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What do you think about retirement and when will you do it?

Edie said:
I have insane envy of anyone who gets given or inherits money. I’ll have neither. Why can’t someone give me 50k ffs 😩

I’ve got a mate who- no word of a lie- inherited over 200k when his parents died. After inheritance tax and fees etc. I mean you’d be sorted wouldn’t you- there ya go kids there’s a house for you bought outright.

This is the kind of leg up I want my kids to have.
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I know I'm very lucky, not a chance I'd have got a house without this, even in the less desirable part of Manchester we live.

It was unexpected though. I assumed it would all be gone on care costs. We were actually about to do equity release for live in care for my Dad when it happened. :(
 
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We've never inherited anything, and, although it's possible insofar as my Dad and my in-laws own their own homes, we've never included it any financial planning; we always figured there's a good chance it would go on care fees (which we'd rather, if it gives loved ones quality of life). If we do inherit anything, it'd be beyond want we need for security and a comfortable lifestyle, so we'd pass it on to the kids to use as a deposit.

But I'd be quite happy if - amongst a number of profound changes to our system - IHT was 100% for anything over modestly valued movable property (because of sentimental value). Otherwise, inequality grows with every generation.
 
Edie said:
I have insane envy of anyone who gets given or inherits money. I’ll have neither. Why can’t someone give me 50k ffs 😩

I’ve got a mate who- no word of a lie- inherited over 200k when his parents died. After inheritance tax and fees etc. I mean you’d be sorted wouldn’t you- there ya go kids there’s a house for you bought outright.

This is the kind of leg up I want my kids to have.
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Not dissimilar to my SiL, the only child of 2 only children all of his grandparents lived long and healthy lives before leaving their grandson enough money to put an £80K deposit down on his house in his late 20's
He will be 40 next month and he, Eldest and the boys are now in a very comfortable position financially as a result of this one bit of luck.
 
Pickman's model said:
today i could happily walk out of my job and into retirement. if i didn't need to get another seven years ni stuff for the full state pension
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Suggest you have a look at/research retiring then registering as self employed, submitting accounts every year for 7 years and paying voluntary class 2 NICS (currently about £150/year) to build up your state pension credits for 7 years.

Massive Caveat - I'm not a financial adviser, accountant, etc etc. But I am self employed- partly and the class 2s I pay registered as such keep my state pension in play.
 
strung out said:
If we're talking inheritance and deceptive men, then I'll tell a story about something that's just happened to me.

When my dad was 16/17, his dad ran off with his 23 year old secretary, leaving my grandma to finish raising my dad and his younger sister.

My granddad married his secretary and spent most of the time between 1955 and 1995 taking his new wife away on fancy holidays and golfing trips, without ever really having much to do with his kids, who didn't even know he'd married the woman he ran off with.

It was only when my granddad had a stroke in 1995 that his wife got in touch for the first time to let us know what had happened, shortly before he passed away in 1996.

Anyway, we had occasional contact with his widow over the years as she was estranged from her own family, and she finallly passed away in December, at the age of 90, leaving her entire estate of £650,000 to my 83 year old dad and his 81 year old sister. My dad doesn't need the money, so he's decided to split his share with his five kids, and I'm now due to get a completely unexpected £50,000 windfall from some woman I barely knew. Anyway, that'll virtually all go into my pension, so I can take things slightly easier work wise over the next few years.

Completely unfair compared to those less fortunate, but as my dad said, at least it's something to make up for the fact that his mum never got over the divorce and severely fucked up him and his sister for a long time.
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I shall add that nothing was ever said to us re: what had happened way back when and the fact that our grandma and grandpa lived separately and we never saw them together (maybe at christenings and that, dunno, can't remember) was just how things were. I don't think anything ever clicked in my head over this because our mum's mother died years before any of us came along so we just had three grandparents who all occupied their own little boxed off spaces in our lives. Grandma died in, what, about 1994 and it was only then that we were told about "the other woman". I was 16 and had lived my entire childhood in blissful ignorance because nobody wanted to rock the boat, acknowledge feelings or front up to what had happened. Grandpa wasn't the only secretive one, there was tacit approval on all sides that nobody was to speak of it.

