The Senior Wonder Years!

[Deleted User]

Thanks Organgrinder. I am not looking for any paid work now but many thanks for the suggestion. My teacher's pension and small annuity is sufficient for my needs until I reach state pension age next July.
I am not sure I would enjoy the responsibility of exam marking. If I needed any extra money I do have an open ended contract at my school for exam invigilation that is completely stress free and would pay about £1500 over the course of the academic year. At the moment I cannot see myself doing this.
Perhaps consider if you really do need £40000 a year between you from the ages of 60 to 67. What income would you have if you retired at 60? Would you not also have a lump sum that you could dip into between the ages of 60 and 67? Just an idea.

[Deleted User]

Organgrinder I have just re-read some of your previous posts on the How Much To Live On thread. I am a bit confused on how you will increase your savings to £90000 by age 60. Does that include some lump sum money from other pension schemes?

Organgrinder

Not just me. My wife aswell. With regard savings I have a dc pot of about £32k currently. I have a savings plan for approx £45k at 60 and my wife has a SIPP for about £27k. Recently we uncovered another pension of about £3k pa too from a scheme that went into PPF.

These are in addition to three DB pensions I have and two DB pensions my wife has. Our DB pensions are approx £25k - the state pension on top another £21k. Plus the above....when posting I often understate oir position.

I took lump sums from my non teaching pensions. Was going to pay off the mortgage but it's now invested as it gives a net £8k return in comparison to paying mortgage off. This has funded a new car.

My plans are quite fluid as I'm happy to change the way I fund my retirement. Hope that sort of makes sense.

[Deleted User]

Organgrinder, many thanks. I understand now lol. Looking at those figures you should be fine.Best wishes.

Skint_yet_Again

I have read your plans with interest and bookmarked for future updates. 

Clowance

Always enjoy your posts and I am in awe of your financial organisation. I get my state pension in 3 weeks, can't wait (although still working part time).

[Deleted User]

Clowance, many thanks for your comments. Are you able to give any information about your plans financial or otherwise. Welcome to the thread.

[Deleted User]

Skint_yet_Again Many thanks for joining me. I always enjoy your thread and your awesome approach to budgeting.
I am pleased you have settled so well in your new home. Any updates regarding your pensions? Do you think you may in the longer term work a few hours here or there?

[Deleted User]

Fairly busy morning. After cutting my hand :'( unloading the dishwater last night I realised the First Aid Kits needed some additions so I went to town this morning and used one of my birthday gift cards to buy some more plasters, antiseptic cream and wipes...etc... Those plus a couple of toiletries came to £23.24 so £1.76 left on that card! Visited the the Hospice shop and bought another 5 books for £5. Final stop at Dunelms to buy some new towels and a clip on rack for the shower, total spend £59. After coffee and croissants at home I sorted the two First Aid kits and the ensuite. I have updated the money pots and now getting ready to go for a forest walk.
I did mange to do most of my morning exercises even though the press ups were a little tricky with a bandaged palm! 

Organgrinder

Well being rather budget conscious at the moment I've just been offered an energy fix 6% below current price cap.

Forecasts are a 5% reduction in October and 2% rise in January. So I figure it's worth a punt.