-
Equity release query
My parents situation is such that they are both over 70 and need to free up some money from the family home whilst still living there. If they did equity release, what happens if: 1. A few years down the line they choose to sell that house before they die eg. If they had to move into residential care home and sold the…
-
Equity Release
Hi all, I'm 55, retiring (semi in 3 years), wife is 46, she'll probably keep working until 58. Have a house with very small mortgage but worth a reasonable sum. Until now I have been working on: 58-62 Combination of Draw down, part time work and downsizing for cash buffer 62-67 Wife salary, DD , cash 67+ DD (what's left) ,…
-
MyCSP have a cunning plan...
Dear Forumites, I have recently received (and returned) an enclosure to a letter that I received from Civil Service Pensions, inviting me to claim my pension - how efficient, I thought ! But now I am having second thoughts; I note that the pensions are augmented each April, using the CPI rate from the preceding September.…
-
National Insurance Contributions
I have recently been made redundant after 37 years employment. I have paid NI for 37 years. I am now a self employed sole trader. Do I need to pay voluntary NI? TIA
-
If you are wearing my shoes.
Hello, long time reader here but first time poster. I am like a boat lost at sea with no rudder if you
get my drift (pun intended). A brief bit about me I am a single man with no children,
currently not in a relationship, unemployed and living with a relation.
Claiming no state benefits soon to be 55 years of age and…
-
Turning 66 & Starting State Pension...
Hello all, hope you are well. As of Friday my mum reaches state pension age. I think I've managed to sort everything for her as her carer but I'm not 100 percent sure if my information is correct or if there's anything else I need to do. I'll try and be as factual and unemotional as possible finances wise and I've worked…
-
Inflation
I wonder whether the effect of the inflation of home energy costs is fully reflected by the Consumer Prices Index (CPI). A New State Pension could be £9,339 a year and the 3.1% increase for 2022/23 is £290. I have found from EDF that the average annual home energy bill is £1,138. An increase of 50% in the next 12 months…
-
Which?
As a little retirement saving and after many decades, I am foregoing Which? membership at £12.75 a month, £153 a year more than on value. The magazine now concentrates on eco issues. This month's cover is "How Green is your grocer?: We compare the environmental footprints of 11 supermarkets". I think that Which? probably…
-
Prescription charges for the over 60's
Couldn't find an appropriate category for this, so hope I get an answer here :) There have been government proposal to change the free prescription charges for the over 60 but under state pension age. I have tried to keep an eye on this, but cannot find anything lately, the proposals were being pushed to start from April…
-
Amazon Kindle
I have been using a Kindle DX for a decade. This has a 9.7 inch screen and allows a large text size to be used. Amazon no longer provides large-screen Kindles. What would be a good replacement for someone preferring a large text presentation?
-
Early retirement, has this been discussed?
Another
thing about early retirement. Speaking to my brother over the weekend about
this. He has slight arthritis in one knee and ankle issues. Now he was taking
medication/steroids for the pain but it never really fixed the problem while he
was working. Since retired (being at home) for 2 years he thinks the problems
have…
-
Term Life Assurance
I'm looking at insurance plans that pay out when you die. Sun Life https://www.sunlife.co.uk/media/over-50s-life-insurance/?utm_source=Google&utm_medium=ppc_gofandterm&utm_campaign=GOF&gclid=Cj0KCQiA0p2QBhDvARIsAACSOOODWqik-f2QQMHcsgoNhssLF8F6s8mKnbUvgkdrCoyNBfbtoNOsHjMaAosOEALw_wcB&gclsrc=aw.ds have one for which I've…
-
How should I sign over my flat to my son. He lives there, It’s always been known it would be his.
I am 50 so nothing to do with trying to avoid anything..I.e care home payments.... I continued paying the mortgage so I could hand it over to him.
-
Pension or ISA?
HI, I have increased my hours at work so have a little extra monthly income. Should I put it into my existing savings (a cash ISA) or top up my teachers pension? I cannot pay any more into my state pension. Or should I put it into a shares ISA as I have none? Thank you in advance for your thoughts
-
Worth sharing...
I really like the option on MSE where you can insert your details and establish if you can get a loan without needing to be Credit checked. I did this and was guaranteed a loan at 3.7% via MSE. I decided to apply directly to the company itself and was offered an even lower interest rate of 3.1%. Thought I would share this.
-
AJW62 post
AJW62 at 60 years of age - you will not be able to get up to 50% LTV on a lifetime mortgage. You may be able to secure the funding via a retirement interest only mortgage and this would require affordability assessment. So this route would be worth exploring. But definitely rule out equity release as this will not fit the…
-
Means testing and Care Home Provision
An enquiry on behalf of my family. Care home financial support is means tested. Is it tested on the income/assets of the couple or the individual? For example if the spouse has their own income / property / savings, would this be taken into account? thanks in advance
-
Hearing Aids NHS / Specsavers
Can anyone tell me if I can "upgrade" the NHS spec aids from specsavers by paying the difference for higher spec aids? many thanks
-
Inheritance of £45k - what would you do ?
Hello All I'd welcome commentary from people (I'm aware that I can of course also ask an IFA but I do find the wide range of views on this board very helpful). It is likely that I will receive ~ £45k inheritance in 2022 (money is pending completion of probate etc). What would you do with this money ? I have ~ 4 years until…
-
Retirement abroad and medical insurance
Has anyone made plans to settle outside the UK? It seems that private medical insurance is necessary for most of the countries where one would be likely to want to retire, and the standard expat insurers will either not quote for someone of such an age or the quotations are very high. There seems little point moving to a…
