Brogden's Debt Disaster & Self Managed DMP!

Brogden

Thank you everybody. I haven’t been managing my thread very well…….I’ve been all over other peoples’ threads and not spending much time at home, but hopefully better late than never.

Something I have not so far mastered is putting multiple quotes in one posting and if I reply to everybody individually the thread gets so damn long that even the most interested and patient person could easily start swearing and chuck me in the bin…….:o

There is a large bright red car parked on the drive. The neighbours have put it there whilst on holiday (with permission from the Brogden estate I should add) and every time I glance in that direction I think ‘what the hell is that’ or….. 'am I seeing red?’ It’s strange that we expect things to be a certain way and when something is a little different it is sad that one can so easily become disorientated …….I’ll try and concentrate……. ‘ere we go……..

PinotGrigio41

Did you see that everyone? Mrs. PG visited my thread……just one word……WOW!! :j My Dear Pinot (if I may be so familiar)….I spent months and months reading your posts and now we don’t get much do we? Its not good enough :mad: You have the most fluid writing style which is so human and so feminine. Also, when you are angry you are sooooooo funny (sorry!) Please start regular posting again for the good of everybody

Ali-OK

Thank you Ali. You sum up the ‘work-drain’ very well indeed although I don’t tend to spend a lot on handbags, even in the corporate arena . If I do make the transition from being a corporate pawn to being a real person, I am hoping I can do that just half as well as you have :A.

Alex

Thanks …..I didn’t ever get the biggest mortgage I could have got but the culture of the time did cause me to see things in the ‘wrong’ way and to strive for and to spend on things that didn’t do it for me. So……..let’s not beat about the bush…….no !!!!! footing…….the WRONG way……it was the wrong way…..it was………period.

Skinny

Hiya Skinny . That is a very short post but…….. ‘waiting in suspenders?’ Well, you know how to make an old Brogden’s heart pound!!!!!!!! I couldn’t think about anything else!!


NOAh

Aaaaaah the lovely ‘masked marauder!!’ Again a beautiful and spiritual post from NOAh. I put a big post on your thread actually – have a look when theres ‘No One Around!!’ Oh my god……….sounds a bit ‘shock and scandal’ that doesn’t it? Its not……anyone can read it…….:o

Sorry I’ve not included any ‘Brogden Improvement Measures’ (B.I.M’s) here. Glad to hear you’re all interested but wonder why? Do I need to improve? Are you saying I’m not good enough? (…….paranoid android.)

Speak soon and I promise some B.I.M’s in the next post.

Brogden

Brogden

These posts aren't coming too thick and fast are they?

It is much easier to post regularly when everything is uuuurgh.....'normal.' As I have mentioned I am redundant but still hanging around in my job for what will probably be quite a while yet although I won't be going anywhere near the office. I initially thought I would strive to be redeployed and make internal applications but I haven't done anything about that at all and I have now come to a decision (I think)..........I am not going to :eek: !!

Obviously this exposes me to some risk :eek: (again) but...my thinking is:-
1. If I am successful in getting a new job with the same firm, it may be a low risk position that could go on forever. When I want to retire I would just resign. Basically, I may never be made redundant and may never get this payout which is due late this year if I want it.

2. I am thoroughly pig-sick of everything to do with the place (I know that nobody is surprised to hear that )

There is one single reason that I have put up with this company for so long..........THE PENSION

If I leave then that is the end of Brogden's relationship with final salary / defined benefit pension schemes. I say this with absolute certainty because virtually no employer will or can afford to offer this benefit.

If everybody hasn't fallen asleep (be careful if you're holding a hot cup of tea/coffee) I will come to my third deciding factor..........

3. My contract of employment is somewhat old and is now something of an antique. My definition of pensionable earnings includes an average of my last three years bonus payments. The only bonus now available is the pleb's bonus scheme, originally designed for the office cat. No more the high life / big bonuses / matching tie and hankie / conventions in the sun .
The upshot is.......over a period of three years, my pension by dint of extra service will increase BUT my pensionable earnings will decrease and following hours of number crunching I calculate my anticipated pension will stay roughly the same as it is now. That is NOT a good position, particularly when I bear in mind my employee contributions are around £200 a month . I can, however leave with my earnings and resultant pension frozen at this old fashioned 'inlated' level !!

The time has come :eek: !!

At least I can leave without a tear . All my old pals are long gone but happily we are all still in touch. Brogden was the one obsessed with the pension scheme to the extent that it caused him to walk down corridors of fire, endure unendurable pain and work with unspeakable numpties :mad:

No talk of debts, no talk of mortgage just pension and employment in this post. My head is full of ideas and thoughts on the latter but there is only so much pain I can inflict on my readership !!

