Retirement

[carpetstu]

Here's a plan...  

Hey where did you get that picture of my bank manager?

[KenPhilps]

Try reading the articles on this popular Financial Website 'The Motley Fool'. Maybe this article will help.

http://www.fool.co.uk/news....ow.aspx

Lots of links to follow on the subject.

[samcooke]

Armed robbery is for mugs. When our local PO got done, they made off with £1100 and got 9 years inside. Prolly not worth it.

Car jacking is where it's at.

[custardtart]

I was fortunate to have a company final salary scheme where I had 33/60 when I finished 7 years early.

mmmm final salary pensions    

[Norman Verona]

Being a sad git, I remeber Babara Castle being interviewed on Radio 4 when Thatcher privatised pensions. Babara Castle said she couldn't understand what was wrong with the state dealing with pensions as it cost only 0.05% to collect the money and if the Goverment invested in a similar way that the private sector did the return would be the same.

But as there would be no seperate infrastructures, salaries, bonuses and dividends to pay, the person paying his contributions would be better off..

How true and only masked by a long run of a rising stock market.

For anyone who has the time calculate what a £1000 would be worth today if invested in 1985 and moved to the "best" trust funds evry year. I think what you'll find is that it would be worth about the same as your £1000 invested with your pension fund. Good? well no it isn't beacuse it tells me that the pension fund have used up the the tax allowances for their own purposes.

Don't get me wrong, I have nothing against profit, and bonuses that reward profitable work. But I do when it replaces something that cost virtually nothing and could have been hugely benificial to the taxpayers of the UK,.

[hogman]

Thanks for all the replies guys, looking into things if I pay £200 per month for 45 years then I get a £60k bonus and £1k per month pension - well thats all well and good but 45 years!!!!!! I plan to retire in 20 so the pension option isnt really an option at all!

Property looks the key as shares are just too upredicatable.

Armed robbery looks very nice but it would need to be for big sums if you are gonna gamble prison!

[dombanks]

HA pensions ... you lot make me laugh

first thing is first you need a job to  be able to pay into a pension. everone told me to make sure i was dong something, by the time i am 30 it is too late well that has rolled on by and i have neither so HA pesnion my   the way it is going ill be luck to have a house in Jan.

[Liam]

Christmas Eve. Yippeeeeeeeeeeeeeeeeeeeeeeeeeeeeeeee              

[Man On The Clapham Omnibus]

Mornington Crescent?

[Liam]

No. After 40 years of blood, sweat and tears......well tears anyway, I am going to spend more time in the garage

[AidanPlace]

Just my two peneth,

What ever you save into make sure you re-assess when you want the benefit and where you are in relation to it on a regular basis.

I sell pensions so I'm not going to say they are all poor value for money. As Norm says the service stinks with some of the companies, but not all of them. The tax relief is appealing, the lack of access to the capital isn't.

Norm also says property is bound to be a good investment which is also true and it is bound to increase in value through time. There are drawbacks however, the cost of the mortgage payment, and the lack of flexibility and tax on disposal. The main danger however is relying on one asset for income in retirement. If you have no tenant - you have no income.

I believe that saving for retirement is about diversification of assets and risk (plus regular reviews) If you could get to a position of being able to draw income from either an ongoing business, pension, savings & investments and property you would be able to decide where you take income from without hurting the assets you hold.

For most people this proves difficult because of the cost involved in putting money into a variety of future plans.

So that brings us back to pension. In most economic cycles a diverse portfolio of Stocks, fixed interest, property, overseas assets and cash will perform well over the longer term. Starting as early as you can is the most important.

What is certain is, that I would not want to live on what the state provides and therefore setting something aside for the future is important. Out of all my client's I only know one who has more than enough in retirement. The rest of us will have to make do and limit the drop in income from what we earn now to what we will earn in retirement.

Aidan

[slater]

QUOTE

ith medical advances they will probably live to about 140 and every penny they save now will contribute to an earlier and more comfortable .retirement

and will probably have to work untill they are 135

lewis