Bought a crombie in there around 2011/12. Never been worn. £200 but the quality is superb and it'll do for my latter years. Especially as funerals get more frequent.
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Retirement
- Thread starter Shieldsman
- Start date
archiesdad
Midfield
We took 5 random months from the last 3 yrs and logged every bank transaction splitting it down into categories. Sounds a bit anal but it was an eye opener to see how much we spend on shite and with a bit more thought how much we could live on without being too frugal. It's very worthwhile doing imo as retirement planning picks up pace.
Keyser Soze
Striker
That's the spirit
Swindon On Tour
Striker
One step beyond.
Darlo1973
Striker
My Mum (Mam) is 88 and still jumps on the bus to go shopping.
Needs to bloody slow down. Suffers from anxiety, gets lonely has to be doing something (bloody moved that to me).
Call her a few times a day which drives me nuts but I know She lives for the calls. My Brother luckily is local thus sees her regularly.
Back to the retirement theme. She lives like She is still in the war.
Only yesterday all worried that her washing machine is packing up. Then She states as bright as a button, “I bought it on the 23rd of June 1999.”
Easily survives on the state pension and a very small private one.
My mam is 90 and similar. Still doing well physically and mentally for her age but constantly worrying about everything. I keep telling her to get her money spent on anything which makes her life easier as I don't need it.
I have full access to her accounts (through Power of Attorney) and even though she only has the state pension, a small widow's one from my dad's old scheme and a few thousand in savings, she is in a better financial position than many working people half her age. If her pension was increased to £20,000 a year she wouldn't know what to do with it.
Sad but true though. I may request to be cremated in said garment.That's the spirit
BallardsBonce
Full Back
Turn of phrase, not sure exactly but on a night out it’s hints / tips and strategies to avoid tax / hide earnings
It’s a good idea but you loose the employer contribution unless you can negotiate a better salary for having no pension
Select coaches
Striker
And you have to assume you’ll be happy to downsize later and not get too attached to the family home
Tuono
Winger
Everyone does that, avoiding tax I mean, not hiding earnings. if you can claim for something then claim it.
BallardsBonce
Full Back
Ok calm down, so defensive…. They are my mates and like many SE trades people they don’t pay their way. Still my mates though (actually most not many
don’t worry I am not in HRMC)
Tuono
Winger
I'm not being defensive, just pointing out the many things about the self employed you have got completely wrong. Everything from furlough to NI contributions, it seems you have no idea how self employment/assessment works.Ok calm down, so defensive…. They are my mates and like many SE trades people they don’t pay their way. Still my mates though (actually most not many
The self employed overall contribute more to the tax system than those on paye yet you think they don't pay their way. At first I put your ill informed posts down to ignorance but now I think it's just bigotry.
DaveH
Striker
I was thinking about this this morning.
I wonder what pension companies would do in this situation? I can claim my private pension (with reductions) when I reach 10 years of my state pension age. So I can claim from 57 but I only get around 64% of it per year (DB) if I do. If when I hit 58 the pension age switches to 70, I can no longer claim my private pension, so the company would have to decide to either keep it going for me for longer or cut me off and give me it back in 2 years time. But I would still have the lump sum.
Darlo1973
Striker
I'm in the transition period of when the minimum age increases from 55 to 57 on 6 April 2028
As I understand it, I will be 55 in 2027 so I could access my occupational pensions then BUT if I don't do it before 6 April 28 then I will have to wait until I am 57 in 2029.
Doesn't really make a difference to me as I am very unlikely to want to access the pensions before 2029 but it might be a consideration for other people my age.
BallardsBonce
Full Back
Absolutely bollocks … and as I said calm down. BTW are you SE?
I see and hear with my own eyes man. Also the amount of people I have worked on my house / car for cash in hand is evidence enough… let alone what my SE mates say.
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Tuono
Winger
You said your self employed brother in law claimed furlough but didn't get the full amount because he didn't pay his NI. As I pointed out the self employed couldn't claim furlough so one of you is lying. You also claimed the self employed didn't pay NI, also impossible.
It isn't illegal to work cash in hand or have you contacted their accountants and found out they haven't paid the tax?
So you have no problem paying cash to hopefully get the job done cheaper but you call out people working for cash! Bit of a hypocrite aren't you?
DaveH
Striker
If it does change, the big difference for me will be the early claim penalties.
I can claim from 57, with around a 36% reduction in the annual amount which can be claimed. I'd like to go at 58 where that will change to a 33% reduction, but might hold off claiming pension until I'm 60 where it will be around a 27% reduction. If the age shifts then I'll probably go at the same time, but will get less private pension and have to wait longer to get the state pension.
When I was self employed I took a salary of about £8k per year and the rest of my income as dividends. Paid zero NI for the duration of my SE years. No income tax and only corporation tax at 19% on the divi's. Also stashed loads in my SIPP.
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Select coaches
Striker
Self employed can’t pay dividends or corporation tax. You must have been a director of a company
Indeed I was, never sure of the differences. Hence I had an accountant to sort stuff for me.
