Retiring

Blue Maverick said:
I love how you jump on people if they dare suggest people should take responsibility for their own lives, look what has happened when the government started letting people on the benefits pay their own rent, plenty defaulted pissing it up the wall then the poor landlord then has to fight to evict them, it’s no wonder no DHSS is stated in so many rental properties. Maybe we should pop round and wipe their arses every time they have a shit just in case!
The question was if a ‘responsible’ adult you know someone who can control their own spending etc, wanted to opt out or indeed pay more to retire early why couldn’t they.
You carry on fighting the fight for these wasters and I will call them for what they are fucking leeches.
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@Blue Maverick
The other problem with your NIC contributions idea is that the money that is taken from you is used immediately. None of it is invested
 
I'm hoping I can retire in about 5 years. I'll have done 45 years then in the Public Service and I'll be about 62.
I got divorced and walked away in 2012. No real money behind me so I rent now.
I'll quite happily get a part time job then if needs be, as I couldn't cope with nothing to do.
I'll see how it pans out.
 
Tommy_Catons_Perm said:
You would find it extremely difficult to get a return better than the state pension. Especially if you are not well paid and claim the state pension for a long time.

For example there are plenty of women in their nineties who retired at age 60. Say £8,000 a year pension for 30 odd years and it's a quarter of a million quid. I doubt NI contributions over 40 years working life come anywhere near that. And how many poorly paid 60 year olds have that much cash saved up? And state pension is index linked

Also you not well off on state pension alone. So you need to save half a million quid in a DC pension.

Very crude calc not accounting for inflation, tax etc.
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My Dad retired in December 1991, so he is just short of 30 years taking his state pension. He currently gets £900 per month. I keep telling him that he is a burden on the nation, and needs to give up his pension!!!
 
cyberblue said:
Sorry to hear about your dad
That's why I would recommend as soon as you can afford to retire do so
I managed to do so at 60 .
Been on a few cruises .Spend loads of time in the sun at my Holliday home
No stress now have plenty of time to do SFA .
Ive never had a pot to piss in but what I got I manage ok
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This post fills me with hope.
 
The way the state pension operates is just another way to put down ordinary people .
Women can no longer get it aged 60 & Men no longer get it at 65
The age people get it keeps creeping up
Everyone should get the same amount as wether it is £599 or £720 a month it still a pittance to live on
Just seen in the news MPs can claim heating bills as many are now "working" from home during the pandemic .Bless them they really need it
 
I just don’t get why some think they will be bored when they retire and need to either keep on working or get a little part time job? You should never be bored. There is always something to see or do if you put your mind to it. If I could afford to retire financially I would do it now and I am 56! No prospect unfortunately. Each to his or her own I suppose!
 
blue for life said:
I just don’t get why some think they will be bored when they retire and need to either keep on working or get a little part time job? You should never be bored. There is always something to see or do if you put your mind to it. If I could afford to retire financially I would do it now and I am 56! No prospect unfortunately. Each to his or her own I suppose!
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I retired at when I was just over 60 never been bored for a minute
Been catching up doing things, going places, visiting people I couldn't do when I was working
There is absolutely so many things to do & loads of places to visit which doesn't have to cost much
Now I have no stress or worries
I would recommend early retirement to anyone who can afford to do so
 
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