4-7 Years Before Retiring....

PeacefulWaters

Triumph13 wrote: »

Obsessed? Let me think...

• Graph of my pension fund value with weekly data points for the last 2 year? Tick.
• Disappointed when I ran out of different ways to model my retirement strategy and had to stop playing with my spreadsheet? Tick.
• Do a meerkat impression whenever I hear anyone at work discussing pensions then go and explain to them how the scheme / LTA rules / Single tier pension actually works? Tick.

Oh dear...

Guilty of all this. Then I got divorced instead.

peterg1965

Dilemma - obsessed with planning to stop work (don't really like the word retirement) but on the other hand, i do not intend to wish my life away by counting the years/days.

Having said that, I regularly get told off by the wife for talking about pensions. She hasn't got a clue about them, and tells me to shut up when i try to explain! So, its a good job i am tracking her NHS pension and I have also set up a SIPP and contributing regularly. Her job will be to sign the forms when i give them to her in the next 3-5 years or so!

I have three pensions, one FS already in payment, maintaining a career and syphoning as much as i can into my company DC scheme (14% of salary) and my SIPP. The aim is for £60k+ of pension income before i hang up my boots in 5-6 years time!

ETA, already making sure that we both qualify for the full SPA, which will add another £16k to our income between 2029-2032!

Stubod

..OMG ..all the above sounds sooooooo familiar.....the endless spreadsheet analysis, lack of TOH understanding or interest...a life passing by......oh dear..is there a self help group we could all join anywhere...

westv

I'm Westv and I'm a pensionolic.

PeacefulWaters

Stubod wrote: »

lack of TOH understanding or interest....

I cited this as one of many examples of unreasonable behaviour!

Stubod

..Im Stubod..my wife doesn't understand me....and its been 3 days since I last looked at my retirement spreadsheet..

ex-pat_scot

atush wrote: »

I would adress this issue pronto. AS her PA will go to waste (apart from the 1K she can lend to you).

Try not to pay tax, if you dont have to.

I'm getting 62% relief, plus a bit of ers NIC, on my contribs. I see that as the compelling reason to be bunging it all in my fund.

I know we can put £2800 into hers as a non-earning person, and get BR relief.

I don't understand what you are getting at on the "1k she can lend to you", unless you mean the married couples' allowance, to which I am not entitled. I earn too much

GazHol

End of this month I will have 3 years til min scheme exit, 25.5 years in DB (toh has 28 in same scheme - and can take it at 60), 2012 onwards in new CARE scheme. SIPPs (toh is non taxpayer part time LGPS CARE with rest of income going in SIPP), so ISAs and SIPPs to take us from work exits to 60, then DBs kick in (I can take DB from 60 with no reduction at company "discretion" - can't see that still being the case post 2020!!).

As for obsession, most of the threads I follow on these forums are on the Pensions, Annuities & Retirement board...

Spidernick

ex-pat_scot wrote: »

I'm 8 to 10 years out.
It's VERY front of mind at the moment - partly a function of being fed up at work, generally overworked and too tired.

I agree with this. I turned 50 at the end of last year and also seem to be tired all the time. I'd retire tomorrow if I could and there is no way I am going to work until I'm 67, and feel sorry for anyone who has to work until the state retirement age (my dad worked to 65). I've done over 30 years and that seems enough to me, let alone potentially almost 50 years.

Although not obsessed with it (my wife might disagree!) I am working towards retiring by the time I am 60 and have a spreadsheet that is not as detailed as some mentioned here. That will be more than enough work to my mind.

t0rt0ise

I have to work until state retirement age which for me is 66 in 2020 but I did leave my full-time job last year and found a part-time job. Fifteen hours a week now is enough until retirement. I'll never be rich in retirement but my spreadsheet tells me I'll have just about enough.

I can however already see me falling into the just one more year trap and am thinking that if I get used to working these two nights I could carry on.. and on.. and on.