Countdown to Freedom

sweetdaisy

CathT wrote: »

We need some renewed focus on our pensions, it's difficult to know whether to invest in pension or save. I'm only 31 but very much a planner and would like to retire at 55!

I am 34 and would love to retire early as well. I save and also have a work place Pension, which is final salary but I know that 1) I am not going to be in my job until I'm in my 60's and 2) my final salary pension probably won't be around by the time I retire and would have been changed to something else.

I feel embarrassed to say that my knowledge of pensions is pretty poor as I find it all confusing, but I have gone on the Pensions Thread and it just frazzles my brain :rotfl:. Think that I need to invest some more time over there and read some posts.

Tilly_MFW_in_6_YRS

Much activity in the Tilly household this morning. We discovered a bit of a b@@b on the summer holiday bookings - FORTUNATELY realised in the period when we can amend FOC and places still available. It does mean less holiday but saves all sorts of messing around with the kids.

I am telling myself that there's only another 3 years of holidays being dictated by school vacations :T

Long old dog walk planned for this afternoon, lets hope the rain holds off.

I'm in the mood to bake and will knock up a few cakes/muffins I think. DS has some work experience this coming week and no doubt will be eating is out of house and home. I may as well prepare

Sadly DD has not got into Uni to study the course she wants. She has offers for her 2nd choice but has decided to stay at home for a year, do a 1 yr course at college and volunteer at a place which will support her Uni application in September.

Given the last six months I'm pleased to have some extra time together but sorry for her. Saying that she has taken it extremely well and doesn't seem at all phased.

Have a good Sunday, Tilly x

ahem_47

Fab news - very pleased to hear it :T

BookWorm

Well done to Mr T on the new job - great news for you all :T

Re: DD and uni place. It's always worth checking during the clearing process too (after A level results) as places often become available when other people don't get the required grades and/or change their minds. Might be an option?

BW

peaceandfreedom

Tilly_MFW_in_6_YRS wrote: »

Sadly DD has not got into Uni to study the course she wants. She has offers for her 2nd choice but has decided to stay at home for a year, do a 1 yr course at college and volunteer at a place which will support her Uni application in September.

Given the last six months I'm pleased to have some extra time together but sorry for her. Saying that she has taken it extremely well and doesn't seem at all phased.

Your DD sounds like a nice well-balanced lady like her mother.

It's a shame she didn't get an offer for the course she really wants and if she has her heart absolutely set on that course, then she's doing the right thing by giving it another go next year. Too many young people go off to uni to do any old course that they are not really interested in.

As well as allowing her to spend more time with the 'olds' she might be able to save up some money if she has part-time work. Will be a busy year if she's at college AND volunteering as well.

Good for her for pursuing her dreams. She may feel a little bit left out when all her mates disappear off to uni though, so watch out for that.

Lois_E

sweetdaisy wrote: »

I am 34 and would love to retire early as well. I save and also have a work place Pension, which is final salary but I know that 1) I am not going to be in my job until I'm in my 60's and 2) my final salary pension probably won't be around by the time I retire and would have been changed to something else.

I feel embarrassed to say that my knowledge of pensions is pretty poor as I find it all confusing, but I have gone on the Pensions Thread and it just frazzles my brain :rotfl:. Think that I need to invest some more time over there and read some posts.

Well done for deciding to sort it.
Whatever anyone tells you, always put as much into your final salary scheme as you can. A defined contribution pensions may be useful for supplementing it, but not as a replacement, because all the indications so far are that final salary schemes get closed to new members, or closed to any further contributions from anyone, or the deal gets changed for new money going in, but whatever entitlements people have already accrued isn't taken away from them.

BookWorm wrote: »

Re: DD and uni place. It's always worth checking during the clearing process too (after A level results) as places often become available when other people don't get the required grades and/or change their minds. Might be an option?

What BookWorm said.

gallygirl

unhappy_shopper wrote: »

A timely remainder, SSS :-) Don't forget that you get a substantial bonus into your pension fund from the government depending on your tax rate. So get saving folks

Yup, gotta love George Osborne at the moment :kisses3:.







(Yuk)

Secret_Saving_Squirrel

He is quite hard to love..... But this was a good decision. Love all the publicity about fears that the elderly will be frittering away their pensions by taking them early and then calling in the state for support. As someone who pays crazy amounts of tax, what with paye, Vat, tax on savings, council tax, national insurance, stamp duty, and probably inheritance tax too, I fully intend to call some back in when I am old.

Squirrel x

Tilly_MFW_in_6_YRS

If only I could spell fazed (apologies, brain wasn't thinking this morning)

Tilly x

Tilly_MFW_in_6_YRS

Thanks Bookworm, I must admit clearing hadn't crossed my mind.

I think she'll have a good old time and is already speaking to people about opportunities which is great to see. She is calling the college next week just to have a chat.

She's a bright, intelligent young lady and I'm sure she will be fine.


PeaceandFreedom, thanks for the advice re her mates going. Funnily enough, of the ones applying for similar courses, none of them have had offers :eek: It will be interesting to see how she feels come September, but hopefully all will be well.



Best wishes, Tilly x x x