We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
year before retirement - how did you get your ducks in a row?
Comments
-
There were a few things we got sorted out in the 2 years leading up to retirement. Any big items the house would next in the next few years got sorted, so new doors and windows, new boiler and a new bathroom
It is not the first time people have posted that they got many major house jobs out of the way before retiring. However I am not entirely sure of the logic behind doing the jobs before rather than after retirement- assuming that suitable finances are in place for retirement of course.
0 -
Well ahead of my retirement I made sure I had no debt ie no mortgage or car loans. Then I lived for a year on my projected retirement income. When I retired my income level fell drastically as I could not yet access my DB pension so I qualified for some government benefits and spent time working on how to manage those. I consolidated my DC pensions at a single company. Then I took advantage of my new "free time" and went on a 2 month bicycle trip.
And so we beat on, boats against the current, borne back ceaselessly into the past.0 -
Not the case for my DB pension. My pension provider does not start the ball rolling until the employee has given notice on their post. I gave notice at the end of March, left my job at the end of April, received my lump sum in early May and got my 1st pension payment later in May.
1 -
needn’t mess with your tax
0 -
0
-
I was a US state government employee and when I retired I had to fill out forms to organize my continued life and health insurance coverage and to give a date when I wanted my DB pension to start paying. Everything happened as planned and I've been getting monthly pension payments for the last 10 years.
And so we beat on, boats against the current, borne back ceaselessly into the past.0 -
I guess if costs spiral higher than expected it's always possible to work another month or two - easier to do it while still in a job than have to look for additional income afterwards.
0 -
I’m aiming for a decent buffer before retiring as we’re saivng so hard right now. so we could wait until after, but dpeending how burned out I’m feeling I am tempted by the idea of spending 6-12 months to do some work pre-retirement to keep the buffer untouched. Home stuff especially can suck up money at a rate of knots.
may need new windows, might take the opportunity to swap one door+window with sliding doors to the garden, and toying with a pergola and/or garden room. 50k easy if we aren’t careful
0 -
Agreed, he’s such a shill 😗
0
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 355.2K Banking & Borrowing
- 254.7K Reduce Debt & Boost Income
- 455.9K Spending & Discounts
- 247.9K Work, Benefits & Business
- 605.1K Mortgages, Homes & Bills
- 178.8K Life & Family
- 262.8K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards