Edinburgher gets cracking!

misscousinitt

edinburgher wrote: »

I'd include the rebate as part of the total for the purposes of calculations.

My employer is very sneaky - my permanent contract details a fixed amount/not a percentage. So even though my salary has risen since I joined, the amount they contribute certainly hasn't.

It could be worse - they're putting all new employees into NEST :eek: What's that - 3% a year or so (with horrendous charges)? It makes me furious that they will so cynically grab an opportunity to stick it to their workers, but for most staff, it is their own fault. The more generous pension scheme has been available for the last 5 years and if you're willing to turn down a 100% instant ROI, you're already doing something wrong.

I don't think 12% is nearly enough, even with a paid off mortgage.

Thanks for the tips Ed - I am not sure that I can afford much more in contributions, but maybe I could add a yearly lump sum depending on bonus' and dividends' if and when they happen.

We are lucky to have changed our pension provider at work 18 months ago (still 14 years of paying into an under performing highish fee pension - we were poorly advised).

The new pension provider is low fee. I can adjust things easily online and make lump sum payments; our new company financial adviser is much better than the last one who was AWOL for the last few years!

Thanks again and good luck with your new targets.

MCI

edinburgher

We are lucky to have changed our pension provider at work 18 months ago (still 14 years of paying into an under performing highish fee pension - we were poorly advised).

Before the company Mrs E worked for merged with another, they had a similar scenario, with a ridiculous annual fee being paid to their nominated advisor every year for setting up the pension. This could not be avoided (i.e. don't speak to our FA = no pension). This was in addition to fees that were already higher than they might have been. Thankfully they've moved to a more typical stakeholder arrangement now.

I hope you didn't think I was 'telling you off' with my comment re. 12%? It was a general observation from me that in my circumstances, 12% won't produce nearly the outcome I require. I'm not qualified to offet anyone advice, just what I have seen from being a money nerd and playing with one too many retirement calculators :rotfl:

misscousinitt

edinburgher wrote: »

I hope you didn't think I was 'telling you off' with my comment re. 12%? It was a general observation from me that in my circumstances, 12% won't produce nearly the outcome I require. I'm not qualified to offet anyone advice, just what I have seen from being a money nerd and playing with one too many retirement calculators :rotfl:

Ed, I really didn't think you were telling me off:).

It would be good to do the sums and find out what I could afford. I am hoping that in future years I will be able to pay more in. I know it looks like from my signature that I am ok for cash and believe me, I don't struggle - however, my basic salary is quite low really and I have to base everything on the the scenario that that's all I have to work with - anything else is a bonus.

Thanks again for all the tips - appreciated.

MCI:D

edinburgher

Monthly interest now applied to my pots and I am now a freaking millionaire :money:

8p to the Freedom Fund
21p to the Remortgage Pot
31p to the Kitchen Pot

I really don't know why I bother saving, I am clearly already independently wealthy :rotfl:

Today went quite quickly at work after I decided upon a 'say yes to everything' policy. I am now updating a 2500 line spreadsheet for my sins :eek:

• NSD
• Packed lunch
• £3 to Freedom Fund
• £3 to Remortgage Pot
• £3 to Kitchen Pot

I hear tomorrow might be Friday...

gallygirl

edinburgher wrote: »

Monthly interest now applied to my pots and I am now a freaking millionaire :money:

8p to the Freedom Fund
21p to the Remortgage Pot
31p to the Kitchen Pot

Tortoise and hare Ed, tortoise and hare :T.

edinburgher

Never mind

gallygirl

Ed - have you read Who Moved My Cheese

Sounds to me like you've been in a rut to be honest so I think it will do you good to have[STRIKE] to work for a living[/STRIKE] a change

edinburgher

Never mind

gallygirl

edinburgher wrote: »

Umm... thanks... I guess?

:rotfl:oh dear :rotfl:. Seriously, will be unsettling, but another string to your bow :T.

southerndave

Ed, I find there is a world of difference between saying yes to everything and actually following through........ :-)