The Retirement Thread
1 lurker |
176 watchers
27 Jun
12:44pm, 27 Jun 2024
2,944 posts
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Shades
Was the same for my DB pension, taking a cash sum triggered the pension payments.
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27 Jun
1:02pm, 27 Jun 2024
50,319 posts
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HappyG(rrr)
I took a lump sum out of one of my DC pots on my 55th birthday. They paid it in 8 days, just 5 working days. I was surprised how quickly it came. 2 lump payments that size and that's the mortgage done. 1 year. Then a year to build pensions and savings back up and... boom! Fingers crossed.  G
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27 Jun
1:17pm, 27 Jun 2024
12,641 posts
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cathrobinson
I paid our mortgage off two weeks ago. It’s all about saving now… 2 years 47 weeks (ish - not that I have a countdown app going or anything ) to go.
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27 Jun
1:20pm, 27 Jun 2024
2,946 posts
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Shades
@cathrobinson congratulations on being mortgage free. The savings will soon ramp up now you're free of mortgage debt.
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27 Jun
1:22pm, 27 Jun 2024
55,497 posts
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EvilPixie
Mortgage free is brilliant well done
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27 Jun
1:23pm, 27 Jun 2024
2,947 posts
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Shades
I had a small DC pension, I deliberately kept it away from other DC pots so I could access it quickly. So small that no need to have pension advice before cashing it in. Applied on line and cash in my account in a couple of days. Paid tax on 75% of it but tax refunded soon after.
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27 Jun
2:02pm, 27 Jun 2024
76,403 posts
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Lip Gloss
I might need advice again once my dad’s money comes through. I have a couple of things I want to do but the rest will hopefully have to last a while
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27 Jun
8:33pm, 27 Jun 2024
26,941 posts
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Bazoaxe
Mrs axe is 60 tomorrow and so we should have two lump sums and two small pensions commencing. This enables her to move to a new job, two days per week plus every second Saturday. Meanwhile my half day in a Friday for no loss of pay starts next week.
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27 Jun
8:43pm, 27 Jun 2024
11,312 posts
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Fields
Am thinking of moving to a 9 day fortnight. Same hours but an extra day off every 2 weeks. Will be useful perhaps if I need to visit my Dad more as he ages
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28 Jun
7:07am, 28 Jun 2024
2,953 posts
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Shades
Trying to get my head around a 9 day fortnight 😕 So you work 9 days every two weeks instead of your current 10 working days?
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Jigs 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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