Retirement

[hogman]

OK then peeps, been chatting about retirenment plans (yes I know I have another 20 years to go) but was wondering what plans people had in place to ensure their retirement.

At the mo I aint got a plan at all, rather worrying, but have been giving it some thought  and its either property or a livery yard - any ideas?

If you have a great pension plan in place - well done, now for the rest of us what you planning?

Cheers

Kevin

[Man On The Clapham Omnibus]

Here's a plan...  

[hogman]

Nice plan but just alittle too risky, any safer options out there?

[scubajess]

Here's a plan...  

I've retired, but this isn't me, I used to shoot right handed  

[Norman Verona]

From personal experience don't invest with pension companies.

best bet is invest in property, especially at the moment.

In the long term, due to lack of land to build on, UK property will always rise. If the past is anything to go on then in 20 years your UK property will be worth 3 times todays value.

[custardtart]

I have a great investment idea, let me introduce myself. I am really the king of Umbegha, a small but very rich African country. You see the problem is, the government don't recognise my sovereignty and have stolen all my money. Fortunately for you, I still have friends in high places and they are willing to smuggle my vast fortune out via and international bank account.

All I need you to do is to email me your bank account details, your pin code and a specimen of your signature and you will be rewarded with 10% of my incredible wealth!

Sounds too good to be true? You'll never know unless you try....  

PS: this is a joke just in case you are one of the few incredibly gullible people who would do this - er on second thoughts, if you are one of them, ignore what i just said and send em over anyway.  

[Man On The Clapham Omnibus]

Nice plan but just alittle too risky, any safer options out there?

Sorry if it seemed bit flippant. I really don't know what to suggest - I suspect Norm's advice is as good as any. What with the poor performance of investments and the lousy annuity rates, I would be in despair if I were looking to cash in a pension pot right now.  

[Nick Algar - Competition Secretary]

Commercial property is pretty good but I think the best advice is don't have all your eggs in one basket, try and keep things spread around.

Pension funds look great from a tax point of view, but they do have a lot of restrictions on getting the money out !! But if you put aside the same amount every month, it's suprising how it builds up

[pistonbroke]

Get yourself a bank managers job , f**k up big style , then take the bonus money and run.

whatever you do, dont invest in a pension , you might as well set light to £20 notes , beleive me I speak from personal experience the pp I took out for retirement is practically worthless , all the years I paid in it went to some faceless fat b*****ds bonus fund instead.      

[Norman Verona]

I had a pension for which the value was quoted in August. With the assistance of a club member I contacted the pension company to draw the money. The stupid bu99ers didn't freeze the value and whilst they messed about asking question after question (not all at once) the value dropped £3000.

So not only are they robbing barstewards but stupid as well.

[Lurksalot]

Here's a plan...  

Hey Ho

If you pull it off, you get to live with no more money worries and can afford all you need ,

If you don't pull it off, you get to live with no more money worries with three meals a day paid for by the state  

[oldman]

Keep fit and work till yer drop....I doubt that there will be any state pension in a few years time.

[KerryS]

Firstly congratulations on thinking about this now.

Secondly, I haven't a clue  

I was fortunate to have a company final salary scheme where I had 33/60 when I finished 7 years early. I feel so sorry for folks in work now, like my daughter, who'll have to work till they drop almost and I wonder if the trend in people living longer may reverse.

Gloomy or what  

[jago]

the trouble is with pension plans is that when you do retire you find out swmbo has been making a list of jobs you havent done for years so you wont have time to spend your money            

[jim_l]

Get in  a pension fund now is my advice -  during a recession you are buying at low prices and anything you have in as we come out of recession will grow, and grow.  In addition every pound you put in the chancellor puts 25p in.

Nobody is predicting that residential property will go up in value the next 4 or 5 years, most likely it will keep going down until your average bod can afford one - and stay there.

If you are worried about your kids get them to start saving now - small amounts now are as effective, if not more, than big chunks later.  With medical advances they will probably live to about 140 and every penny they save now will contribute to an earlier and more comfortable retirement.

I know....its boring....