Still lost after losing my love of my life

I posted a while back that i lost my wife to cancer in April after a 2 year battle, it is still extremely difficult and everyday is a struggle just to wake up.
With Julie's pensions and our savings I am secure for life but I just don't know what to do for the best.
I currently have around £50k in premium bonds, mortgage free with a value on the house at £150k. I earn around £2k a month and with Julies pension etc I bring home around £2500 a month. My outgoings are only around £600 a month.

I know I am in a good position and don't want to ruin a chance of a lifetime, I am really struggling to know what to do for the best. I am 50 yrs old and don't really want to work past 55 if I can help it. Friends have said I should buy property and use that as an income but I just don't have the get up and go at the moment.

Can someone give me a good idea as what I should consider doing to make my life as easy as possible.

Thanks, from a miserable guy.
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  • xylophone
    xylophone Posts: 44,140
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    Does your employer provide a pension? If so, what kind?
  • andru
    andru Posts: 125 Forumite
    They do but at the moment we are in dispute with them, I work for Tata steel. At the moment it is a final salary pension.
  • inspireme247
    inspireme247 Posts: 188 Forumite
    You can always start investing?
    You will only fail to learn if you do not learn from failing.

    Save 2015 - #097 £600/£7000
    CC Outstanding #1: £2544 02/2017 #2: £398 09/2015 #3: £363 08/2015
  • Voyager2002
    Voyager2002 Posts: 15,244
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    I think you need to focus on more than money... since you don't need an income you could experiment with voluntary work and see if that gives you the benefits of a job in terms of well-being and feeling useful. The big question is what you want to do with the rest of your life: don't allow issues around money to distract you from that.
  • andru
    andru Posts: 125 Forumite
    You can always start investing?

    What type of investing? I'm totally new to this situation but want to be totally secure and retire as soon as possible.
  • veryintrigued
    veryintrigued Posts: 3,843
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    andru wrote: »
    They do but at the moment we are in dispute with them, I work for Tata steel. At the moment it is a final salary pension.

    A cracking pension you'll have there Andru - whatever happens with the current negotiations.

    The difficult bit with the Tata pension is if Tata steel do sell off the Long Products part of Tata. If they do there will be even less people paying in and the same amount of potential deferred members meaning an even larger deficit.

    Good luck in finding future happiness Andru in what must be a very dark place currently.
  • McKneff
    McKneff Posts: 38,816
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    I think you need to focus on more than money... since you don't need an income you could experiment with voluntary work and see if that gives you the benefits of a job in terms of well-being and feeling useful. The big question is what you want to do with the rest of your life: don't allow issues around money to distract you from that.




    Exactly this.....


    Its no good having thousands of pounds a month to live on and then feel as if you ave nothing to get out of bed for on a morning.....
    make the most of it, we are only here for the weekend.
    and we will never, ever return.
  • Andypandyboy
    Andypandyboy Posts: 2,472 Forumite
    I think that you maybe need to find a job that you love rather than consider retiring in your current circumstances. Working provides routine and interaction both of which are needed when we are grieving. If your current job is not where you want to be look at changing that rather than finishing work.
  • IanManc
    IanManc Posts: 2,069
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    andru wrote: »
    I posted a while back that i lost my wife to cancer in April after a 2 year battle, it is still extremely difficult and everyday is a struggle just to wake up.
    With Julie's pensions and our savings I am secure for life but I just don't know what to do for the best.
    I currently have around £50k in premium bonds, mortgage free with a value on the house at £150k. I earn around £2k a month and with Julies pension etc I bring home around £2500 a month. My outgoings are only around £600 a month.

    I know I am in a good position and don't want to ruin a chance of a lifetime, I am really struggling to know what to do for the best. I am 50 yrs old and don't really want to work past 55 if I can help it. Friends have said I should buy property and use that as an income but I just don't have the get up and go at the moment.

    Can someone give me a good idea as what I should consider doing to make my life as easy as possible.

    Thanks, from a miserable guy.


    I'm sorry for your loss.


    As far as your finances are concerned there doesn't seem to be any immediate pressure to make any decisions, so my suggestion is that you don't make any. You can leave your assets where they are for a year or so at least, by which time you may have more energy or interest in doing something else with them. Perhaps then you might feel like thinking about some savings or investment options, and by that time your own pension position might be clearer.


    And for what it's worth I think that your friends' advice - in the bit I've highlighted - is lousy. I don't think that becoming a landlord, with all the responsibilities and potential worries that it entails, would enhance your life in any respect at the moment.
  • xylophone
    xylophone Posts: 44,140
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    Do you intend to stay in your present job until you are 55?
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