I never know how to contextualise all of this with my childhood experiences of my grandparents (who were all adorable old sticks and doted on their grandchildren and that was all that mattered to us I guess) and indeed my dad and aunt. I'm told dad would barely even discuss it with our mother so what chance us.

Anyway, I haven't a fucking clue what to do with all this money tbh. I need some new undies and my hair is long overdue a tidy up. Beyond that :confused::confused::confused:
 
dessiato said:
I have, I hate the boredom
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It’s not boredom ~ I’m looking forward to freedom of choice! I can leave and fuck you or I’m happy so I’ll stay or I’m unwell so thanks but I think I’ll go ~ whatever I choose there should ~ hopefully ~ be no more hoops to jump through! No yes here’s your pension but you can only have it if you sign for it every week otherwise we’ll sanction you.
 
JTG said:
I dunno, I've found the info about BTL landlords struggling to make any money off their foul activities quite cheering
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The big takeaway IMO is that all that shit you cause your landlord adds up quicker than you think, and while it might not directly help your own situation it helps systematically.

Tangential to the thread but here's a good tip for throwing a major spanner in a BTL's I've not seen mentioned:

Give them the absolute bare minimum notice that you're ending the tenancy, and if they ask when you're leaving the property give them the latest possible date at the end of the notice, even if it isn't true. This increases the void period between tenancies as well as increasing stress. Don't give them a free void period to do work in the property by telling them you'll be paying rent for 2 weeks when you won't be there. And don't help them get a head start on planning by giving them extra warning. It seems insignificant but not only are the maths on things like void periods, works, onboarding tenants and so on more stark than most of us are lead to believe but also it's about timing - suddenly your landlord has a lot of problems because they are a landlord and at the same time it's easier sell the place because selling it won't mean evicting anyone or doing viewings while there's someone else living in there
 
muscovyduck said:
The big takeaway IMO is that all that shit you cause your landlord adds up quicker than you think, and while it might not directly help your own situation it helps systematically.

Tangential to the thread but here's a good tip for throwing a major spanner in a BTL's I've not seen mentioned:

Give them the absolute bare minimum notice that you're ending the tenancy, and if they ask when you're leaving the property give them the latest possible date at the end of the notice, even if it isn't true. This increases the void period between tenancies as well as increasing stress. Don't give them a free void period to do work in the property by telling them you'll be paying rent for 2 weeks when you won't be there. And don't help them get a head start on planning by giving them extra warning. It seems insignificant but not only are the maths on things like void periods, works, onboarding tenants and so on more stark than most of us are lead to believe but also it's about timing - suddenly your landlord has a lot of problems because they are a landlord and at the same time it's easier sell the place because selling it won't mean evicting anyone or doing viewings while there's someone else living in there
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You can refuse access to any viewings during your tenancy too if you want (right to quiet enjoyment). Even if they give you 24 hours notice, there's nothing to say you have to let them in. They might argue that it's in your contract terms, but it's not actually enforceable. Also, you're perfectly entitled to change the locks, as long as you put the old locks back on at the end, and don't cause any monetary loss to the landlord. Any contract terms overriding this statutory right are also unenforceable.

The above could effect getting a good reference of course, but you might not care about that.
 
strung out said:
You can refuse access to any viewings during your tenancy too if you want (right to quiet enjoyment). Even if they give you 24 hours notice, there's nothing to say you have to let them in. They might argue that it's in your contract terms, but it's not actually enforceable. Also, you're perfectly entitled to change the locks, as long as you put the old locks back on at the end, and don't cause any monetary loss to the landlord. Any contract terms overriding this statutory right are also unenforceable.

