The Retirement Thread
4 lurkers |
175 watchers
May 2022
10:43pm, 20 May 2022
61,922 posts
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Lip Gloss
Think I’m just scared I run out of money …but what’s the worst that could happen - just need to find a little job.
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May 2022
5:30am, 21 May 2022
14,197 posts
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Sigh
Think I’m just scared I run out of money …but what’s the worst that could happen - just need to find a little job. My in-laws suffered badly with endowment mortgages; it cost them a fortune every month while working, and only just covered the house when they finally retired. They did some equity release on their house (not sure how much), they've been getting by on that plus state pension for about 17 years now. |
May 2022
7:09am, 21 May 2022
135,584 posts
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GregP
Bottom of last page. Thanks Chris - was going to contact you direct for the comment you’ve just made anyway. Here’s an odd thing. My retirement is much easier because of ‘similar people’ who have just done it. I’m fortunate for a second time. When my father died I was working with a mate who’s dad had gone six months previously. Having someone who knew the logistics reallly helped. |
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May 2022
7:10am, 21 May 2022
135,585 posts
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GregP
As an aside, bereavement on telly and the cinema is about grief and mourning. In the real world it’s about form filling and logistics. You can do the grieving thing six months later once you’ve finished the paperwork.
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May 2022
7:20am, 21 May 2022
69,982 posts
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Diogenes
Excellent comment, Grep. The logistics are pretty straightforward forward, a number of mundane tasks to be completed. The grieving takes much longer and is a thing with no fixed or visible form.
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May 2022
7:35am, 21 May 2022
14,458 posts
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Mandymoo
It was a year ago today I left work - gone so quick and the best decision I have ever made. Did all the sums about taking pensions early etc and as you say there was very little in it so we just went for it. We have always said if we run out of money we have the house to fall back on - and life is for living while we are fit and able to do so. The spending will slow down the older we get |
May 2022
8:28am, 21 May 2022
27,279 posts
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Johnny Blaze
Enjoy yourself, it's later than you think Enjoy yourself, while you're still in the pink The years go by, as quickly as you wink Enjoy yourself, enjoy yourself, it's later than you think |
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May 2022
8:43am, 21 May 2022
27,280 posts
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Johnny Blaze
I oscillate between, "At this rate of spend I will run out of cash when I'm 80" and "Cobblers to it, the kids can make their own way in the world: I'm off to Italy."
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May 2022
9:05am, 21 May 2022
21,758 posts
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Ness
No children for me to have to take into consideration so I'm taking the "spend it and enjoy it while I still can approach"!
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May 2022
9:22am, 21 May 2022
22,735 posts
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GimmeMedals
Lip Gloss I occasionally suffer from the worry about running out of money, despite us both having a reasonable monthly income and some savings. I've not touched the pension lump sum I got nearly 2 years ago. I am more careful with money than I used to be and try to stick to the budget I set, but tbh, as long as we are not reckless, we should be fine to carry on having a holiday most months and the occasional meal out for many years to come. I think the rise in the cost of living is what has made me a bit nervous now we are on a much lower income, but we can still afford to save money most months so it's not as and as I thought it might be. |
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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