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May 2022
12:26pm, 11 May 2022
27,210 posts
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Johnny Blaze
My dear old ma and pa didn't leave me a cent but I seem to have a desire to leave my kids "something" instead of spending all my cash on drugs, booze and trips to the dogs. I don't know why this is.
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May 2022
12:27pm, 11 May 2022
13,895 posts
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Sigh
I don't think our daughter is planning on greasing the stairs anytime soon  , but her future is undecided at 14; and I don't want to make financial decisions now that would effectively deny her a large chunk of inheritance later (assuming I haven't spent it all).
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May 2022
12:41pm, 11 May 2022
8,830 posts
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Northern Exile
I guess it's all very subjective. My sister in law and her husband are terrible with money and make no secret of the fact that they are dependent on inheritance from my wife's parents to pay off their mortgage. A few years back I gently suggested that this might be a flawed financial strategy and they got properly batey.
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May 2022
12:45pm, 11 May 2022
2,448 posts
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Flatlander
My parents were from an older generation and when they died they had too little for a will so only a couple of thousand pounds made their way to me.
Due to having to work long hours for several decades and making sensible financial choices I have enough savings and pension income to be secure. However, I have no family so no-one to leave anything to - my will is going to leave my estate to several charities.
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May 2022
12:47pm, 11 May 2022
135,198 posts
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GregP
Like that post from TRO at the bottom of the last page.
We're childless - lifestyle choice, although not an entirely conscious one - which possibly skews my view.
My parents weren't at all weathly but had enough. My dad left enough for me to clear some debts and to set up a holiday pot which covers our annual trip to Center Parcs, which is a nice reminder.
Sue's mum (her day died in 2018) is on the good side of comfortable with a big house. Absolutely with TRO about any money we might get when she passes.
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May 2022
12:50pm, 11 May 2022
42,293 posts
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HappyG(rrr)
68 by 2037 is state pension age, I just found out! I'm 67 in 2036, which year will I get my state pension?
Just got annual letter from Fidelity with one of my pensions saying "You are due to retire in 2 years..." Lol. Roflmao. Etc. Think I'd better get that date changed with them. Probably what I thought in my 20s when I set it up!
I'll be working until I'm 68, no doubt. Colleagues around me who have worked in same sector but stayed at one company and paid into company pensions all their lives are retiring. Oh well. Choices and all that! G
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May 2022
12:51pm, 11 May 2022
42,294 posts
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HappyG(rrr)
Still can't track down a pension from 1995 - 1998. Used all the services, contacted companies, and HMRC for info. Nothing. Oh well, only £20,000- £40,000 missing! G
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May 2022
1:24pm, 11 May 2022
1,856 posts
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Ally-C
My auld man was at pains in later life to tell me he was leaving half of his house in his will to my sister and I when he passed & eventually his wife.
Subsequently she did equity release, so that’s taken a hit, I’m pretty non plussed tbh, as we never had much of a relationship anyway. That’s life I suppose😂
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May 2022
1:34pm, 11 May 2022
25,358 posts
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TROSaracen
Think i'd be changing my user name to UNHappyG(rrr) if I had a £20k+ pension pot go AWOL....
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May 2022
2:08pm, 11 May 2022
1,400 posts
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arbster
68 by 2037 is state pension age, I just found out! I'm 67 in 2036, which year will I get my state pension?
You'll get it at age 67.
Just got annual letter from Fidelity with one of my pensions saying "You are due to retire in 2 years..." Lol. Roflmao. Etc. Think I'd better get that date changed with them. Probably what I thought in my 20s when I set it up!
You might like to check whether any "lifestyling" has been applied to your investments. This is a slightly outdated approach to investment which caused them to gradually reduce your exposure to equities and increase bonds over the years prior to retirement, in preparation for spending it all on an annuity on your retirement date. Most people don't do this any more, but pension providers insist on "de-risking" portfolios anyway. This means people often end up with a 30-40 year retirement and investments with pathetic returns, and thus run out of money unnecessarily. As you're not retiring for 10+ years you should consider more equities to grow your pot. For one of my pots I have my retirement age set at 89 (the maximum) because they can't disable "lifestyling".
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Marmite 