Take or defer pension. Advice please.

teachergirl

Actually first port of call is to see the northern lights...whenever the best time is. Then Papua New Guinea, Rwanda and Madagascar in no particular order.;)

I have been semi planning for awhile. Not to mention more running(I belong to a running club) and badminton. Join both my dogs up to be PAT dogs. Foster dogs for my local rescue and do more volunteering for the church that I belong to:rotfl:

bluenose1

If I were in your financial position I would retire ASAP, it sounds like you can do it more than comfortably. You just need to do a couple of Excel spreadsheets to work out best way to take your pension, factoring in payable tax and inflation to decide if to take pension at 55 or defer to 60.
We own a couple of properties which reduces the amount I can drawdown each year from my defined contribution pension tax free.
I think you sound like you are in a bit of shock with it all happening so fast. One of my friends was like this when she was unexpectedly offered early retirement and had to make a decision to accept really quickly. After loads of sleepless nights she said best decision she ever made.
Good luck and enjoy your travelling.

Alice_Holt

teachergirl wrote: »

Actually first port of call is to see the northern lights...whenever the best time is. Then Papua New Guinea, Rwanda and Madagascar in no particular order.;)

I have been semi planning for awhile. Not to mention more running(I belong to a running club) and badminton. Join both my dogs up to be PAT dogs. Foster dogs for my local rescue and do more volunteering for the church that I belong to:rotfl:

Sounds like you're sorted.

The best of luck.

kinger101

On those numbers, I'd retire now.

mollycat

teachergirl wrote: »

Well I obviously need to go and do some thinking and spreadsheets.

I'm not sure that you do, you know!

Read post #11 again

So well financially insulated for a safe retirement, (IMHO); Im with Klinger and Kidmugsy, retire now.

Im retiring from the NHS early at 55 in a few weeks on a fraction of your combined pension, with less equity in property and I anticipate having enough ££ not to worry in the future. *

Good luck.

* To anticipate any posts that say "we all have different needs ect"...I know this. Example given for emphasis only.