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Retirement

One thing that has become apparent to me after a fairly prolonged and serious illness, which I am still recovering from (but doing well this last few months), is don't always just plan for tomorrow, cos you might not make it that far. I was brought up to save from an early age and have a Sun Life plan that matures when I am 65, my Mother got me to start it when I was 17, so it will run 49 years - hopefully :) Over the years we've managed to save more than our friends and family appear to have done.

So I have reassessed our retirement plans, I'm 53 in a few weeks and Mrs AA is 49, my intention is for us to enjoy a decent quality of life while we are still fit-ish and able, hence trying to work out a way to even up the draw down of the pension pot, I'd planned for us to retire when we each get to 60, but I now hope we can both retire earlier than that, with a lesser income but comfortable, I doubt it will happen because we still have some debt including a mortgage, but we will see, maybe taking part time jobs will be one way.

I've been getting the house in order over the last couple of years, trying to make sure no big unexpected bills will come, well as much as you can, white goods/plumbing/electric- Solar/insulation/windows & doors - flood protected; the boiler & heating system is marked for this year, then a full going over of the roof and exterior wind/watertight next.

Finding a decent Financial Advice source is definitely worthwhile, there is much more flexibility about how and when you can take your pension nowadays and tax planning can save a bunch depending on circumstance, splitting allowances and so forth.

I find this a useful site and subscribe to their newsletter

https://www.moneysavingexpert.com/
 
hifinut - Thank you, back in March/April I was in an induced coma, had an operation in May, which went extremely well, kinda changes your views on a few things :)

OT on this thread, but the way the NHS staff looked after me, I was in and out a lot over a couple years, I do not have an adequate way to express my gratitude and admiration, until you see it 1st hand you do not appreciate the dedication and the crap they have to deal with, they were fantastic with us
 
Darth Vader said:
We have gained over 20% since the June 2016 referendum so that a 'free' Orangery.
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DV, why do you always feel the need to brag about how much your investments have increased by? It is unnecessary. Anyone who has held equity based investments would have likely increased their value by a similar amount!

It would have been better to just have left the post like this:

That is we don't take any regular income from our savings, investments and SIPP just a wad of cash now and then when we want to spend and in the most tax efficient way. In the meantime our money is growing.
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At last, I thought it was just little me that noticed this from the off, but it is ok as they are mostly leftfield.


Bloss
 
I love the idea of retiring, but I'm too young / not wealthy enough. The pot I'd need would have to be vast. And we have kids, pets (but fortunately no debt). Maybe in ten years' time....?
 
NeilR said:
Anyone who has held equity based investments would have likely increased their value by a similar amount!
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I'm getting hassled by Fisher Investments - they tell me their investment growth recently is around 19% after fees but as you originally said this is quite typical over the last year or so. All they want to do is tie me into their high fee structure with exit penalties. So many sharks around....
 
I have enough in my pension pot to retire comfortably at the moment, but I am enjoying my work and have some potentially lucrative stock options so will delay for a couple of years. It keeps me out of the pub!
 
clivem2 said:
I'm getting hassled by Fisher Investments - they tell me their investment growth recently is around 19% after fees but as you originally said this is quite typical over the last year or so. All they want to do is tie me into their high fee structure with exit penalties. So many sharks around....
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Hmm, any financial company that actively contacts people chasing for business should be considered as disreputable, IMO.

I am quite often contacted directly via linked in by financial companies with fancy names who want to help me transfer my pension out of the UK. Of course, they say they will be saving me lots of tax, but the real reason they want to do it is to earn high commission fees. They can take a running jump far as I am concerned.
 
NeilR said:
Hmm, any financial company that actively contacts people chasing for business should be considered as disreputable, IMO.

I am quite often contacted directly via linked in by financial companies with fancy names who want to help me transfer my pension out of the UK. Of course, they say they will be saving me lots of tax, but the real reason they want to do it is to earn high commission fees. They can take a running jump far as I am concerned.
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Anybody who puts their money with a company who cold called deserves to be ripped of and almost certainly will be.
 
clivem2 said:
I'm getting hassled by Fisher Investments - they tell me their investment growth recently is around 19% after fees but as you originally said this is quite typical over the last year or so. All they want to do is tie me into their high fee structure with exit penalties. So many sharks around....
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I suspect they are liars...
 
Cav said:
I suspect they are liars...
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I certainly don't trust them. They didn't exactly cold call me, I downloaded a document of theirs and had to leave behind my email address. A friend has invested with them and is happy but I see them as just one level better that St Jame's Place; which is not good at all. I've no need to to take risks as I am in process of retiring on the same money as I used to earn so I can't complain - unless the markets crash and remain low for a few years.
 
did you hear about all the people scammed into buying investments in things like truffle trees !!

In 2013, the Herefordshire couple transferred more than £78,000 to a man called Alan Barratt, after he told them they could get a better return on their investment.

They were assured the funds would be invested in low-risk investments. However, they were then sent details of a firm producing so-called truffle trees in the West Country.

Typically such providers inoculate oak trees with truffle fungi, with the promise of producing truffles within seven years.

http://www.bbc.co.uk/news/business-42802951
 
Just did a quick Google on Fisher Investments.

"Pushy", "Nosebleed Fees", and "Won't stop bothering me", seem to be recurring themes.
 
NeilR said:
Hmm, any financial company that actively contacts people chasing for business should be considered as disreputable, IMO.

I am quite often contacted directly via linked in by financial companies with fancy names who want to help me transfer my pension out of the UK. Of course, they say they will be saving me lots of tax, but the real reason they want to do it is to earn high commission fees. They can take a running jump far as I am concerned.
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I used to get rung up a lot from the USA, in the apparent belief that patent attorneys have money coming out of both ears (in reality, very few of us do, and certainly none of us who work in industry). The conversation would usually go something like this:

Hi, Jaan [taking my first name from the EPO professional representatives list] , this is X from Y, ah guess you've heard of us.
Er, your guess is totally incorrect.
Well, Jaan, we're here to help you grow your staak portfolio.
I don't have a staak portfolio. I don't even have a stock portfolio. And if I had, I wouldn't let you anywhere near it!

Perhaps I've scared them all off - haven't had one for quite a while. They have been replaced by cold calls from Indian search services. They're easy - as soon as I hear the accent, I put the phone down.
 
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