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The Retirement Thread

174 watchers
TROSaracen
TROSaracen
May 2022
7:42pm, 2 May 2022
25,331 posts
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TROSaracen
When you say ‘passed over’ do you mean you applied and got rejected?
arbster
arbster
May 2022
8:29pm, 2 May 2022
1,381 posts
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arbster
When you say ‘passed over’ do you mean you applied and got rejected?
Yes, indeed.
arbster
arbster
May 2022
2:31pm, 3 May 2022
1,382 posts
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arbster
One of the things I hear quite a lot when chatting to people about their finances is "I wish I'd known about this earlier". I'm sure many of us here have thought it too. A "retirement" thread is unlikely to be being read by people early in their financial journey, which is where the greatest impact can be made.

My Fetch forum skills aren't what they once were, but I wasn't able to find a general "financial" thread using the Search. Do people think there ought to be one, or is it only us oldies who like to talk about our financial wellbeing?
Ness
Ness
May 2022
2:36pm, 3 May 2022
21,275 posts
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Ness
I don’t know, arbster. I do know that I made plans for my pension way back when I was 25 at the start of my teaching career and am so glad because it made retirement at 55 doable.
um
um
May 2022
2:41pm, 3 May 2022
6,026 posts
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um
arbster - I suspect it's mainly 'oldies' who think about it.
I know pensions are a good thing, but (eg) in my 20's and 30's, the mortgage, car repairs, child & family costs all seemed a lot more urgent priorities for any cash. I was lucky to have a non-contributory DB pension in both my workplaces at the time.
In my second employment, I now very much regret not paying the extra 2.5% to get 1/40 instead of 1/60 though. In hindsight, I should have taken that like a shot.
I was probably into my 50s when I started adding AVCs (additional voluntary contributions), but also linked to the first pension, covering 11 years employment, and an amazing £14k GMP, collapsed overnight as the company reneged on it and closed it.
Sigh
Sigh
May 2022
2:41pm, 3 May 2022
13,649 posts
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Sigh
A Finance thread is a good idea, as it's a broad enough heading to cover lots of areas.

I've always been fairly aware of my Financial position, even if there are many times when I haven't been able to improve it - for example: "Would you like to pay into the company share scheme?" "I would, but right now I'm using all my spare money (and more) on paying for Childcare vouchers, thanks". etc...
Ally-C
Ally-C
May 2022
2:50pm, 3 May 2022
1,817 posts
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Ally-C
This being a huge thread & I’ve not got the time or inclination to read it all. What’s folk thoughts on how much a couple need to live on per month once retired?

I had this discussion with a pal the other day & he thought £3k.
Velociraptor
Velociraptor
May 2022
2:53pm, 3 May 2022
57,788 posts
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Velociraptor
Way back when I was writing for Pulse the journal had sections for GP trainees and young GPs. I asked if there would be interest in a section for old gits. "We have one, it's the money section," said the editor.
Velociraptor
Velociraptor
May 2022
2:54pm, 3 May 2022
57,789 posts
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Velociraptor
My parents manage to save money on well under £2k pcm, Ally. I'm working on around £2.5k net being more than enough.
Ally-C
Ally-C
May 2022
2:57pm, 3 May 2022
1,818 posts
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Ally-C
My parents manage to save money on well under £2k pcm, Ally. I'm working on around £2.5k net being more than enough.


Thanks for that.

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
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