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Today I Bought .....

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@BlueKnight @BondandBigM is a toy boy 'cos shes 93.

 

4 minutes ago, deano1956 said:

this week i set the wheels in motion had to get a IFa as I have accumulated 5 pensions in my working life, three Defined contribution, and two final salary , hope to retire at least a year  if not more ( fingers crossed) before my state pension @66. I also am hoping they start throwing redundancies out in this next year , been there 12 years so that would be a good leaving prezzie .

deano

i hope you make it mate 

too many retire and drop dead within 5 year. 

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10 minutes ago, Nigelp said:

drop dead within 5 year

yes Nige and that's a factor the IFa take into account, his face lit up when I said I was a member of the 1 st heart attack club :laugh:

deano

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19 minutes ago, deano1956 said:

yes Nige and that's a factor the IFa take into account, his face lit up when I said I was a member of the 1 st heart attack club :laugh:

deano

thats it mate play it cool let them think you're a liability you will be out before you can get your card, they will punch the clock machine for you. Then take it easy, you dont want to peg out before spending a large amount of what you've paid in, pensions are like insurance a bit of a weighted con  

do as much as you can before you hit 70 just in case you don't 

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43 minutes ago, deano1956 said:

this week i set the wheels in motion had to get a IFa as I have accumulated 5 pensions in my working life, three Defined contribution, and two final salary , hope to retire at least a year  if not more ( fingers crossed) before my state pension @66. I also am hoping they start throwing redundancies out in this next year , been there 12 years so that would be a good leaving prezzie .

deano

I had a few pensions myself but some were only small so I've ended up with the one stake holder and 3 final salaries.

I'll have to see an IFA too and see whether I'm better off drawing the final salaries or taking a CETV ??

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36 minutes ago, Turpinr said:

I'll have to see an IFA too

I could not get my head round my options and what to do for the best, and then the IFA guy had a quick look only  and came up with about a dozen more options/ considerations I had not even considered or would have even know about! its a mine field and you could easily lose out on a lot of money.

deano

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9 hours ago, deano1956 said:

I could not get my head round my options and what to do for the best, and then the IFA guy had a quick look only  and came up with about a dozen more options/ considerations I had not even considered or would have even know about! its a mine field and you could easily lose out on a lot of money.

deano

I've only spoken to an advisor from Scottish Widows who my Stakeholder pension is with and he wasn't much use plus a couple of tentative phone calls who weren't final salary experts and wanted me to speak to people who are.

Going the final salary route is always the safe option but there's always the question of how long we're going to live ???:hmmm9uh: The penalty for finishing early is crippling with 2 of mine anyway, so I'll have to wait.

I had to go into work twice to sign forms but the second time we all met a solicitor to sign a settlement agreement and our company made a right stones of the whole redundancy situation.It should have been all cut at dried with the volunteers but it wasn't and the compulsaries have been a right fiasco.

There are 4 out the 26 who still don't know till today who they are :fyou:

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1 hour ago, Turpinr said:

Going the final salary route is always the safe option but there's always the question of how long we're going to live ???:hmmm9uh:

My oldest brother didn't even make to retirement age, and passed away at a similar age as I am now... so that's a sobering thought, and one that has influenced some of my decisions over the past few years.  I cashed in a private pension which wasn't worth much as a monthly income anyway (maybe 100-ish quid per month when it matured) and that enabled me to buy a much bigger and nicer detached house - A no-brainer to me at the time, just over 4 years ago.  I've still got £20k left over for a rainy day fund, which is more than I've ever had stashed away in my life.  I also bought a Porsche recently for similar reasons, I wanted one before I was 60, and I made it happen - Much to my own surprise :laughing2dw:

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11 minutes ago, Davey P said:

My oldest brother didn't even make to retirement age, and passed away at a similar age as I am now... so that's a sobering thought, and one that has influenced some of my decisions over the past few years.  I cashed in a private pension which wasn't worth much as a monthly income anyway (maybe 100-ish quid per month when it matured) and that enabled me to buy a much bigger and nicer detached house - A no-brainer to me at the time, just over 4 years ago.  I've still got £20k left over for a rainy day fund, which is more than I've ever had stashed away in my life.  I also bought a Porsche recently for similar reasons, I wanted one before I was 60, and I made it happen - Much to my own surprise :laughing2dw:

Davey I remember you mentioning about your brother and in your case I'd say you're 100% correct and I also admire you for saying f*ck it and have live now attitude.

I'm probably going to cash my final salary chips in next year and do the same because lifes too short:thumbsup:

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5 minutes ago, Turpinr said:

Davey I remember you mentioning about your brother and in your case I'd say you're 100% correct and I also admire you for saying f*ck it and have live now attitude.

I'm probably going to cash my final salary chips in next year and do the same because lifes too short:thumbsup:

Cheers mate, it's not advice I'd give to anyone else, but it works for me anyway :tongue:

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50 minutes ago, Davey P said:

Cheers mate, it's not advice I'd give to anyone else, but it works for me anyway :tongue:

You're welcome.

The amount of people who work all their lives and then are unable to enjoy the fruits of their hard work is cruel, that's the only way to describe it.

