Money talk- retirement

Indeed. I spent about a decade of my youth studying. Whilst it was what I wanted to do and taught me a thing or two, in hindsight it was a delightful decade that is now showing up as a non- earning one. In the same way, 6 years as a homemaker was probably the most meaningful job I have ever done, but again it's six years with zero income.

Life does throw us about, and while most things can't be evaluated in dollars, in the end one does need adequate amount of them to avoid a bad situation and stress about it. Our circumstances and choices do catch up with us at some point.

I have lived a wonderful life and wish to continue to do so. Oh, and I have recently joined national lottery on direct debit

Great idea, I'll start earning 100k and that's me sorted! Thanks Shiney!

Thanks @clanless , this is so helpful. House is now a priority.

I have already taken the first steps to have a life outside of work circles, and will make a conscious effort to teach myself to do more of that.

 

I never really worked with a company that had a pesion scheme until the last few years when it became compulsory for companies to provide one.
Having said that and without going into very confusing detail I started my own annuity as they called it then back in the 80s.

But back in those days various government kept changing the rules and I never really got to pay into one scheme for more than a few years before they changed all the rules again and I had to change things again.
It really wasn't worth bothering because they have now used it against me in reducing my state pension by the amount they said I could get from my private pension and I'm paying tax on that, small as it is.

So I would say, unless you can afford to put loads of money into a private pension or are lucky enough to have a company that contributes to your pension don't bother.

Save the money and invest it somewhere, because if the government know you have it when you retire they will see it as a way of saving them having to pay you.
And you will get £700 a month at todays prices from all your contributions.

 

secret santa lol how much did you spend on that ... over the years I had a pair of underpants (dont ask) wine , books , trowel , dibber ... lol

 

We had a small office so we spent £25 a head. Add to that birthday buns, sponsorship all those things, it all counts.