What have you been doing today?

Just been up to get my bike Mot'd. Passed at a main dealers with a couple of advisories. Slightly stiff or notchy head bearing and a slightly damaged valve stem on the rear wheel. I’ll sort the valve out next week when I service it but the head bearings can wait until I feel like it although they feel okay to me. (n)
 
Sponsored Links
Over the allotment now. Last of my spuds - they should see me through to Christmas and beyond. First of my carrot crop, some leeks and a pumpkin that I must have missed.
CE927F31-0366-40C1-9078-A883501B9D93.jpeg


I’ve even managed to grow some lettuce - in November!

6A4840EC-56FB-436E-A066-CEBD18C25376.jpeg
 
Sponsored Links
Today I checked out an old pension I'd forgotten about, I was reminded of it when they tracked me down through the electoral roll. Imagine my surprise when I found out it's value is over £80k. Things I mislay!!!
You don't have to answer as this is a bit of a personal question, plus I'm probably showing my ignorance re how pensions work, but does this mean you can 'cash the pension in' and receive £80k? If yes, very nice surprise Christmas present to yourself :)
 
You don't have to answer as this is a bit of a personal question, plus I'm probably showing my ignorance re how pensions work, but does this mean you can 'cash the pension in' and receive £80k? If yes, very nice surprise Christmas present to yourself :)

No, I can't... well maybe I could but it would be catastrophically stupid to do so. Also the portfolio gained 7.5% last year, which in this climate is an excellent figure.
 
Just been up to get my bike Mot'd. Passed at a main dealers with a couple of advisories. Slightly stiff or notchy head bearing and a slightly damaged valve stem on the rear wheel. I’ll sort the valve out next week when I service it but the head bearings can wait until I feel like it although they feel okay to me. (n)
I was prob going through a bit of a mid-life crisis 2-3 years back. Always liked bikes so decided to go for my bike licence. Passed my CBT and theory and started the DAS course. Was getting on fine but came off during one lesson, luckily was just going slowly around a mini-roundabout in the wet. Felt okay and continued the lesson but suspected I'd be sore the next day ... boy was I right! Most people around me were saying along the lines of 'why are you doing this?!?' including my next door neighbour, younger guy who did ride but packed it in due to ever busier roads etc. On balance I decided to call it a day. Part of me will always regret not achieving it though.

Just thought I'd cheer you up with that story, lol!
 
No, I can't... well maybe I could but it would be catastrophically stupid to do so. Also the portfolio gained 7.5% last year, which in this climate is an excellent figure.
You can take 25% of it tax free. That’s £20k to blow on a trip around the world....wait, err, no, don’t bother! :mrgreen:
 
You can take 25% of it tax free. That’s £20k to blow on a trip around the world....wait, err, no, don’t bother! :mrgreen:

I'll leave it, treat it as if it didn't exist. Same as I do with my main pension, they're just numbers for later on.
 
Last edited by a moderator:
I was prob going through a bit of a mid-life crisis 2-3 years back. Always liked bikes so decided to go for my bike licence. Passed my CBT and theory and started the DAS course. Was getting on fine but came off during one lesson, luckily was just going slowly around a mini-roundabout in the wet. Felt okay and continued the lesson but suspected I'd be sore the next day ... boy was I right! Most people around me were saying along the lines of 'why are you doing this?!?' including my next door neighbour, younger guy who did ride but packed it in due to ever busier roads etc. On balance I decided to call it a day. Part of me will always regret not achieving it though.

Just thought I'd cheer you up with that story, lol!
I passed my test on a 125 scooter. No intention of getting a real bigger bike, just wanted to ditch the L plates, get cheaper insurance, not bother with another CBT and possibly take a pillion rider. It was a restricted licence and I ended up getting a 300cc commuter scooter. Two years after passing it automatically upgraded to a big boys licence so I got a 650cc as well. No stopping me then because a few years later, I got a 1300cc sports tourer bike. Did half a dozen European bike trips with mates. Got fed up, sold the big bike and kept the commuter scooter. When my mates go abroad nowdays I fly out and meet them, hiring a bike out there. Last time I met them in Corsica. Took them two days riding, a train and an overnight ferry to get there. I got there in a few hours! Five of us were due to fly out to Malaga in October and picking up fully kitted out BMW's for a 'Cowboy tour' - a mix of on road and off road riding in the mountains where they made the spaghetti westerns. Covid put paid to that but they are holding onto our deposits a until things clear up so probably sometime in 2023 then! Still got my commuter scooter that I bought new in 2009. I paid £3,500 for it, I’ve been knocked off it three times and have received a total of £4,950 in damages and I still have it so it’s more than paid for itself - win/win, especially when you can walk away from the crashes!
 
...does this mean you can 'cash the pension in' and receive £80k?

If you cash it in (which you may be able to, dependent on age) it's taxable, apart from the first 25%

And of course reduces whatever income you have planned for the time when you are no longer working

Most people earn more, and pay more tax, before they retire, so there are usually advantages in starting pension income afterwards, when you may be in a lower tax band.

If you suffer a downturn in business, or a catastrophic illness or injury, and your income drops, and a pension is available, it may be sensible to take some pension income that tax year to use up your nil (£12,500), or basic (£50,000) allowance.
 
Using the lawnmower to vacuum up the leaves and didn't realise it was still set to cut, ( I usually raise the blades when putting it away), so decided I may as well carry on. Thankfully it has a new sharp blade to did a decent job of cutting even though the grass was wet. Then decided to jet wash the patio which had started going a bit green. So much for getting a shower and putting clean jeans and T-shirt on this morning. Second shower and clean clothes and now sitting down with a beer relaxing.
 
@eddie, do you know much about pensions?
The reason I ask is because I have a few small company pensions which have been lying dormant for a few years without any contributions being paid in.
I'm trying to decide whether to try and close them and put them into something like an ISA or possibly government bonds or take a 25% lump from each and put that into something if I can't close them.
Whats your thoughts? Obviously I will take proper independent advice before I do anything but I don't know all the options that may be available. Most will only pay out between a few hundred and 2.5k a year so not a great deal.
 
Sponsored Links
Back
Top