Retiring

[Uncle Wally One Ball]

This is the thing ... retire and do what? I have a pal who retired at 55. He does fuck all and at 58 is a boring old man now. Sits there feeling smug that he retired but basically is unhappy

I agree with this. I know plenty of blokes who retired that age and turned into miserable and prematurely old people. Not good for you

 

[route46]

I have made my living on Betfair for the past 15 years...

I am not classed as employed or self employed, I don't have to pay tax on my Betfair winnings and I neither pay NI, I don't claim any benefits....So in reality I am not sure what I am classed as.

Will I even get a state Pension when I hit 67?

Can I put into a private Pension?

 

[Uncle Wally One Ball]

I have made my living on Betfair for the past 15 years...

I am not classed as employed or self employed, I don't have to pay tax on my Betfair winnings and I neither pay NI, I don't claim any benefits....So in reality I am not sure what I am classed as.

Will I even get a state Pension when I hit 67?

Can I put into a private Pension?

Dont think you will get much of a state pension if you havent paid any stamp mate

 

[route46]

Dont think you will get much of a state pension if you havent paid any stamp mate

Paid about 8 years 16-24

 

[Kompany Car]

This is the thing ... retire and do what? I have a pal who retired at 55. He does fuck all and at 58 is a boring old man now. Sits there feeling smug that he retired but basically is unhappy

Agree completely, what the pension should do is allow you to fill your time with something you enjoy doing, rather than something you have to do just to pay the bills.
Do I want a stressful job in my 60s ? Definitely not.
Would I like to do some charity work or keep dabbling in what I currently do but as an associate for a few hours a week. Absolutely.

 

[denislawsbackheel]

Paid about 8 years 16-24

You’ll get nothing.
To get any of the new state pension you need 10 years full contributions of NI.

 

[denislawsbackheel]

Anyone who measures their life by work must be as dull as ditch water.
Since I retired up until covid I haven’t stopped travelling, going to theatre, opera, galleries, exhibitions, etc. I have had articles published in travel magazines. I now have the time to read, dabble a bit at painting badly and play golf twice a week.
I’m as busy as fuck.

 

[TheRemainsOfTheDave]

You’ll get nothing.
To get any of the new state pension you need 10 years full contributions of NI.

Definitely worth getting 2 more full years in to qualify for potentially £50 a week. @route46 go onto the gov.uk website to check your qualifying years, some of those very early years might not be full years.

 

[denislawsbackheel]

And don’t forget you can you only make up 6 years missing NI contributions.

 

[MaineDAWG2008]

on the topic of retiring. Have income protection with LV, well have had it for 2 years now. Wanted to ask others, if its worth it or not? 40 pounds a month, which will pay me 1500 a month till im 65. Im 42 now, and dont have much savings. So incase I break a leg or semi-retire due to uncontrollable circumstances, im guaranteed that income along with state benefits.