Coincidences.

[Rusty view]

Jethro Tull was the first band I ever saw live in 1969 and that opened up a whole new world to me. It's good to see the salmon farming highland laird from Blackpool still going strong.



Briefly, as NYB says, assume you'll live another 20 years after retirement. You'll get 5% of your pot per year, so multiply your required annual required income by 20 and that's what you'll need. So, for £20k, that's a pot of £400k.

I'm only relatively young (37) but have been taking a look recently to make sure I'm paying enough in. My work provide me with a tool whereby I can play around with different scenarios. However I did try and use the new Aviva tool (which is being advertised at the moment) IT's really easy to use and you can play around with contributions, different lump sums etc. and get a good feel for what you may get at retirement age and/ or how early you may be able to retire.

 

[Bert]

Jethro Tull was the first band I ever saw live in 1969 and that opened up a whole new world to me. It's good to see the salmon farming highland laird from Blackpool still going strong.



Briefly, as NYB says, assume you'll live another 20 years after retirement. You'll get 5% of your pot per year, so multiply your required annual required income by 20 and that's what you'll need. So, for £20k, that's a pot of £400k.

What calculation do you use in your 21st year of retirement ?

 

[Northyorksblade]

I'm only relatively young (37) but have been taking a look recently to make sure I'm paying enough in. My work provide me with a tool whereby I can play around with different scenarios. However I did try and use the new Aviva tool (which is being advertised at the moment) IT's really easy to use and you can play around with contributions, different lump sums etc. and get a good feel for what you may get at retirement age and/ or how early you may be able to retire.

Well done for looking ahead. It's ok to live for today, but to end up at 69, or whatever pension age is, when you eventually retire, with just the state pension and no savings is a but foolhardy. In mho of course.

 

[Northyorksblade]

What calculation do you use in your 21st year of retirement ?

You hope that you haven't spent all your pot and anyway by then you aren't exactly going to be out raving every night. It's all pretty much guess work isn't it? Been to a funeral of a friend this week, aged 62 and my mum was 93 when she died. Who knows?

 

[Rusty view]

Well done for looking ahead. It's ok to live for today, but to end up at 69, or whatever pension age is, when you eventually retire, with just the state pension and no savings is a but foolhardy. In mho of course.

I'm chucking as much in as possible. Luckily my employee allows me to change my contribution on line really easily. Usually increase contributions when I get a pay rise. I want to be able to retire and enjoy retirement, and not have to worry too much about turning the Central Heating on (for example)

 

[Mad Mick]

Trouble is, the income goes down too!

Mines gone up

 

[Mad Mick]

Serious question Northyorks, what would be a reasonable'pot' to have if retiring at 65?

A pension pot of £500k today would give you a yearly income of around £20K per year before tax if you buy an annuity. They are very poor value at the moment I'm afraid.
Depending on your age you may not get your state pension until 66 or even later. You can assume in today's value about £7,500 a year.

 

[Trigger Blade]

You hope that you haven't spent all your pot and anyway by then you aren't exactly going to be out raving every night. It's all pretty much guess work isn't it? Been to a funeral of a friend this week, aged 62 and my mum was 93 when she died. Who knows?

I think His Bertship was being a bit facetios there, he knows the answer.

Anyway, just in case and to ensure I don't get past 85, I shall ramp up the alcohol intake and take to smoking Capstan Full Strength

 

[Northyorksblade]

Mines gone up

Lucky you, you obviously planned ahead well.

 

[Deleted member 875]

I've had 15 years of making pension contributions now. I think with my basic contributions and additional voluntary contributions that I've made for quite a while, I should be able to retire and live very comfortably before the age of 60.

Since becoming debt free for the first time in 20 years a few months ago, I've also been throwing money in to an ISA and have got a nice little nest egg building up as a rainy day fund.

My plan is to retire early and have a lot of money put by in savings accounts to fund the things I want to do like watch Sheffield United through the winter, Yorkshire CCC through the summer, do an Test on an England cricket tour once a year and then be able to live comfortably on what I have left over

 

[Bert]

I've had 15 years of making pension contributions now. I think with my basic contributions and additional voluntary contributions that I've made for quite a while, I should be able to retire and live very comfortably before the age of 60.

