The Retirement Thread

176 watchers
EvilPixie
EvilPixie
Nov 2020
1:43pm, 23 Nov 2020
20,495 posts
  •  
  • 0
EvilPixie
ta
♪♫ Synge ♪♫
♪♫ Synge ♪♫
Nov 2020
3:32am, 24 Nov 2020
37,523 posts
  •  
  • 0
♪♫ Synge ♪♫
A competent IFA will de-risk any pension funds as you get nearer to retirement. The theory is that, if you are in your thirties, say, you may have more of an appetite for risk and so you might be prepared to accept a larger fall in value of your fund as you seek larger gains, but, in the last five or ten years before you retire, a larger fall in value is likely to be less palatable to you as your portfolio is less likely to make the loss back up again before you retire.

A percentage of most funds would be invested in property, also in shares, but I think an increasing proportion would be invested in bonds and fixed rate products as you get nearer retirement.

It must be really tough for anyone who has had a fixed retirement date and who has had to start drawing on a DC pension in 2020. At least drawdown options mean you don’t have to commit it all to buying an annuity like you used to.
Looby Loo
Looby Loo
Nov 2020
6:02am, 24 Nov 2020
538 posts
  •  
  • 0
Looby Loo
One point to note is that if you leave early you may not qualify for full state pension.

I’ve “only” contributed for 30 plus years and won’t have enough. I can pay a lump sum to qualify.
FenlandRunner
FenlandRunner
Nov 2020
7:17am, 24 Nov 2020
5,387 posts
  •  
  • 0
FenlandRunner
I've already hit max contributions. Not sure if that is :) or :(
Rosehip
Rosehip
Nov 2020
7:20am, 24 Nov 2020
18,674 posts
  •  
  • 0
Rosehip
you only need 35 years, LL - did you not get credits for any of the missing years?
(full time education 16-19, child benefit, carer responsibilities and JSA all give credits)
♪♫ Synge ♪♫
♪♫ Synge ♪♫
Nov 2020
7:20am, 24 Nov 2020
37,525 posts
  •  
  • 0
♪♫ Synge ♪♫
Really good point, Looby Loo - it’s really worth checking before you get near a planned retirement date. You can check online and get an instant answer.
EvilPixie
EvilPixie
Nov 2020
7:34am, 24 Nov 2020
20,506 posts
  •  
  • 0
EvilPixie
depressingly due to age my state retirement is 2040!
EvilPixie
EvilPixie
Nov 2020
7:45am, 24 Nov 2020
20,507 posts
  •  
  • 0
EvilPixie
trying to work out how many years min I have to pay in
started work in Sept 91

1 child
think there was maybe 2 months in 97 that I wasn't getting paid
FenlandRunner
FenlandRunner
Nov 2020
7:47am, 24 Nov 2020
5,388 posts
  •  
  • 0
FenlandRunner
EP, you should cross the line in late-2026?
Fragile Do Not Bend
Fragile Do Not Bend
Nov 2020
7:48am, 24 Nov 2020
7,316 posts
  •  
  • 0
Fragile Do Not Bend
Also not worth topping up state pension contributions until just before you start claiming it in case circumstances change and you end up doing part time work, claim carer’s allowance etc in the intervening years.

About This Thread

Maintained by Sigh
A place for baggy spaciousness: "The quality of time, soft attention and ease that we could enjoy 'doing nothing' "
(thanks to TheScribbler for the term (p1516)!)
( see also: neilthewriter.co.uk
and
darkangelswriters.com )

Retirees Hall of Fame
star Jigs star (25.09.24)
Synge (30.08.24)
Silvershadow (02.08.24)
Hibeedeb (02.08.24)
Winniefree (08.07.24, 2nd attempt)
EvilPixie (24.06.24)
Snail (21.06.24)
GregP (14.06.24) (after part retirement 31.03.23)
Fizz :-) (13.06.24)
Jaks (15.05.24) (third time of retiring)
HellsBells (31.03.24) (orig. May 2018)
TROSaracen (07.02.24)(semi retired since mid 2019)
Hanneke (01.02.24)
Jenni-far-far (28.12.23)
FergusG (22.12.23)
Mrs Jigs (Luverlylegs) (11.12.23)
eL Bee! (30.11.23)
Lip Gloss (22.11.23)
jda (28.08.23)
RFJ (23.08.23)
Sigh (28.07.23)
Schnecke (end of school term 07.23)
Sharkie (05.07.23)
Ally-C (08.06.23)
Rebel (12.05.23)
CogNoscensme AHA (07.04.23)
Windsor Wool (05.04.23)
Bob! (30.03.23)
Velociraptor (21.03.23)
Garfield (provisional, 27.02.23) (see p.699)
ThorntonRunner (20.12.22)
MaltDrinker (30.07.21)
DoricQuine (15.06.21)
Mandymoo (21.05.21)
Eynsham Red (06.05.21)
GimmeMedals (31.08.20)
Steve NordRunner (01.08.19)
um (May 2017)
macca 53 (31.10.17)
XB (07.07.16)
Flatlander (November 2011)
Helegant
Ness
SarahWoo
Rosehip
alpenrose
Johnny Blaze
annadav
K5 Gus
Curly45
LazyDaisy
Dave..M
jabberknit
Shades
Northern Exile
Nick Cook

[other names to follow, on request]

In the Waiting Lounge, with one eye on the door

Roobarb (20.12.2024)
dobbers (target: Dec 2024)

Marmite (01.01.25)
3M (05.01.25)
McGoohan (15.01.25)
westmoors (31.03.25 confirmed)
Dillthedog (target: 30 April 2025)
Bazoaxe (June 2025)
B Rubble (June 2025)
geordiegirl (target: July 2025)
GeneHunt59 (target: July 2025)
RRR-CAZ (September 2025)
MadWelshWoman (target: November 2025)
Bigleggy (target: December 2025)
HappyG (target: end of 2025 at the earliest)

Runningbauble21 (target: June 2026)
cathrobinson (target: 2026 onwards)
OverTheHillToo (target: approx. 2026)

Diogenes (17.03.27)

Hills of Death (HOD) (April 2026-April 2030)
Gromit (July 2030)
CK2 (2030)

[other names to follow, on request]

Just browsing at the moment

Daz Love
Totriornottotri
DIY Diva

[other names to follow, on request]

Retirement Failures

Currently empty :-)

[other names to follow, on request]

Useful Links

FE accepts no responsibility for external links. Or anything, really.

Related Threads

  • age
  • finances
  • lifeadmin
  • support
  • work









Back To Top

Tag A User

To tag a user, start typing their name here:
X

Free training & racing tools for runners, cyclists, swimmers & walkers.

Fetcheveryone lets you analyse your training, find races, plot routes, chat in our forum, get advice, play games - and more! Nothing is behind a paywall, and it'll stay that way thanks to our awesome community!
Get Started
Click here to join 113,350 Fetchies!
Already a Fetchie? Sign in here