The above could effect getting a good reference of course, but you might not care about that.
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Depends on the tenants relationship with the landlord, the house my son and his girlfriend bought, the tenants were moving out because they had come into some money and were buying their own so the landlord decided this was a good time to sell.
The tenants showed Son and Pollyanna round twice, he especially enjoyed the fact that the family moving out had two primary age kids. Children of that age go out of their way to point things out to anyone who will listen.
He only ever spoke to the actual owner over the phone.
 
MickiQ said:
Depends on the tenants relationship with the landlord, the house my son and his girlfriend bought, the tenants were moving out because they had come into some money and were buying their own so the landlord decided this was a good time to sell.
The tenants showed Son and Pollyanna round twice, he especially enjoyed the fact that the family moving out had two primary age kids. Children of that age go out of their way to point things out to anyone who will listen.
He only ever spoke to the actual owner over the phone.
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Sure, but my comment was meant as a way to make things as difficult as possible for the landlord in a completely legal way, as a way of discouraging landlording.
 
Griff said:
More or less retired now at 56. Haven't done a job type job since finishing a contract in the City in January 2021. Ten months WFH was enough of a wake-up call to step off the tread-mill.

Work a couple of days a month now doing film and telly extra stuff which is a bit of pocket-money, gets me out and about to all different locations and can be quite a laugh. :)
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How does the extra stuff work?
 
Sue said:
I'd retire tomorrow (there are plenty of more interesting things I could be doing with my time) but can't afford to. :(
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I could claim my work pension now (it can be claimed from the age of 55) but it would be about £8k a year which would be a struggle to live on Tbh - and I don't get a state pension for another 9 years afaik - ffs
 
izz said:
Splendid work that parent 👍👍
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My Generation Z'er is learning the hard way, she never thought much about money at all for the first 18-19 years of her life. But being away at Uni and having to manage her financial affairs has been as much a learning experience for her as her actual studying. Budgeting was a theoretical concept to her pre-Oct 2021 but she seems to have learnt quickly.
 
A380 said:
How does the extra stuff work?
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You register with a couple of agencies which takes around 20 minutes (measurements/photos/DBS cerificate) and they contact you with various jobs which you either accept or decline.
If you accept something, your details go to production and you may or may not get chosen (confirmed).

All the details get sent via email.

Like any agency work, if you're on time, don't fuck up and do a decent job then you'll get repeat jobs.

I've been on set with:

Richard E. Grant
Joaquin Phoenix
Peter Capaldi
Timothee Chalamet
Plan B :D
The cast of The Crown
Sir Ridley Scott
Danny Boyle

I prepared a detailed email for somebody on another forum recently who enquired about it. Let me know if you're interested and I'll send it onto you. :)
 
Griff said:
You register with a couple of agencies which takes around 20 minutes (measurements/photos/DBS cerificate) and they contact you with various jobs which you either accept or decline.
If you accept something, your details go to production and you may or may not get chosen (confirmed).

All the details get sent via email.

Like any agency work, if you're on time, don't fuck up and do a decent job then you'll get repeat jobs.

I've been on set with:

Richard E. Grant
Joaquin Phoenix
Peter Capaldi
Timothee Chalamet
Plan B :D
The cast of The Crown
Sir Ridley Scott
Danny Boyle

I prepared a detailed email for somebody on another forum recently who enquired about it. Let me know if you're interested and I'll send it onto you. :)
Click to expand...

Thanks and I would be interested in that email please.
 
Griff said:
You register with a couple of agencies which takes around 20 minutes (measurements/photos/DBS cerificate) and they contact you with various jobs which you either accept or decline.
If you accept something, your details go to production and you may or may not get chosen (confirmed).

All the details get sent via email.

Like any agency work, if you're on time, don't fuck up and do a decent job then you'll get repeat jobs.

I've been on set with:

Richard E. Grant
Joaquin Phoenix
Peter Capaldi
Timothee Chalamet
Plan B :D
The cast of The Crown
Sir Ridley Scott
Danny Boyle

I prepared a detailed email for somebody on another forum recently who enquired about it. Let me know if you're interested and I'll send it onto you. :)
Click to expand...
Me too please!
 
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