What are your retirement plans (financial perspective)?

[Robbox]

I hope you took legal advice at the time. That sounds like grounds for disciplinary (written warning etc) not termination. A lawyer could have possibly helped you pull their operational procedures apart along with any checks and balances designed to prevent such mistakes. Or did they pay you off?

No reply necessary if you were compromised out as it would be confidential.

The spanner in the works for all of us is needing care.
I have a relative with a care bill for his wife running to 60k per year. Even with a really good index linked pension, that pretty much wipes him out after tax.

I did get legal advice and won some compensation, but unfortunately I had quite a book of errors and warnings etc and this one was the final straw in their eyes.
It was a new contract and the end user were 'threatening' to end contract. I never felt like making a big fight out of it and the lawyer (a family friend) said the evidence against me was pretty damning...
But TBH, that place made people sick, the AC was no good. I had digestion issues from the shift work, which took 3 years to subside.
C'est la vie as they say!
PS: I said to the director as a passing comment, that since it was a new channel and the show went out at 11pm, 11 viewers was probably the total viewership!

 

[Dork Lard]

My definition of retired is not to work in any shape or form

So, are you just going to sit there & die in front of a TV???

 

[Dork Lard]

I've been in the BTL game for years. As per earlier post I might sell 2 and retain 1 (with mortgage cleared) as a pension boost. Or I might elect to get out that game completely depending on how the rest of my finances look nearer the time.

I never really thought about it as I was expanding my portfolio all the time, but they do say that less than 5x BTL's is very very risky !

Unless you're planning to manage & maintain the property yourself & have access to funds to cover any major repairs, then a clean break from BTL might make more sense.

 

[Dork Lard]

Retirement plan:

Work until I can no longer work.
Jump off Beachy Head while I still can.

Honestly, no bloody idea. Retirement will be grim. Almost no pension, and no means to save for one.

It is considered that the best way to die is in your sleep while drunk, which legitimise's knocking a few back before bedtime

 

[motorbiking]

My definition of retired is not to work in any shape or form

A week here and there doing something you enjoy helps you avoid running down your savings.

 

[JP_]

It is considered that the best way to die is in your sleep while drunk, which legitimise's knocking a few back before bedtime

Well, that makes sense. I am off the booze at the moment too keep myself alive longer!
Maybe when I stop working, if the kids are settled, I'll get that motorbike I wanted years ago, and start drinking again, and find some crazy bars (do they still exist?) and burn the candle both ends for a few years. I'll probably just give myself chronic ill-health and mobility problems knowing my luck.

 

[Mottie]

Well, that makes sense. I am off the booze at the moment too keep myself alive longer!
Maybe when I stop working, if the kids are settled, I'll get that motorbike I wanted years ago, and start drinking again, and find some crazy bars (do they still exist?) and burn the candle both ends for a few years. I'll probably just give myself chronic ill-health and mobility problems knowing my luck.

It's your positive outlook that keeps you going!

 

[motorbiking]

I'm done with motorbikes. many years of luck would have eventually run out.

 

[JohnD]

What I was saying not getting my full pension even though I've paid more than 35 years of approrpaote NI's

I'm glad to see you've reconsidered your previous claim, FACT

It's hard to disentangle your own position from your copy and paste content

A common reason for people paying NI for 35 years or more but not qualifying for full "flat rate" pension, is that they were contracted-out for some years, meaning money was paid into a private scheme instead of to the government scheme. With a reasonable amount of luck and wisdom, their private scheme will match or exceed what they lost from the state scheme.

FACT

Otherwise, they may end up worse off.

FACT

A common reason for people qualifying for a pension greater than the new "flat rate" is that they paid, in some years Graduated Pension or other top-ups which increased their NI contribution and earned them extra state pension

FACT

Both these conditions are declining, as the people who used to be in these alternative schemes reach retirement age or/and peg out.

FACT

 

[JP_]

I'm done with motorbikes. many years of luck would have eventually run out.

I passed my test about 17 years ago I guess, but never bought a bike. I just didn't trust myself.

 

[Dork Lard]

Well, that makes sense. I am off the booze at the moment too keep myself alive longer!
Maybe when I stop working, if the kids are settled, I'll get that motorbike I wanted years ago, and start drinking again, and find some crazy bars (do they still exist?) and burn the candle both ends for a few years. I'll probably just give myself chronic ill-health and mobility problems knowing my luck.

I used to frequent a biker pub that is best described by the bar scene in the '84 film 'Gremlins', friendships were formed there that have lasted 40+yrs & I still don't know their surnames.

BTW, I'm the one with 4x fags in its gob.

Sadly, such places no longer exist. At least, outside of the world of MC back patch clubs. The biker world is now infested with plastic wannabee's living the dream.

Having said that, you will still enjoy more fun £ for £ being amongst bikers than you ever will amongst almost any other lifeform.

 

[Ihavenojob]

BTW, I'm the one with 4x fags in its gob.

Are you using the British meaning of fag or the American meaning?

 

[diy_fun_uk]

Come 2003 after 14 years of that job, I had sold my flat in London and had a bit of a cash pile, waiting to buy another....when I got called into the directors office and told I was being suspended because I had edited the wrong programme and 11 viewers had complained! Suspension led to dismissal. I wasn't that bothered, it was a golden handcuff job. The best bit was a very generous pension starting at 63. All I had to do was wait ~10 years....

So it's YOU who's to blame for that time years ago when a conversation in the Rovers Return on Coronation Street switched to a gun fight on Bonanza and then to Michael Caine shouting 'you were only supposed to blow the blo0dy doors off!'

 

[The Samaritan]

in all seriousness - start saving for your early retirement even before you leave school if you have money/income.
Trust me, it's a great feeling to retire when you want knowing that you can spend more money on yourself than when you worked
and have more holidays, leisure etc than you ever had before.

The gov, all govs will keep on moving goal posts so go for pension fund type saving with several co's inc works pensions and rentals
in London and/or in the best areas around where you live.

Consult an IFA and then do what you feel is best for you and retain the best bits of info they gave you and utilise them.

 

[diy_fun_uk]

So, are you just going to sit there & die in front of a TV???

Nope ... I'm going to fill my time with stuff I'd refer to as leisure, not work. If we are forced into one of the categories do you work to live or live to work? I'm definitely the former. Good luck to folk who enjoy working and want to do so until they drop e.g. their work is a passion, that ain't me