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1 hour ago, Turpinr said:

The amount of people who work all their lives and then are unable to enjoy the fruits of their hard work is cruel, that's the only way to describe it.

this is one reason why I have what some might call expensive / luxury watches now ,worst comes to worst I can ell and at least recoup some of the money if I need it ,but I get enjoyment from them NOW!:biggrin:

deano

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5 minutes ago, deano1956 said:

 

this is one reason why I have what some might call expensive / luxury watches now ,worst comes to worst I can ell and at least recoup some of the money if I need it ,but I get enjoyment from them NOW!:biggrin:

deano

Agreed.I've never sold a watch but I know I could if I needed to.

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18 minutes ago, Turpinr said:

Agreed.I've never sold a watch but I know I could if I needed to.

They are transferable assets, and they have outperformed most other investments in the past five years.  What's more as they are mechanical items they are not liable for capital gains tax.  

The difference is they are far more enjoyable le than 1% interest, but require more research.

This year I have become the oldest Male on one side of the family at 45.  No close Male relative has made it past 70, so I have 25 years in which to enjoy myself

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Just to cheer you all up £420.000 of a relative's pension went into the coffers of a care home, which could have been avoided, and given them a better quality of life had they agreed to giving family welfare power of attorney. As said, you never know what is ahead.

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2 hours ago, scottswatches said:

They are transferable assets, and they have outperformed most other investments in the past five years.  

Excuse my ignorance, but what does this mean?

Good luck to all with their retirements. I was very lucky after 2 redundancies and a pay freeze (cut) for 4 years that all worked out okay in the end, although it could have been better. I have no real complaints. Last week I was lucky enough to be enjoying myself in Krabi for a few days. The value of the Thai baht is killing the Thai tourist industry so great discounts available, but it helps if you're already here.

IMG-0045-055-1.jpg

IMG-0203-013.jpg

 

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1 minute ago, Caller. said:

Excuse my ignorance, but what does this mean?

 

You can convert them back into money at any time, and some brands have increased in value noticeably in the past five years.  They are also pretty stable and could almost be considered a currency in their own right - if a used Rolex was £2000, and the pound weakens 10%, the Rolex value is now £2200 ish because you can sell it to someone paying in Baht, Euro, US Dollars - they might still pay $3,000, the same price as before, but you now get £2,200 because of the exchange rate.  But on paper you made £200.

Same advice as ever goes though - don't buy for investment, buy for enjoyment

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5 minutes ago, scottswatches said:

You can convert them back into money at any time, and some brands have increased in value noticeably in the past five years.  They are also pretty stable and could almost be considered a currency in their own right - if a used Rolex was £2000, and the pound weakens 10%, the Rolex value is now £2200 ish because you can sell it to someone paying in Baht, Euro, US Dollars - they might still pay $3,000, the same price as before, but you now get £2,200 because of the exchange rate.  But on paper you made £200.

Same advice as ever goes though - don't buy for investment, buy for enjoyment

Okay, understand now, thanks.

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Jock Vodka & Energy drink 

2019-12-24_08-50-34

I knew I shouldn't have sent Big M to ASDA, she alway gets the cheap stuff.

:laughing2dw: :laughing2dw:

Her excuse

'everyone will buy you Vodka for a crimbo pressie so no point in spending extra money'

:rolleyes:

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16 hours ago, BondandBigM said:

Jock Vodka & Energy drink 

2019-12-24_08-50-34

I knew I shouldn't have sent Big M to ASDA, she alway gets the cheap stuff.

:laughing2dw: :laughing2dw:

Her excuse

'everyone will buy you Vodka for a crimbo pressie so no point in spending extra money'

:rolleyes:

I think she's being sensible buying cheap (that's the Aberdonian in me :laughing2dw:), after the first one, they all taste the same anyway, so why waste money. :drinks:

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On ‎12‎/‎12‎/‎2019 at 12:02, Nigelp said:

@BlueKnight @BondandBigM is a toy boy 'cos shes 93.

 

i hope you make it mate 

too many retire and drop dead within 5 year. 

     Not if you excercise daily - or -  drink heavely.     vin (20 yrs.  ret. )

On ‎12‎/‎12‎/‎2019 at 23:29, Turpinr said:

I've only spoken to an advisor from Scottish Widows who my Stakeholder pension is with and he wasn't much use plus a couple of tentative phone calls who weren't final salary experts and wanted me to speak to people who are.

Going the final salary route is always the safe option but there's always the question of how long we're going to live ???:hmmm9uh: The penalty for finishing early is crippling with 2 of mine anyway, so I'll have to wait.

I had to go into work twice to sign forms but the second time we all met a solicitor to sign a settlement agreement and our company made a right stones of the whole redundancy situation.It should have been all cut at dried with the volunteers but it wasn't and the compulsaries have been a right fiasco.

There are 4 out the 26 who still don't know till today who they are :fyou:

   this is what happens when THE GOVERMENT  gets a hold on your health policy.   vin

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2 hours ago, Graham60 said:

I think she's being sensible buying cheap (that's the Aberdonian in me :laughing2dw:), after the first one, they all taste the same anyway, so why waste money. :drinks:

In part you are right, expensive booze is a waste of money but that being said the cheap paint stripper stuff gives me a sore head. 

:laughing2dw: :laughing2dw:

Edited by BondandBigM
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7 hours ago, BondandBigM said:

In part you are right, expensive booze is a waste of money but that being said the cheap paint stripper stuff gives me a sore head. 

:laughing2dw: :laughing2dw:

From experience, it ain't great for the stomach either.:sadwalk::laughing2dw:

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