Retirement

[Ralf81]

Anybody recommend a decent financial adviser in Sunderland area

 

[42]

I would imagine he has his eyes fully on retirement so his investments will reflect that and carry less risk than yours.

Which I alluded to in one of my replies. For me it was more the attributing his increased growth entirely to the FA during a period when the markets have done well, so would've done better regardless.

FAs can be useful if you are quite well off when it comes to tax planning etc, but if you're just a basic rate tax payer chucking a few quid into an investment find they're largely pointless as you'll just end up paying fees for something you can do yourself. Given how defensive he got, does make me wonder if he's realising he's potentially been mugged off.

 

[hoolio]

Which I alluded to in one of my replies. For me it was more the attributing his increased growth entirely to the FA during a period when the markets have done well, so would've done better regardless.

FAs can be useful if you are quite well off when it comes to tax planning etc, but if you're just a basic rate tax payer chucking a few quid into an investment find they're largely pointless as you'll just end up paying fees for something you can do yourself. Given how defensive he got, does make me wonder if he's realising he's potentially been mugged off.

Maybe he’s just risk averse, some people are.

 

[Matt Hopkins]

Yes only talking about IHT. Advice I received wasn't based on avoiding care costs but if that's a side effect then so be it.

It's not a side effect

 

[buster]

A friend of mine’s wife died and left her half of the family home to their son and daughter, they wanted the house sold and their share of the proceeds. Nothing my friend could do, he didn’t have resources to buy them out. He took his half, went to live in Spain and removed his offspring from his will. Beware what you do with your home.

Thought the will would be written with lifetime allowance to stay within the property for the surviving spouse ?

 

[Darlo1973]

I’m getting very nervous. Early 40’s
14 years in the army, got a personal pension going and just started a serious savings account.

I don’t own a home, so my plan is if I can’t make it at 60 then I'm robbing a bank and living off the government

Early 40s is still young enough to get a decent long term deal on a mortgage. Once you hit 50 then it becomes much more difficult so I would prioritise buying within the next 2-3 years.

 

[The Great Soprendo]

Thought the will would be written with lifetime allowance to stay within the property for the surviving spouse ?

I'm not an expert but I don't think wills can legally bind the benefactors in that way. It's odd not just to leave it to the surviving spouse in the first place though.

 

[Paul3845]

Which I alluded to in one of my replies. For me it was more the attributing his increased growth entirely to the FA during a period when the markets have done well, so would've done better regardless.

FAs can be useful if you are quite well off when it comes to tax planning etc, but if you're just a basic rate tax payer chucking a few quid into an investment find they're largely pointless as you'll just end up paying fees for something you can do yourself. Given how defensive he got, does make me wonder if he's realising he's potentially been mugged off.

I'm not mugged off, I just find the assumption and arrogance of your posts irritating. As I said you don't know my circumstances.

 

[soapster]

I’m not an advisor, but my serious savings would be put into buying a house. Couldn’t imagine having to rent in retirement

That to me is the issue. paying out £500 to £800 for rent whilst on my pension. end up on some sort of benefits

I'm not an expert but I don't think wills can legally bind the benefactors in that way. It's odd not just to leave it to the surviving spouse in the first place though.

its a way round the paying for care home costs. if trust owes half and surviving spouse owns half (as well as being in the trust). cannot sell half a house as nobody would want to buy half a house.

I suspect in the tale before, the dad got fed up with the hassle from his children (it could not have been a pleasant environment) and said sod you

 

[BiG]

I heard a lot of ‘you need structure and purpose in your life because if you don’t, lots of people go rapidly downhill when they retire’, in the lead up to my own retirement.

I retired in the middle of covid and that altered my attitude somewhat to what my options were immediately on retirement.

And so I determined that I couldn’t really be arsed with all the ‘remaining active through work’ stuff, deferred the ‘retaining structure through voluntary activity’ and I do fuck all whilst still feeling I have full days and plenty to occupy myself with. I’m not distressed. I’m de-stressed

 

[The Great Soprendo]

I heard a lot of ‘you need structure and purpose in your life because if you don’t, lots of people go rapidly downhill when they retire’, in the lead up to my own retirement.