Since becoming debt free for the first time in 20 years a few months ago, I've also been throwing money in to an ISA and have got a nice little nest egg building up as a rainy day fund.

My plan is to retire early and have a lot of money put by in savings accounts to fund the things I want to do like watch Sheffield United through the winter, Yorkshire CCC through the summer, do an Test on an England cricket tour once a year and then be able to live comfortably on what I have left over

Bert's financial tip of the day.

Avoid marriage .

 

[Northyorksblade]

I think His Bertship was being a bit facetios there, he knows the answer.

Anyway, just in case and to ensure I don't get past 85, I shall ramp up the alcohol intake and take to smoking Capstan Full Strength

Are you sure he wasn't just trying to be a smart arse?

 

[Northyorksblade]

Bert's financial tip of the day.

Avoid marriage .

Not necessarily. I should imagine it's divorce that does the damage.

 

[raul]

Looks nothing like djbaldken

It does if you close your eyes.

 

[Jesus_was_a_Blade]

Well this thread has f*****g depressed me!

I would say it makes you want to top yourself, but with the cost of funerals nowadays I couldn't even afford to do that...

 

[Trigger Blade]

Are you sure he wasn't just trying to be a smart arse?

I couldn't possibly comment, although facetiousness is very often next to smartarse-ness

My plan is to retire early and have a lot of money put by in savings accounts to fund the things I want to do like watch Sheffield United through the winter, Yorkshire CCC through the summer, do an Test on an England cricket tour once a year and then be able to live comfortably on what I have left over

You've cut and pasted that from the NYB guide to how to survive retirement and it's not far off my own plan, although I'll be implementing mine imminently. NYB will sort out tickets for the cricket if you ask nicely

 

[coolhandluke]

Sweet fucking jesus .

Mr Wilders obviously doing something right at the Lane . We are now discussing retirement plans on a Blades site .

Bring back Madkins for fuck sake I want the passion back

 

[BushBlade]

Sweet fucking jesus .

Mr Wilders obviously doing something right at the Lane . We are now discussing retirement plans on a Blades site .

Bring back Madkins for fuck sake I want the passion back

Once I retire I'll probably rent out my Room for Improvement for some additional income. Should do OK as it's the biggest room in my house.

 

[Mad Mick]

Lucky you, you obviously planned ahead well.

I'm a retired IFA and sold the business. If I cant plan nobody can.
Had a lot of luck in life as well. Right place right time etc.

 

[Northyorksblade]

I'm a retired IFA and sold the business. If I cant plan nobody can.
Had a lot of luck in life as well. Right place right time etc.

The harder you work, the luckier you get, to coin a phrase. Of course if I had worked in the public sector..........but we do ok

 

[GrayBlade]

Assuming you don't hate whatever your chosen vocation in life is, I think the key to a happy retirement is to keep on working now and again, but when you want to and on your terms. It keeps you in touch with the real world and not the waiting for God crowd. I'm an electronic/ IT engineer and still get a buzz out of fixing things.

It also keeps you from under her feet and (in my best Brian the Blade voice), believe you and me, once the 'honeymoon period' of initial retirement grace is over and you've played a few rounds of golf and drowned a few maggots, the weekly to-do list will appear and you'll be doing jobs you don't enjoy.

Once you get to the stage that you're noticing (and feeling slightly peeved) that your next door neighbours are over-filling their bins and the bin men STILL take them away, and think that a run out to Meadow-Hell might be a good thing, it's time to re-engage those brains lads and do a bit of what you know best now and again. It's good for you and it's probably even better for your our owd lass.

 

[Trigger Blade]

I'm an electronic/ IT engineer and still get a buzz out of fixing things.

Stand on a rubber mat

 

[coolhandluke]

Once I retire I'll probably rent out my Room for Improvement for some additional income. Should do OK as it's the biggest room in my house.

