Do I need a pension?

dunstonh

Its not a case that retirement planning is too late at 60. Its a case that it really stops being something that you can realistically influence over the long term (.e.g paying £300pm isnt going to make much of difference compared to say a 30 year old paying £300pm).

There are some things you can do in the later working years (such as larger payment in final year of working) but in this case there is not.

At 60, it becomes more of a case of organising what you have to be set up more efficiently. That can be for tax, benefits and income maximising.

yowza

Thanks everyone for the practical advice, especially cb1 for the cold scythe of reality. I shall seek medical as well as financial advice, my 30-a-day habit will probably affect both.

chesky369

......my 30-a-day habit will probably affect both...

that's OK - you won't be able to afford them!

cyclonebri1

yowza wrote: »

Thanks everyone for the practical advice, especially cb1 for the cold scythe of reality. I shall seek medical as well as financial advice, my 30-a-day habit will probably affect both.

Yowza, £65k is a good sum off money to have tucked away, congrats on that, and also pleased to see you haven't taken exception to my post that was genuinely intended to help, :money:

I will savethe "cold scythe or reality" for future use, , thanks:cool:

What is your employment history, do you have any original state pension earning related contribution entitlements or an addition from the previous system?

I am 57 and have both so you may have too?