I retired in the middle of covid and that altered my attitude somewhat to what my options were immediately on retirement.

And so I determined that I couldn’t really be arsed with all the ‘remaining active through work’ stuff, deferred the ‘retaining structure through voluntary activity’ and I do fuck all whilst still feeling I have full days and plenty to occupy myself with. I’m not distressed. I’m de-stressed

Good for you, sounds perfect. Might not work for everyone though.

 

[Town End Farmer Giles]

I'm not mugged off, I just find the assumption and arrogance of your posts irritating. As I said you don't know my circumstances.

I took it as a throwaway comment on relative performance. Bet he wishes he'd never bothered now

 

[BiG]

Good for you, sounds perfect. Might not work for everyone though.

Absolutely. But I thought I’d offer an alternative to the accepted wisdom of you’ve got to keep working to retain structure and purpose to your life or you’ll die, perspective.

 

[SurreyMackem]

I heard a lot of ‘you need structure and purpose in your life because if you don’t, lots of people go rapidly downhill when they retire’, in the lead up to my own retirement.

I retired in the middle of covid and that altered my attitude somewhat to what my options were immediately on retirement.

And so I determined that I couldn’t really be arsed with all the ‘remaining active through work’ stuff, deferred the ‘retaining structure through voluntary activity’ and I do fuck all whilst still feeling I have full days and plenty to occupy myself with. I’m not distressed. I’m de-stressed

I retired recently, I have also ignored the same advice for part time work, volunteering etc and I do find I can fill my time succesfully but I do feel the need to be a useful member of society which think I am by being husband, father, friend and various club member.

 

[BiG]

I retired recently, I have also ignored the same advice for part time work, volunteering etc and I do find I can fill my time succesfully but I do feel the need to be a useful member of society which think I am by being husband, father, friend and various club member.

I content myself with putting extra effort into being as useless as I can possibly be.

(I jest.


I don’t have to put effort into that at all…











No. I’m still kidding. I concur)

 

[Nookie Bear]

I'm not an expert but I don't think wills can legally bind the benefactors in that way. It's odd not just to leave it to the surviving spouse in the first place though.

They can I’m signing mine next week and my share of house is being left to niece and nephew with a lifetime interest for husband , he can downsize but any proceeds would need to be split

 

[Barista]

I heard a lot of ‘you need structure and purpose in your life because if you don’t, lots of people go rapidly downhill when they retire’, in the lead up to my own retirement.

And so I determined that I couldn’t really be arsed with all the ‘remaining active through work’ stuff, deferred the ‘retaining structure through voluntary activity’ and I do fuck all whilst still feeling I have full days and plenty to occupy myself with. I’m not distressed. I’m de-stressed

That’s similar to me. I retired at the beginning of this year aged 55 and people just can’t get their head around what I do all day and keep asking how do I not get bored.

I get up, have breakfast, coffee and read paper. Then go to the gym, get back and it’s lunchtime. I am slowly redecorating the house, and spend a couple of hours most afternoons doing this. Then cook dinner (I live down south now, so don’t call it tea ). Myself and wife then watch a couple of episodes of whatever box set we are into. Rinse and repeat. Working well so far. We do have days out as well whenever we feel like it.

 

[cornish mackem]

Gerrin I’m planning on saving my leave entitlement so I get nearly 3 weeks practice before I go for good. I’ll need to pop back in for a day or two to hand my kit in and stuff but no real work as such. I’ll chip in and help like but I’ll be as good as gone that last day or two I’ve paid my strike days off, asked for my final forecast and I’m thinking of ways to blow my lumper.

I cant wait, 30 years working for one employer is more than enough. Especially in the public sector

I’m done on 15th . When I say done, part time but I’m taking my lot.

 

[safcforever]

I’m not an advisor, but my serious savings would be put into buying a house. Couldn’t imagine having to rent in retirement

My biggest issue with that right now is we haven’t settled and know we aren’t where we want to be.

We have 1 more big move in us and are planning on doing it within the next 18 months

 

[I'm Spartacus]

I’m done on 15th . When I say done, part time but I’m taking my lot.

How have we gone from school to retirement so quickly?