Keep calm and carry on....

savingholmes

Good to know where it all went that's half the battle.

South_coast

Indeed SH, although it was a right faff working it out 😦

Thought I'd cheer myself up with a balance update, as there's still so long until payday and my re-entry to OP'ing:
Current balance £28,017.48 (still!)
Savings for OP £2,000.97
Net balance £26,016.51

At least it will go down with a standard payment next week, then I get to OP. At the very least, I need to remember that every passing month takes me a month closer to MF whether I OP or not! 

Jessy103

You're doing great SC! I know it's hard at the moment but just try to think how far you've come and how much better off you are already x

South_coast

Thanks Jessy ❤ I'm not feeling the love today though, as I've received the pension statement from my old job 😮

What was £20.7k is now £19.2k 😮 Estimated value £713/year (gross!) 😮 Can't log in to my current one as it looks like the website is down, but the value was broadly similar. I have a 3rd pension which is now apparently £1.9k (I thought it was more like £3k last time I checked!) and while I was doing the balance enquiry I checked my ISA as well and that's now £4.1k down from £4.8k. How on earth do people afford to retire? I'm on a decent salary, with low living costs and have always contributed more than the minimum, yet the amounts I've got are tiny 😯

themadvix

SC, remember they’ll have taken a big hit recently - my losses have been shocking too (-25%, which is worse than yours). But they will bounce back.


Look on the bright side, if the income is £700/year at least you won’t have to worry about whether that’s net or gross! 😂

South_coast

Well I did think along those lines as well, don't think I'll be challenging the personal allowance threshold at that rate! I'm just thinking that if I want to spend 12 of the next 15 years on a much lower salary and then retire (I think 15 years is what I need to get the full state pension) then I really should have a lot more than £40k right now 😯

Jessy103

SC, I may need your advice on pensions! At least you're organised, i've only just got my first pension at the age of 33, it's currently at £2k. I'll never be able to retire! 

themadvix

I know the feeling, SC. I had (before the latest crash) a similar amount in mine.

 Jessy, I was a late starter, being self employed. The key is just to put as much as you can in really - most FIers would argue it’s more important/a better use of money to pay  into pension/invest than pay off mortgage... but it’s not as easily achievable!

Jessy103

Thanks vix, I'm putting an extra £20 into my pension a month, I know it's not much but it's a start. I think after we go back to some normality I will look at increasing it through work.

South_coast

I am clearly NOT the person to be giving advice Jessy! BF has also received a statement today (we used to work for the same company, so theoretically have the same pension) and says his has stayed much the same 😢 We must have them in different funds 😡