to look at papers before I get 'paid' on Friday. I just needed someone to tell me I could afford still to take roughly the same pay monthly from my pension that I was getting while working. |
McGoohan Useful Links
FE accepts no responsibility for external links. Or anything, really.- Money Helper
- How Much is Enough to Retire On?
- Retirement Living Standards
- How much will you need to retire?
- Free Govt website for pension advice
- SIPP pensions
- ISAs
- Check your National Insurance contributions
- Check your state pension account
- Martin Lewis on pensions
- Support and advice for those widowed under the age of 50
- Power of Attorney information
- Making the most of your retirement
- 20 tips for a happy retirement
- Married Couple's Allowance
- Aviva guide to retirement planning
- U3A
- U3A Local Sites - map
- Make a Power of Attorney
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