Have a great weekend everybody and speak soon .

Skinnylatte

That sounds like a plan you've put a lot of thought in to, and also sounds like the entirely the right thing to do,
It also leaves the future open to any number of possibilities, and isn't that just a little bit exiting!!?

Brogden

Skinnylatte wrote: »

That sounds like a plan you've put a lot of thought in to, and also sounds like the entirely the right thing to do,
It also leaves the future open to any number of possibilities, and isn't that just a little bit exiting!!?

Good morning my dear

It is certainly 'exiting' I'm not so sure it's 'exciting' though !

I get a bit uneasy if things are too 'exciting' though As you get older you realise its the boring things in life that are the things that are good for you :rotfl:!!

B x

in_need_of_direction

Isn't it odd how things work out? I'm sure you're glad mrs b stayed working although I know it wasn't for financial reasons at the time. Your logic totally stacks up plus you spend so much time at work, there needs to be some happiness in it.

Skinnylatte

Brogden wrote: »

Good morning my dear

It is certainly 'exiting' I'm not so sure it's 'exciting' though !

B x

Frueden slip me thinks :rotfl::rotfl::rotfl:

Brogden

in_need_of_direction wrote: »

Isn't it odd how things work out? I'm sure you're glad mrs b stayed working although I know it wasn't for financial reasons at the time. Your logic totally stacks up plus you spend so much time at work, there needs to be some happiness in it.

Thanks INOD

Mrs B started the job for financial reasons but ended up staying because she had made so many friends. It is true that work is good for us - sorry to say it folks . Getting up and pushing ourselves and later breathing a sigh of relief that it is over is good for us . We then really appreciate our free time, unlike retired couples who just spend every day arguing about whether the grass should be 14mm or 15mm high :rotfl:!!

I would like to get to a position where I knew I could retire but choose to keep working for a bit .

B x

Brogden

A happy weekend to everybody .

Since my last post, I don’t think I have changed my mind……..I am not proposing to apply for any roles with my current employer as the redundancy pay off is too much for me to pass by. I have started to put my head out of my shell and am speaking to a few people about possible positions but let’s see…….

I have spent literally hours and hours on my own personal finances and I am obsessing about pensions and mortgage. I am embarassed to say these have eclipsed my debt problem a little. I must give myself a good talking to…..

It is my intention to get a new position before the end of the year to enable me to pay the whole of my redundancy payment into pensions. The taxable element will be sacrificed as a contribution to my employer’s scheme and the first £30k will be a contribution to a new SIPP…….that’s the plan anyway. This will have the net result that I will effectively have paid no tax in this 2015/16 tax year. I hope I don’t get kicked out of the country.

The mortgage is at the top of my priorities but I don’t think I would just slap the money straight in. By using the pension schemes I obtain the tax relief…….if I can manouvre myself into the position of staying below the higher rate tax threshold, down the line I can withdraw funds each year, taxed at 20% to make overpayments to the mortgage……and I have my 25% tax free cash allowance. All in all I think this is much more efficient than just chucking the money straight into the mortgage account. :cool:

As I am hoping to make in the next few months the largest pension contribution that I ever will, I have reduced my defined contribution scheme amount down from £300 and a bit to £38.01 for each of the next few months. Sounds mad I know but I can only get tax relief on contributions equal to my earnings in the tax year and not above so what’s the point of scrimping now to pay contributions when I can do the lot in one go later in the year? I might as well use any surplus income now to kill some…..errr…….irritating little debts which have bugged me for too long…….new mission……new mini project. I’ve not forgotten about debts after all – what a fine chap :A


Finally……a big debt will finally be ‘slayed’ in a fortnight. It’s my Hellifax debt with Carboot……final payment under the protracted P&F scheme of £200 and a bit and I can then post a signature reduction in the 000’s. :T

Sun is shining, the birds are singing, the cat is stalking and I need to go to the loo.......have a great day


Brogden

Skinnylatte

Wow, I'm quite in awe of how you worked all that out. Look forward to seeing some movement on your signature :T

Sun is shining, the birds are singing, the cat is stalking and I need to go to the loo.......

:rotfl::rotfl:

Brogden

Skinnylatte wrote: »

Wow, I'm quite in awe of how you worked all that out. Look forward to seeing some movement on your signature :T
:rotfl::rotfl:

Thanks Skinny

Is my signature progress not fast enough for you?

I must try harder !!

B x