Anyone planning on taking late retirement or is that just me?!
The way things are looking at the moment I reckon I'll be working right up to the morning of my funeral.
Reading these posts just proves the value of db schemes, you actually know what is coming. I have some db but have never actually worked out what it is worth. Reason being it is part of a diversified package - property, shares and the state pension being the rest.
For income seekers i follow the questor tips in the telegraph - currently yielding 5%.
Its good people are talking about it but keep enjoying today.
The way things are looking at the moment I reckon I’ll be working right up to the morning of my funeral.
Ditto. But it's not something that currently bothers me. I enjoy what I do; I work 110ish days a year and the work isn't particularly tiring unless I cock up. The travel is, though!
Having seen the deterioration in my parents and inlaws from retirement, I do think that staying in some kind of work is A Good Thing. Mind you, they all have DB pensions so no massive incentive to work.
keep enjoying today
Good advice. My friend was an FA years ago and the number of people he met who were obsessed with paying off mortgages etc. Trick is to find a balance.
My DB scheme earns at something like 2.32% per annum, but has recently been moved from 65 to NPA - currently 68. Completely expecting that to have been moved again before I get within range.
So I have a good chunk of DB kicking in at 65 and a smaller DC pension kicking in at 60 but I doubt either will be enough to retire on before the main pension at NPA
I have a big gap which I'm hoping to plug with the property sale / downsize. Problem is both boys will be at uni age in my mid 50's so I very much doubt I'll be using the cash to retire 🙁
I bought a lottery ticket...is that an investment strategy?
The easiest way would be inheritance! Others might achieve this by not completely retiring - if you can do some freelance type work remotely, especially on the bad weather days.
Are you serious?
Let’s say you want an income in perpetuity of £30k a year from the age of 55.
You will need a pension savings pot of about £1m!
Why would he need a living of 30k pa if he is spending his life pottering around on a yacht. if you dont have a mortgage or the other costs of modern materialistic lifestyles you can survive on a lot less (assuming anchoring rather than marinas most of the time, using the sails more than the engine, eating wisely etc).