Nearly 60 - where did that time go?

MoneyWorry

I can’t believe it’s been months since I last posted. Time seems to be a funny combination of going really quickly then dragging at the moment. The main news is I have made a decision and I will finish full time permanent work on 18th November, a week before my 62nd birthday. I kept dithering and worrying about everything rising in price. Then I realised if I kept on like that, I’d still be working past 75. If I keep being frugal and saving as I do now, I will have £1295 a month from age 62 to 65 and £1395 a month from age 65 to state pension age. I’m not saying I will never work again either, only that any job will have to be part time and really suit me. It’s scary and exciting all at the same time and I can’t wait for the day. 

[Deleted User]

MoneyWorry said:

I can’t believe it’s been months since I last posted. Time seems to be a funny combination of going really quickly then dragging at the moment. The main news is I have made a decision and I will finish full time permanent work on 18th November, a week before my 62nd birthday. I kept dithering and worrying about everything rising in price. Then I realised if I kept on like that, I’d still be working past 75. If I keep being frugal and saving as I do now, I will have £1295 a month from age 62 to 65 and £1395 a month from age 65 to state pension age. I’m not saying I will never work again either, only that any job will have to be part time and really suit me. It’s scary and exciting all at the same time and I can’t wait for the day. 

 You will fine on that amount each month especially with the back up of your savings pots. I took my final  occupational pension nearly 5 years ago and have worked part time in several educational roles since.  

My pension is fine but I wanted to put in a new kitchen, new roof on garage etc and wanted to make sure my savings were reasonable. All done now. I have decided not to do any more paid work after the end of this term July 22nd. From September monthly income will be £1524 a month and will rise to about £2200 a month from July 2024 (At current prices) . Very fortunate position but have worked hard for it over 40 years. Even when just receiving my occupational pension between part time contracts I still managed to save to my various pots. You will be fine. 

Best wishes.

MoneyWorry

Thanks Baron Dale. You have some superb figures for retirement there. To be fair, this isn’t all about money. It’s all part of a plan of getting rid of any negativity and making new start. It’s been too challenging with boyfriend’s accident, my health problems and a job I hate every minute I’m there. Still waiting for boyfriend’s compensation which will enable him to draw a final line under that. Then it’s on to next stage. 

MoneyWorry

Big week this week as I have finished my Open University degree.  6 years studying, but 7 years in total as I had a cancer scare and couldn't concentrate one year.  I'll get my marks and final degree classification around 20th July.

Some not so good news is my poor cat has been unwell and I had to take him to the out of hours vet at 11 at night.  I now have an £880 bill to find.  Luckily, I do save every month so I have £550 saved already.  By the time I have to pay the credit card, it will be £650. Boyfriend is helping me out with £100 and I will transfer the balance from my clothes savings pot which has more in it than I need.

Cat is back home now which is the main thing.  I did think it was going to be time to say goodbye, but animals are amazingly resilient.

MovingForwards

Well done for sticking with your degree, July is just around the corner so get the fizz on ice!

Hope your cat is resting up and you're telling stories from yesteryear as they like to listen to our voices.

MoneyWorry

Does anyone find it’s 2 steps forward and one back with saving at the moment?  I had it confirmed last month that my dentist and the last NHS dentist in my town was closing. To be fair, I knew something wasn’t right. My last appointment was Sept 2019, they had made about 5 appointments for me since then and all have been cancelled. So I’ve no choice, but to go private. I am on NHS waiting list, but there’s 1200 others before me so won’t hold my breath. 

MovingForwards

It does seem to happen in waves, get on track for a bit and then a spanner or two gets thrown in.

MoneyWorry

I've had a very expensive time.  My poor cat has been really ill.  Didn't expect him to make it, but he has....with some large bills. The main thing is I still have him at the good old age of 17.

MoneyWorry

Good week though as paid yesterday and have updated savings pots

Teeth & Glasses £50 - All dental treatment paid for and now on a plan for check up and hygienist.

Cat £25 - Due vaccinations in August so am ok with this.

House Maintenance - £1000

Clothes £790

Long Term, Emergency, Redundancy £8025 - had to dip in for cat, but still ok.

Car Savings £6920

Gap between finishing work and state pension age £14550

Beauty £700

Clothes £750 - really must buy some!!

Holiday £3500

Entertaining £650

Still happy with progress....just wish I could get a sustained period with nothing untoward happening!!

MovingForwards

I'm pleased cat is ok.
Savings and budgets look good.
Hope you're doing ok with everything too.