It's time to start digging up those Squirrelled Nuts!!!! 29 June 2019 at 2:14PM edited 30 September at 8:59AM in Pensions, Annuities & Retirement Planning 1.4K replies 198.2K views

badger09

saver_ali said:

bigfer said:

saver_ali said:

One thing that I realised yesterday is that OH and I need to use our Halifax Clarity Credit cards again so they don’t close the accounts. As retired people I think we might have difficulty getting new cards. We normally only use the cards for foreign travel, to get good exchange rates and low charges, but we haven’t been abroad for over a year now. 

I never knew that. Every family member has one, does every card need to be used and if so how often? I only got them for the cash out of ATMs abroad, but have now gone down the Starling Bank route. Thanks in advance.

I think it depends on the company, but I have had unused accounts from other banks closed in the past. DH and I both had emails from Halifax last month saying that they would close down our online access if we didn’t log on, so I didn’t want to take the risk that we might lose the cards too. It can be very hard to open new credit card accounts once you’ve retired, regardless of your credit rating. 

Halifax, and every other credit card provider I've ever used, will always write to you on the lines of ' We notice that you haven't used your card for some time.  We will close your account/not renew your card etc ..on xx date. However, if you wish to retain your account, all you have to do is use your card before xx date'

I've had a couple of those in the last 12 months. I've simply used the card for a small online purchase if I want to keep it active. In fact, I try to use all of them at least once a year.

Sea_Shell

Good Morning Everyone

We got back yesterday from another little trip away, just 4 nights self catering, which was lovely.   Some nice walks, and as they had an indoor pool i even managed to get a couple of swims in.    I've not swam since March, and it was lovely.   There were only 2 other people in it the first time, and the next I had it to myself and was the only person who'd been in all day!!!

I need to investigate other local pay-as-you-swim options, as 2 of my local pools are no longer accepting Hussle passes and they are booking slots for members only (don't want to commit to a membership at the moment)

On the cash side, we'll probably just keep about £50 physically on us, but also keep our joint TSB account open, with say £100 in it, but we'll close down the 2 sole accounts, and i'm in two minds about my sole Club Lloyds (once my RS matures)

Our ISA's appear to have don't quite well while we were away.   Will it last??

cfw1994

Sea_Shell said:

Good Morning Everyone

We got back yesterday from another little trip away, just 4 nights self catering, which was lovely.   Some nice walks, and as they had an indoor pool i even managed to get a couple of swims in.    I've not swam since March, and it was lovely.   There were only 2 other people in it the first time, and the next I had it to myself and was the only person who'd been in all day!!!

I need to investigate other local pay-as-you-swim options, as 2 of my local pools are no longer accepting Hussle passes and they are booking slots for members only (don't want to commit to a membership at the moment)

On the cash side, we'll probably just keep about £50 physically on us, but also keep our joint TSB account open, with say £100 in it, but we'll close down the 2 sole accounts, and i'm in two minds about my sole Club Lloyds (once my RS matures)

Our ISA's appear to have don't quite well while we were away.   Will it last??

Stocks are doing well.....we've had almost 2 weeks away (including 3 nights in an AMAZING treehouse!), and in that time my main DC pot has grown almost 5% - I need to take more holidays!
Will it last?   My money is on "no".   But then, the world is a curious place this year, so who knows!
You have got me googling "hustle passes" now - sound interesting!

Sea_Shell

Hussle worked great for me, as I just wanted to swim once a week.  I used to buy the 5 tickets valid for 30 days.  That way if you bought it the day you first go, you get 5 weeks swims in!!  You then don't buy the next one until week 6 IYSWIM.

They used to be called Pay as you Gym.

I'm not sure their business model is working very well at the moment, due to the current number restrictions and "booking for members only" policies in place.

Stubod

..anticipating another "drop" in the near future, so now that our "pot" has almost returned to where it was pre covid we have decided to take out one larger lump sum to cover next years outgoings rather than take out smaller amounts each month. It looks like next year will be another one "below budget" as I guess we will still not be traveling anywhere.

We did intend to change the car but seems little point at the mo as we haven't done that much mileage...

sxgirl

saver_ali said:

It can be very hard to open new credit card accounts once you’ve retired, regardless of your credit rating. 

Just catching up with this very varied and useful thread. Is there info about this elsewhere? I’ve been wondering whether we will be able to benefit from current account switching bonuses, now that they’ve started to re-emerge, as we’re recently ‘retired’ but living partly on savings.

Sea_Shell

sxgirl said:

saver_ali said:

It can be very hard to open new credit card accounts once you’ve retired, regardless of your credit rating. 

Just catching up with this very varied and useful thread. Is there info about this elsewhere? I’ve been wondering whether we will be able to benefit from current account switching bonuses, now that they’ve started to re-emerge, as we’re recently ‘retired’ but living partly on savings.

Glad you're enjoying the thread.

I'm not sure there is any specific information (list) about "income qualification" for any new accounts, other than the usual provisos of must pay in £X per month etc.   However, I'm not sure how banks would react to £0 income, they might assume you can't then make the monthly payments (which is daft of course!)

Personally, we've decided not to chase accounts any more, unless any really good deals come up, as we're looking to simplify our finances.   Luckily this shouldn't mean having to apply for any new accounts whereby our "income" is a question.

Sea_Shell

Good Morning everyone

Well, we're getting towards the sharp end of the year, and it's nearly time to do the final "scores on the doors".      We're estimating to have spent approx. £11,300 this year, which is actually slightly up on last year.     This is despite only getting 2 short breaks away, but we have spent some money on household stuff.    Will do a full tot-up/comparison for year end.

The investments are holding up, quite well considering, still up on last year, with the total pot up 4.2% for the 12 months to date (end Nov).

shinytop

Sea_Shell said:

Good Morning everyone

Well, we're getting towards the sharp end of the year, and it's nearly time to do the final "scores on the doors".      We're estimating to have spent approx. £11,300 this year, which is actually slightly up on last year.     This is despite only getting 2 short breaks away, but we have spent some money on household stuff.    Will do a full tot-up/comparison for year end.

The investments are holding up, quite well considering, still up on last year, with the total pot up 4.2% for the 12 months to date (end Nov).

That's an impressively low amount considering you don't appear to lead a frugal or miserly life, well done.  

We've had a lot of expense (and more to come) having moved house this year.  Our investments are doing pretty well considering; in fact if someone could guarantee  last year's rise every year I'd bite their hand off. I'd prefer a slightly smoother ride though 

cfw1994

Nice results, well done!

Every year you live AND The Pot grows has to be a good year....even if it is 2020
To be fair, the lower spending is perhaps countered by a lower pot growth potential.....in a “normal” year, you may holiday more, but the pot may (hopefully!) grow more.  Of course, 4% is good too, but maybe you could expect more....
Out of interest, do you count your finances by calendar year, as your post suggests, or to financial year end?