Retirement money

jal123 · April 13, 2016

Absolutely nothing, got a paltry mortgage that should be paid off in 10 years and that's it. between the pair of us we earn plenty to live our lifestyle comfortably now, not when I'm 60 or 70. Why am I going to sacrifice that for old age? Worst comes to the worst a flight to Switzerland wouldn't cost the earth.

It all comes from the generation where they could buy houses for a flim, that are now worth all kinds, work in a tobacco factory all their lives and have a boss pension. Times have changed.

jal123 · April 13, 2016

Bryan said:
Bit of import/export.

Any trips to South America planned?

ToffeeTim · April 13, 2016

I should probably be putting more than 7 quid a month into my pension tbh....

edge · April 13, 2016

two pensions . and a spare house/bit of land paid for already, more than likely die before i get there, heart attack brought on by Everton nailed on, happy days for the kids

silent bob · April 13, 2016

Been paying into private pension since mid 80s and have a couple of old work pensions waiting for me.
I suppose im lucky in that im mortgage free and through parents and grandparents now have money invested in stocks and shares and peer to peer lending so im looking to bring my eventual retirement date as close as possible.

Yorkie · April 13, 2016

Need every penny for a house at the mo so will think about it in a few years.

AdamEFC · April 13, 2016

Started my first proper job in September and I started paying into their pension scheme. However other than that I haven't really looked to save, just gonna enjoy myself for a year or two and then start saving for a house.

blueloon · April 13, 2016

Well I was lucky enough to have been in a pretty good Final Salary scheme which allowed me to buy extra years . Then that nice Gordon Brown changed the rules to let you take AVC's out as the tax free 25% of your pension , so that then became a no brainier. Not sure if it still applies but worth looking at if it does .

They're changing the ISa rules , Apr 2017 i think , that if you put in £4K they add £1k so you get 25% uplift . Think you have to be under 40 at start and can only use it to buy a house or for a pension when you're 60. So if you can afford to put £4K aside , you get £5k, stick it into a Stocks and Shares ISA and go for a Fund either a tracker fund or one that is run by a star fund manager and leave it alone for 20 years.

ArtetaMoney · April 13, 2016

Got 8 years left (40) to my military pension. I've also got a flat which should be paid off close to then or just after. Intend to rent that out to top it up.

I plan on working up until state pension age anyway. I'll get bored otherwise.

roydo · April 13, 2016

I plan on working up until state pension age anyway. I'll get bored otherwise.[/QUOTE]

Me too. Nice knowing in a few years I wont have to though.

Tree13 · April 13, 2016

Bruce Wayne said:
Really don't think there will be a state pension by the time I retire (~30 years at current retirement age).

I agree. Life expectancy has shot up over the last 40 years but the pension system hasn't been tweaked to keep pace. Unless contributions are increased, or retirement ages get raised, I don't see any way for the system to stay liquid.

In answer to the OP - I married a rich lass.