Rent it art to Madkins and get that fire back in thi belly

In fact , that could be another retirement plan right there . Rent the room to Madkins , murder the fooker , and spend your retirement at Her Majesties Pleasure . Sorted

 

[BushBlade]

Rent it art to Madkins and get that fire back in thi belly

In fact , that could be another retirement plan right there . Rent the room to Madkins , murder the fooker , and spend your retirement at Her Majesties Pleasure . Sorted

That's a bit harsh CHL. Can't I put Curran's caravan in the garden (with Adkins' geese) and top him instead?

 

[bornablade]

The harder you work, the luckier you get, to coin a phrase. Of course if I had worked in the public sector..........but we do ok

Thanks for all the info NYB.

The quote ' the harder you work the luckier you get' should read 'the smarter you work the luckier you get.'

I know a lot of people who have worked bloody hard and never quite made it. There are others who have grafted but in a much smarter way. Good decisions at the right time, surrounding yourself with the right people etc etc.

 

[djbaldken]

Do follicly challenged players of music for public consumption retire at a similar age to the rest of us, or is it like footballers, who can take their pensions at 35?

This follically challenged player of music for public consumption has retired from his main job at a similar age to the rest of you. He is still doing a little djing from time to time to keep himself active. If he had taken his royal burtness s advice further on in this thread he would have been able to fully retire much earlier. Was trigger at the jethro tull thick as a brick concert at Sheffield city hall in 1969? If so I was also there.

 

[djbaldken]

On the subject of pensions. I hope you all end up with a better administration than the teachers pension.
My pension was suspended at the end of August because unknowingly I failed to fill in an online form and send it to them. As soon as I realised I had to do this I sent off the required form and was told by them my pension would be reinstated within 7 to ten day. By mid October I still had not received any pension.After several phone calls all to different operators I was told the suspension had been lifted and I would receive all back money on 1st November. On 1st November nothing arrived. Yet another call to yet another operator found me getting profound apologies and assurances that a supervisor would make sure the pension would be paid by noon the next day and an email would be sent to me confirming this had happened. Guess what? Nothing of the kind happened. So another call to another operator (vivaldi s four seasons was becoming tiresome by this time). This time I was informed that because it is a back payment it has to be 'authorised' and consequently would not now be paid until the 8th of November!!! I asked to speak to some one in authority but was told no one was available but some one will call me back within 48 hours. I'm still waiting for this call.
I 've now been without any source of income for the third month!!! Maybe I should die. It would cause them less inconvenience. I was going to put this in the twats thread . Cause that's what I think of them.

 

[Snowman]

You hope that you haven't spent all your pot and anyway by then you aren't exactly going to be out raving every night. It's all pretty much guess work isn't it? Been to a funeral of a friend this week, aged 62 and my mum was 93 when she died. Who knows?

I'm 62 and my mum is 93!!!!! FFS stop with this sort of stuff. It freetens me

 

[Snowman]

This follically challenged player of music for public consumption has retired from his main job at a similar age to the rest of you. He is still doing a little djing from time to time to keep himself active. If he had taken his royal burtness s advice further on in this thread he would have been able to fully retire much earlier. Was trigger at the jethro tull thick as a brick concert at Sheffield city hall in 1969? If so I was also there.

As was I. This was the tour supported by Savoy Brown and Terry Reid. I regret to say that after all these years there are few rock/blues guitarists who could match the solo that Kim Simmonds did that night on that tour. That was, some 47 years later still a memory I cherish and maybe only beaten by Jimmy Page and Terry Kath in that era.

 

[djbaldken]

As was I. This was the tour supported by Savoy Brown and Terry Reid. I regret to say that after all these years there are few rock/blues guitarists who could match the solo that Kim Simmonds did that night on that tour. That was, some 47 years later still a memory I cherish and maybe only beaten by Jimmy Page and Terry Kath in that era.

I must admit Snowman that I dont recall who the support happened to be. But Savoy Brown does ring a bell somewhere. My memory is of members of Jethro Tull all wearing the same white (flashers type) macs as the road crew and mingling with them as they were setting up on stage. And then suddenly divesting the macs and starting the concert. I do remember Ian Anderson being something to behold playing his flute standing on one leg. I know I went out and bought Thick as a Brick the next day. Still have it and play it often.