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Retirement

Darlo1973 said:
I've been made redundant twice and both times it has worked out for the best. When a firm starts cutting people then it's usually a sign of bad times ahead so it can be better to be one of the first out of the door rather with a decent package than the last when there is no money left.

First redundancy hit me hard as it was my first proper post-university job. With the second one I was dancing out of the building.

Current plan is to keep my nose clean at work and hope for a juicy redundancy in around 5 years.
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Exactly same for me . First one was a shock but walked into another job on same money and had a nice lumper in my bank.
Second time around I had the business set up and was wondering how I was going to manage both . Decision was took out of my hands and a big chunk of cash came with it .
Blessed
 

Scares the shit out of me, retirement , I am a bit embarrassed to say.
Love going to work love the crack , work nights out , generally helping people. Makes me feel valued. I am also a bit of a routine merchant as well.

My evenings and weekends are as full as I like them to be , with enough time in there to relax and wind down.

I do understand when people say you should have enough time retired to “enjoy” it , but what about people who really enjoy their work. I literally walk into work singing 😀
 
Will e said:
My eldest daughter got the same today anarl, she's just a younger lass like, 160 out of 230 to go in her section in Sunderland, or something similar, fortunately for her she has no commitments, lad on her team was in tears, just bought a new house poor sod.
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got a feeling I know who the employer is. Absolute shit show.
 
Fletch said:
Ffs amounts reported on this mornings news has shot up
60k for a couples comfy retirement 😮

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Take that with a pinch of salt mate. I haven’t had chance to read the article but I suspect it relates to how much you need to put away in a DC scheme taking into consideration the current issues.
 
Fletch said:
Ffs amounts reported on this mornings news has shot up
60k for a couples comfy retirement 😮

You must be logged on to see external links
Click to expand...
I posted on here last June with big ideas of retiring back in the UK and work part time for beer tokens at 55, although I still could do that, I noticed when home at Christmas for a month, the cost of living is shite. I'm on second thoughts now, perhaps I'll just rent my place out, live off the rent sent over to Vietnam, have a decent lifestyle here with that, then when hit dithering old fool age, come back UK, downsize and put out to pasture till toes up.
 
Fletch said:
Ffs amounts reported on this mornings news has shot up
60k for a couples comfy retirement 😮

You must be logged on to see external links
Click to expand...
Wonder who could possibly benefit by people putting that much extra money away into pensions? Not the 1300 pension funds they represent shirley?
I read the article but not the PLSA breakdown sometimes they have figures in there which are nuts.
There'll be single people on here still working and not going without earning a lot less than £31300. That's £2300/ month as a pension canny that, well it would be tremendous for me but everyone has their own 'number' 👍
 
Darlo1973 said:
I've been made redundant twice and both times it has worked out for the best. When a firm starts cutting people then it's usually a sign of bad times ahead so it can be better to be one of the first out of the door rather with a decent package than the last when there is no money left.

First redundancy hit me hard as it was my first proper post-university job. With the second one I was dancing out of the building.

Current plan is to keep my nose clean at work and hope for a juicy redundancy in around 5 years.
Click to expand...
The place I was working at went through a number of voluntary redundancy phases and restructures. If I had took it, I would have left with 14 months wages tax free. I bit of belt tightening I could have not worked for 18-20 months and not worried. The restructure merged 3 jobs into mine for no extra pay and 2 years later I left to move somewhere where I could actually get something done. Did my standard 3 months notice and that was that.

About 2 weeks after resigning, they announced another round of voluntary redundancy on the same terms as earlier and anyone due to leave anyway was exempt.

Not taking it when it was first offered will go down as a regret. It was during the pandemic but the job market was just starting to move again. I suspect I could have got something in my field within 6 months. If I had wanted to keep money coming in, I could have done a bit of Tesco delivery for a while. Ironically that might have had a more negative impact on my CV than not working!
 
FatCat2402 said:
Probably written by a load of wankers who have shares in a load of private pension providers. £31k for a single person seems a little excessive.... there'll be plenty not earning that now whilst in full time employment
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My parents on retiring, had 1 overseas holiday, did weekends away and lived comfortably, on a lot less than a single person's current estimate. Once my Dad passed, my Mum doesn't do the holiday's other than an organized bus excursions the biddy's love, obviously not out and about as much, she's hardly spending anything at 75yo, gives most away to grandkids and she's not on massive lumper, just a few bob and the state pension. I think you spend the most in the early retirement stages obviously, after that it's just counting down time for most who have been in manual/working class employment.
 
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FatCat2402 said:
Probably written by a load of wankers who have shares in a load of private pension providers. £31k for a single person seems a little excessive.... there'll be plenty not earning that now whilst in full time employment
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Near enough £600 a week, I'd say that's more than enough for a moderate retirement.
I worked out about £20,000 would be enough for me to have a comfortable retirement. In the 22-23 tax year I only earned £23,000 and that was plenty, 23-24 tax year will probably be much the same as I've had loads of time off, one of the perks of being self employed.
 
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natinnam said:
My parents on retiring, had 1 overseas holiday, did weekends away and lived comfortably, on a lot less than a single person's current estimate. Once my Dad passed, my Mum doesn't do the holiday's other than an organized bus excursions the biddy's love, obviously not out and about as much, she's hardly spending anything at 75yo, gives most away to grandkids and she's not on massive lumper, just a few bob and the state pension. I think you spend the most in the early retirement stages obviously, after that it's just counting down time for most who have been in manual/working class employment.
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The numbers are utter biased bollocks
 
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