Generating Income from 80K

Pincher

It's still 65?


So when does the state retirement age become 66?


If he's already 65, then he is getting at least state pension, so why "no pension"?

dutchism1958

Thank you Pincher,Colsten,Big Freddiel and Xylophone,

I think Xylophone's route may be an alternative and will look into Pincher's drawdown suggestion.
He has totally no personal pension following divorce so the £80K is his sole pot to work with.To be honest he has been too trusting and had his fingers burnt with some investments in the past.
Happy to say he has got his first 2 classic cars for restoration work and a friend whose garage he can use as a workshop!.
Thanks again to all of you.
Gary.

xylophone

So when does the state retirement age become 66?

http://www.thisismoney.co.uk/money/pensions/article-1679780/New-state-pension-age-retire.html

Pincher

I was supposed to retire at 65, too, once upon a time.
So there are lucky bu99ers who can still get it two years younger than me.


Enjoy.