Following on from "What age will you retire"

[CJ]

Who has actually paid in to a pension, which will actually keep them?

So many pensions are not really worth the paper they are written on. I have a pitiful pension background, meaning when I have to retire, I'm knackered. So work will have to continue for as long as I can......or I'll be that old fart working part time in B&Q.

Self employment in any trade is difficult to pay regular amounts into any pension.

Whos well covered??

 

[Dougs Third Go]

same boat as you Col....in-laws house when they peg it will have to be my fund. Wife will have a decent pension though.

 

[CJ]

Same here Doug. Wife has a decent pension.
I have said to her more than once, if she leaves me.........I'll claim half her pension. :smilewinkgrin:

And her car.......as its in my name. :lol:

 

[Andy Allen]

I got one and have been paying into it since I was 18 and im 49 in a couple of weeks. ...

I can start drawing from it when I'm 55 or leave it in there....as for what I will get......haven't got a clue seems to go up and down like a yo yo..

If I had my time again I would of bought a couple of house's and rented them....but 30 years ago a pension plan was ment to be the way forward. ...if only we had a crystal ball.

 

[Aston]

if you want a pension and haven't got one, then set a plan/goal to have your own tile & bathroom shop in say 10 years. Even if you are 55 its still young, you could have it open for 65 and still be your own boss without the physical demands on the body. when you have had enough, stick a manager in charge a live off the profits.

its better than nothing and it gives you a bit of motivation for a brighter day?

 

[mike1979]

I'm in the process of buying a house to let it out in a area that's on the up hopefully that will be my pension

 

[Diggy]

I pay into a pension , known as a SIPP ( I buy and sell my own shares ) . Started to get it in order a little late , but its going to plan at the mo. Set my targets to hit and am not far away from them.

If you really want to sort it out , IMHO the BIGGEST thing you have to do is work out how much you want to retire on , from there it is just a case of doing a few simple calcs to find out what you need to save to hit your target.
A rule of thumb tip as a contribution amount is , half your age and use the result as a % of your earnings you should be putting away.

IE: If you're 20 lets say , half is 10% , so if you earn £400 a week you need to start putting away £40 a week , etc etc etc.

Cheers

Diggy

 

[widler]

Bricks and mortar are my pension cj, hopefully by the time I'm 50 I will have 6 or 7 renters ,HOPFULLY .
i borrowed on my mortgage 7 years ago, bought a house in France, did it up, sold it, earned sod all so bought a house over here, rented it, saved it up for a couple of years, bought another , saved both rents for a year bought another in 2013, saved it up, then went on holiday a few times last year but will have another this year and the prosssess will start again , it will hopefully give me a decent income when I retire in my early 50s ,but it also gives me disposable income now, even after paying all the mortgages and insurances ect on the houses

 

[CJ]

Bricks and mortar are my pension cj, hopefully by the time I'm 50 I will have 6 or 7 renters ,HOPFULLY .
i borrowed on my mortgage 7 years ago, bought a house in France, did it up, sold it, earned sod all so bought a house over here, rented it, saved it up for a couple of years, bought another , saved both rents for a year bought another in 2013, saved it up, then went on holiday a few times last year but will have another this year and the prosssess will start again , it will hopefully give me a decent income when I retire in my early 50s ,but it also gives me disposable income now, even after paying all the mortgages and insurances ect on the houses

I so so wish I had done the same, but my Mrs is a scare monger, and didn't want to "tie ourselves down with debt" as she put it. I kept trying to convince her you have to "speculate, to accumulate" but she just bottles it.

 

[Rookery]

I've been paying into a personal pension for over 30 years and paid off my mortgage a few years ago but doubt I'll have enough to live on. I'll just have to go back on the game :drool5:

 

[widler]

I so so wish I had done the same, but my Mrs is a scare monger, and didn't want to "tie ourselves down with debt" as she put it. I kept trying to convince her you have to "speculate, to accumulate" but she just bottles it.

My mrs likes spending money, so it appealed to her [emoji41][emoji33]

 

[Ajax123]

Firstly there's nowt wrong with being that old fart working in b and q.

I have paid into company schemes since I was in my twenties as a condition of employment. Some are better than others but none will be enough to live on when the time comes. I am working on other plans at the moment which involve land and putting my money in bricks and mortar now it's on the up. I don't tend to save much partly because there's not usually much left at the end of each month but I'm fortunate to have equity in my house.

Its td my kids I worry for. University debts of 40k before they even begin life.

 

[Aston]

Anyway, don't worry if you haven't paid into one, you might win the lottery on Saturday)
Failing that, you could be tiling into your late 90's like our TJ ;0)

 

[swanman]

live for today
and worry about tomorrow tomorrow
You don't no whats round the corner
come on lads chear up summers on its way