Soa

MoneyWorry

Agree with you Goldie. I was contracted out too albeit to a mediocre personal pension. My forecast was £123 per week, but I will carry on working till I gain the flat rate. If the OP is my age 55 and has been contracted out, they could easily be looking at a similar sum or lower.

petsitter2000

Mojisola
that is to claim state pension

My occupational pension early retirement is 25 and at least attain the age of 50.
I have to retire at age 55 in my profession. But I don'r have the full 30yrs in.
Moneyworry What is SPA?

Goldiegirl

SPA is State Pension Age, which will be at least 66 for you.

I was contracted out for many of my working years, and my projected state pension is £126.17. I will be making voluntary NI payments, so I can bring my state pension up to the full single tier amount.

Petsitter, I'd suggest you visit the pensions forum on this board, to educate yourself about state pensions, and get yourself a pension forecast - you'll find out how by reading threads on the pension board

triple_choc_chip

Ref. Saving for a 2nd hand car - will you have an option to purchase the one you have now? As you have it from new and will be the sole owner it would seem this would be a safer option than buying another vehicle that may not have been treated so kindly.

Money_saving_maniac

petsitter2000 wrote: »

Edwink
Yes I am getting sing occupancy re council tax. Have just switched gas and electricity.
I intend to batch cook and freeze. Made a huge pan of chicken curry yesterday and froze 5 portions!
I don't buy newspapers or magazines. I read online for free.
Luckily I don't have any prescriptions.
Yes I'm on a water meter.
I am looking into getting a lodger and I must say that a Monday to Friday one sounds very good.
Brightspark87
I am an Aldi convert now and have just signed up for the December Grocery Challenge. Starting with £30 per week. (or at least I think I've signed up)
I am 55 so think I have another 10yrs until I can claim state pension.
I will pay off my credit cards and loan from my lump sum. That will leave me £25k to bring my mortgage down to about £450 per month.
Money will still be tight so will probably need a part time job at some point.
Can i ask if anyone makes money out of doing the surveys and matched betting on here?
I have tons of clothes and junk so am slowly putting it on Ebay. Anything extra I make will go towards a second hand car fund. I may buy one in 3yrs and keep it for as long as possible.
Are there any other income ideas that I could do from home?
Once again thanks for all the suggestions and support.
Ps.

Hi Petsitter, 55 is very young to be retired and at home alone, with no social life.

I feel that you would be better off getting a part time job, as you said you had to retire at 55 I'm thinking you are ex forces/fireman/policeman which would in fact stand you in good stead to start a second career for a few years if you wanted it. I think you will find your state pension age is 66, not 65. You can check it here

https://www.gov.uk/calculate-state-pension/y/age/male

Sitting at home with no money and no social life at a young age is going to make you old before your time if you ask me. All your social life revolved around golf, you need to play golf and keep up those connections. So you need money to spend.

And if you don't take a job or similar, in 3 years you may find that you have no car so you are young, isolated, no car, no social life, and been out the workforce too long to find another job. You are too young to retire unless you are really well off IMO.

If you are absolutely determined not to go back to work, perhaps you could consider getting a lodger and joining up a company as a housesitter. This would enable you to get some money in without 'conventional working' and is ideal if you are single with no committments. There are plenty of companies out there

http://www.homesitters.co.uk/become-a-sitter/
https://www.trustedhousesitters.com/gb/

though with a posting name Petsitters maybe you have already gone down this route?