Pensions

[uksparks]

Hi,

ok ok do in thinking of starting a pension before it's too late, I can justify £200 per month, but looking at the calculations it will only give me about £3k per year when I need it which is pants.

i asked my dad how he gets £32,000 pension plus £6000 state pension, and he said he put in 11% for 30 years and employer put in 14% so a total of 25%, not a chance I can compete with that, he has a £800k pension pot.

so, if you have a pension, who's it with and what should I be looking for, I'm ok with the charges, I understand that, it's the rest of it I don't really know.

 

[Leesparkykent]

Might be worth going to see an independent financial advisor.

 

[uksparks]

I'm thinking that might be a good idea. Do you have one?

 

[Guest77]

Agree with Lee, only thing I would add is you would need at least 250k in the pot to make it worthwhile, so bearing that in mind 200 might not be enough over the period you are thinking off, I have been putting 150 a month into mine over 25 years and it still is carp really, the bottom has fallen out of pensions, as lee suggested see an expert.

 

[uksparks]

I know, it's depressing isn't it, I would need to stick a grand a month it to make it worth while.

 

[Leesparkykent]

I'm thinking that might be a good idea. Do you have one?

I have a pension. I installed a 4kw pv system on my house and my mums, back in the day when the FIT was 43.3p which has since gone up as it's index linked and guaranteed for 25year. The money I get back from both I don't touch and pay it in to the pension.

Tbh it might sound awful but my wife's parents are loaded and have 4 property's with no mortgages.......and she's the only child lol:49:

 

[uksparks]

I have a pension. I installed a 4kw pv system on my house and my mums, back in the day when the FIT was 43.3p which has since gone up as it's index linked and guaranteed for 25year. The money I get back from both I don't touch and pay it in to the pension.

Tbh it might sound awful but my wife's parents are loaded and have 4 property's with no mortgages.......and she's the only child lol:49:

lol I like that, I kind of see life like one day we will get money from parents etc, my mrs's parents are divorced and both own good houses and are older than my parents so they should technically snuff it before mine then my ones will die off, so there should be a good flow of cash coming in at some point.

i suppose my only blessing is that I own my house and have no mortgage, but equally I've still got to bring the pennies in to pay the nursery bill of £10k per year, the council tax of £2500, insurances etc, there's probably £16k per year of outgoings!

life is depressing really, I think I'll be poor when I'm old, oh then you get the mrs's sister say she is poor but lives in a £2m pound house, oh I feel sorry for them, NOT.

 

[Leesparkykent]

lol I like that, I kind of see life like one day we will get money from parents etc, my mrs's parents are divorced and both own good houses and are older than my parents so they should technically snuff it before mine then my ones will die off, so there should be a good flow of cash coming in at some point.

i suppose my only blessing is that I own my house and have no mortgage, but equally I've still got to bring the pennies in to pay the nursery bill of £10k per year, the council tax of £2500, insurances etc, there's probably £16k per year of outgoings!

life is depressing really, I think I'll be poor when I'm old, oh then you get the mrs's sister say she is poor but lives in a £2m pound house, oh I feel sorry for them, NOT.

I know that feeling mate. I think I'm paying for the brand spanking range rover vogue of the owner of the nursery my boy goes to lol

 

[uksparks]

It's so expensive, I only earn pittance too, the Mrs had chopped back to three days, and I do 4 days.

 

[Leesparkykent]

It's so expensive, I only earn pittance too, the Mrs had chopped back to three days, and I do 4 days.

Come on mate.... No mortgage and an Audi..... Things can't be that bad lol.

 

[Midwest]

Buy to let mortgage and buy a house is the way to go (apparently). I know of a few people who have done that a few years ago, that's their pension. Should done the same myself, but never had the balls. You do need something in the twilight of your life, how else can you afford those holiday homes in Spain, cruises to the med, speedboats, motorbikes & Porsche Boxers!

 

[telectrix]

how else can you afford those holiday homes in Spain, cruises to the med, speedboats, motorbikes & Porsche Boxers!



so, have a holiday home in Rhyl, a cruise down the Mersey, rowing boat, pushbike, and a Peugeot Boxer. Sorted.

 

[DuaneMHunt1976]

Invest in housing, home or over seas.

Buy house in the UK and renting it
Or over seas and rent it out as holiday home, come holiday for yourself

Or gold under the bed

 

[telectrix]

Invest in housing, home or over seas.

Buy house in the UK and renting it
Or over seas and rent it out as holiday home, come holiday for yourself

Or gold under the bed

all i got under my bed is a pi$$pot.

 

[DuaneMHunt1976]

And there flows streams of gold
(OK I've been online far too long)