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A Paupers Pension Tale (Not many nuts to dig up)

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  • Sea_Shell
    Sea_Shell Posts: 10,028 Forumite
    Tenth Anniversary 1,000 Posts Photogenic Name Dropper
    Our current car was an ex manager at the dealership's one.  Most bells and whistles included. 😎 

    It had 4500 miles at 15 months old for £11,000.   New price £23,000.😲

    It's now 6.5 yrs old with 19500 miles on.  Still looks brand new, so no plans to change it any time soon. 😇
    How's it going, AKA, Nutwatch? - 12 month spends to date = 2.60% of current retirement "pot" (as at end May 2025)
  • Gambleruk & co what’s happened to this blog? I have just came to the end and it stopped in January 2022! Did you start a new one for new year or has there been a change in circumstances? Great read would love to hear more about how your doing in these strange times 😳
  • bluenose1
    bluenose1 Posts: 2,767 Forumite
    Part of the Furniture 1,000 Posts Name Dropper
    gambleruk  Very motivating for the likes of me who are hoping to go in next year, saying that I will have had 6 holidays this year, one to Florida so at least I am enjoying myself in the run up.
    I am 56 and definitely getting the odd twinges in my knees etc despite exercising and doing mobility movements etc. Do see the logic in retiring while still young enough to fully appreciate it if you can. Not sure how many more years I can take those rollercoasters in Florida….

    I’ve looked at a couple of times at the ninja air fryers but I haven’t got much workspace, so keep putting it off. 
    My Best Buy has been my Dreamland heated throw, definitely saved me putting heating on as much. In fact just ordered another as my son seems to think it is his.
    We won’t talk about the yoghurt maker I bought that got used religiously for a month but hasn’t seen light of day since or my Lakeland electric potato masher.😆



    Money SPENDING Expert

  • Thanks guys and gals for replying it is really motivating to know we don’t need loads of money to live a good life (good job because we don’t have loads 😉) healths always more important.  My husband is 60 in December and I am 58 and hoping to stop working in around 3 years. Wish I had read these threads more years ago! We will bridge the gap between with savings and my husband has a couple of small pensions. However, I am a bit worried we won’t get full state pension if we stop 4-5 years early even though we have full records as both worked since 16 any advice welcome. I have been debating about an air frier too but size puts me off 🤔
  • NannaH
    NannaH Posts: 570 Forumite
    500 Posts First Anniversary Name Dropper
    Set up Government gateway accounts and see how you stand,  it would be very unusual not to qualify for full State pension at your ages.   My husband had qualified by age 55,  I’m short 7 years but am making it up via specified adult childcare credits ( looking after grandkids basically) . 
  • Albermarle
    Albermarle Posts: 27,924 Forumite
    10,000 Posts Seventh Anniversary Name Dropper
    However, I am a bit worried we won’t get full state pension if we stop 4-5 years early even though we have full records as both worked since 16 any advice welcome. I have been debating about an air frier too but size puts me off 🤔

    Check your State Pension forecast - GOV.UK (www.gov.uk)

    You can always buy missing NI years, if you need to after checking your situation. It is definitely worth doing as they are a bargain.

    Apart from the size of air fryers, I did some research into electricity usage. There is quite a lot of misleading info, especially over the power usage of a conventional oven, which have a high power rating, but they only really use this when heating up. Although they do seem to use about 50% of the electricity, my  estimate was that you would actually save just one or two pounds a week, depending on how much you used it. Plus they seem not to have a long lifespan, so unlikely you would make a profit. Of course if like Gambler UK, you like the results and it fits your cooking habits, then it will be a good buy.

  • Hi, thanks for reply's I have checked both and this is what it shows.

    You can get your State Pension on 28 May 2031

    Your forecast is £185.15 a week,
    £805.07 a month, £9,660.86 a year

    Your forecast

    • is not a guarantee and is based on the current law
    • is based on your National Insurance record up to 5 April 2022
    • does not include any increase due to inflation

    £185.15 is the most you can get

    You cannot improve your forecast any more.

    If you’re working you may still need to pay National Insurance contributions until 28 May 2031 as they fund other state benefits and the NHS.

    View your National Insurance record

    Your forecast may be different if there are any changes to your National Insurance information. There is more about this in the terms and conditions.

    You have:

    • 42 years of full contributions
    • 9 years to contribute before 5 April 2031
    You do not have any gaps in your record.

    but does this mean I need to work till 2031 to get this or if I finish work in 3 years would I still qualify for full state pension?

    Thanks in advance.
  • NannaH
    NannaH Posts: 570 Forumite
    500 Posts First Anniversary Name Dropper
    No,  you are good to go.
    It just means that if you still work and earn over the NI limit you still pay it. 
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