retirement plans

chesky369

With your OH's attitude, five years might be nearer the mark .............

chesky369

But I'm having the same problem myself. I'm fed up trying to find easy access accounts which are user-friendly and pay a decent (not exhorbitant) rate of interest.

pollypenny

I think we're all in the same boat with savings!


Ironic that when we had none, or the bare minimum, interest rates were 15%.

jennifernil

We have just put £15k each away in a 2 year fixed ISA paying 3.7%, never fixed an ISA for longer than a year before. Last year I put some away in a non-ISA for 3 years @3.5%, but can easily get it out for a fee of £100, so 2 years remaining on that now. We also put a little in those NS&I index linked certificates as a small hedge against inflation...too small really!

The rest we are keeping in easy access in case we need to top up income or help out the children. 3% seems to be the best I can get right now. Hoping there may be some good ISA rates soon, but as I don't have enough pension to use my personal allowance, I could move some out of ISAs if the rate was tempting.

pollypenny

We've done the same, Jennifer.

Annoyed with two things today

1) the usual guff on the radio about over-60s hogging all the wealth of the country! This pair of over-60s are still unable to shut the bank of mum and dad. Fore-ever subbing DD!

2) HSBC offering 6% to new and existing customers as long as they have 2 DDs to transfer in. Banked with them since 1970, no other accounts!

jennifernil

Mmmm, DD is now finished her studies and got a decent job, so both ours are fairly well set up now, though we do expect to be called on for loans in the future. So we need to keep a reasonable amount readily available. We have already passed on a fair chunk to them in the last 10/15 years in wedding presents and help with house purchase, more recently out of OH's pension lump sum, but still have the "big house" in reserve for ourselves if need be.

Our total pensions are more than adequate for our needs....meantime.....so might as well let the kids have the money when they need it than risk it all going in care home fees!

I have recently opened an account with First Direct, so that I could get their 8% regular saver (saving £300 pm), otherwise we are earning the reward fivers with HBOS every month, so will stick with them for our main account. We only have any DDs on it, so transferring to elsewhere is way too much hassle!