The Senior Wonder Years!

[Deleted User]

Well from today I am officially of state pension age ! Gulp!

On reflection I have much for which to be grateful.

I am generally healthy and, although single, have  a loving extended family.

I live in a fully paid for house and have no debt.

From today my total annual pension income rises to just over 34500 before tax and just over 30000 net. 

Fortunately my DB pension and state pension are both, currently, fully index linked. My very small annuity can vary from year to year,  but has always been in the £42 to £46 per month range lol!

As I have mentioned before I do not have a large amounts of savings and investments but enough to not feel vulnerable especially as my annual income is guaranteed for life.

By July 2025 I will have a core amount of £30000 spread evenly between a Cash ISA, a S&S ISA and Premium Bonds. At the moment it stands at £25000. This core amount should not need to be touched. 

I will continue to add £100 a month to the S&S ISA. I may make ad hoc payments to the Cash ISA.

From January next year the plan will be to add about £1000 a month to a savings account I have had for years. The money will be used to cover all Annual Bills, Christmas, Clothing, House and Garden as well as Travel and Activities.

I will continue to send £400 a month to my back up current account. This will continue to cover, birthdays, fuel, dentist, hair and chiropodist and miscellaneous spends such as meals out.

For the time being I will continue to send £650 a month to the joint current  account I have  with my older relative to cover monthly living.

So all in all I am feeling content this morning. I have made it lol!

Nothing too much planned for today apart from a family meal in a restaurant this evening.

Now to get up, do my daily exercises and work at looking my best for the day   

Best wishes to all.

Ali660

Congratulations!  Enjoy your day and have a lovely evening - what a great feeling 

foxandflowers

Happy birthday @[Deleted User]. I hope you have a lovely day.

Skint_yet_Again

Happy state pension day Baron_Dale. 😁 You sound financially secure and happy. Enjoy your birthday meal with your family. 

helensbiggestfan

Happy Birthday. 🎂🥂.  Have a great day.   

[Deleted User]

I have also decided  no more 'what ifs' or comparing myself with others ! Time to relax and appreciate!

Thank you all for your best wishes!

helensbiggestfan

"comparison is the thief of joy".   

The beauty of retirement is you no longer have to live within the maelstrom,  you can just step away, be comfortable in your own skin and be your authentic self.  It doesn't take riches beyond the dreams of avarice, just as long as you have enough.  

Your figures stack up, you are safe and secure.  You have planned well and worked hard to achieve your goals, now it's time to enjoy the fruit of your labours.  

March to the beat of your own drum and be happy.  

Still not found my dream house yet.  No worries, it's out there.  

Humboldt

Congratulations @[Deleted User].  Enjoy your special day.

sheilavw

Happy Birthday Baron Dale, have a great day

SuzeQStan

Happy birthday to you! And happy state pension day enjoy you have worked hard for it x