Targeting 62 as my retirement age. Another 12/13 years to go. All being well, should have between 250-300k in my pot. Not great, but should be somewhat comfortable.
The rule to which I referred concerns IHT.OK. My dad signed his house over to his three children back in the 80s, so we are the legal owners. He died in 2001. One of the conditions in his will (or the transfer agreement) was that my mum and my sister could live in the house as long as they wanted or until they died, rent free. They are both still there. Does our arrangement predate the rule you refer to?
I know a billionaire. She has just retired aged 77. She carried on to that age because she was addicted to work (or possibly money). I'm sure she will have a comfortable retirement. Her house (a castle) is stunning.Retirement. The biggest con. Set up as some kind of lifelong aim by the powers that be. You will notice the rich and powerful do not aspire to "retire".
Work as little as possible, play as much as possible, stay as healthy as possible.
I wish I had the the statistics for the amount of people who die within two years of retirement, leaving more wealth than they have had at anytime in their lives, " not spent"
Retirement. The biggest con. Set up as some kind of lifelong aim by the powers that be. You will notice the rich and powerful do not aspire to "retire".
Work as little as possible, play as much as possible, stay as healthy as possible.
I wish I had the the statistics for the amount of people who die within two years of retirement, leaving more wealth than they have had at anytime in their lives, " not spent"
I know a billionaire. She has just retired aged 77. She carried on to that age because she was addicted to work (or possibly money). I'm sure she will have a comfortable retirement. Her house (a castle) is stunning.
I worked 40 years for the same utility company, 30 of those on a final salary scheme (defined benefits), ten on a defined contributions scheme. I transferred out last summer with a healthy pot, now invested following a recommendation from a fellow Bluemoon member.
My plan is to draw up to my personal allowance, supplemented by the interest free lump sum until it runs out. The growth in the fund should cover my drawings, so when I die, my sons will inherit the entire pot, plus any growth that has not been withdrawn by me. My wife will have a NHS pension of around £1k per month when she retires.
I took early retirement (redundancy) last summer, and have no intention of working again. I go for a run most days, have lost 4 stone in weight and feel as healthy as any time in the last 15 years. No mortgage, cars all paid for.
Once Covid is over, we will take the usual two holidays a year, plus a few short breaks and city breaks.
The tip about transferring the house to the kids when one of us dies is something I will definitely look into.
I can retire next August at 52, house to be paid off, wife is a lot younger so has years to do, daughter will only be 8. I don’t plan on doing much if it I do it will be for beer money, no intentions of tying myself down to anything. Hoping to by a VW van and o it up for camping trips for when the little one is on school holidays, if anything has sown me in lockdown is that in the 6 week holiday I will not be hanging round the house we will get out and about. I need to get my will done so that when one of us goes the daughter gets that half so they can’t take the house off the other one to cover care. Monthly I should be getting around £1100 and as I’ve paid the mortgage off I’ll be in exactly in the same position I am now without even getting out of bed! Need to get the wife in the promotion trail to get some more cash ;)
Strange isn't it? My old boss had a stent fitted at 48 and both his parents died from heart things before 50, both kids grown and successful, wife retired headteacher, property bought and paid for here and abroad, no debt, huge pension and still he works.Some people live to work
I work to live
Are you meant to still like them?Maybe lots of people can’t stand their partners.