Pension fund performance - do you monitor yours, how is it doing, do you actively change it?

[413x]

That's what I'm aiming for... a moderate life style at roughly 3k per month.



I have a bucket list of video games to play and then sell on ebay.

Need to get rid of some of my collections like yu-gi-oh cards etc, so that who ever is dealing with my estate don't have to deal with it.

I'll probably end up swing trading for periods of the day as a part time self employed job or even look at some gig work from fiiver or consultancy work just to keep me busy. I may sit here playing chess online with a glass of wine.

For me, retirement isn't likely to be the end of my working life, just the end of full time working and the ability of not having to do anything I don't want to..

I literally cannot imagine working. Then just stopping. Forever.

I know with my pension etc it will be mad to Fully retire as I'd have to live too frugally. All that time with nothing to sounds like mental torture!

Just hope by that time there will be more jobs that allow 4,3,2,1 days of work A week.

 

[dlockers]

I literally cannot imagine working. Then just stopping. Forever.

I know with my pension etc it will be mad to Fully retire as I'd have to live too frugally. All that time with nothing to sounds like mental torture!

Just hope by that time there will be more jobs that allow 4,3,2,1 days of work A week.

You're weird man

 

[413x]

You're weird man

Would you really like to just stop working when you can survive but not have enough to go on holiday or days/weeks out?

I'd much rather taper down and have more money to do stuff.

Sitting around at home watching TV certainly doesn't appeal to me. I'd go crazy.

 

[MichaelAwkward]

Would you really like to just stop working when you can survive but not have enough to go on holiday or days/weeks out?

I'd much rather taper down and have more money to do stuff.

Sitting around at home watching TV certainly doesn't appeal to me. I'd go crazy.

To be honest it just sounds like you won’t have enough to retire…

 

[200sols]

Would you really like to just stop working when you can survive but not have enough to go on holiday or days/weeks out?

I'd much rather taper down and have more money to do stuff.

Sitting around at home watching TV certainly doesn't appeal to me. I'd go crazy.

Sitting around is a choice, walks etc are all free man. I know you've got a downer on the UK but really its all here you just have to get out there and do it.

 

[Mercenary Keyboard Warrior]

I am pre testing retirement right now, although back to work soon I think.
Honestly bring it on!

If your going to stay in the area then unless you absolutely hate stuff like gardening get yourself on an allotment waiting list.

I go up there a couple of hours a day, I get to have a quick chat with all the old fellas, nothing like politics etc, but how it looks a good year for soft fruit and onions, but bad for things like corn.
I stick the headphones on and listen to a couple of hours of audible.

Its cheap, time consuming, provides nice food (NOTHING is like fresh fully ripe strawberries, lettuce etc), gets you some daily exercise, aligns mainly with the nice UK weather (its really a spring to late summer activity)

Back onto pensions You need to ensure that you are normalising either to todays money, or when you would retire.
It sounds obvious, but its not always easy to tell when you look at sites talking expenditure etc.

 

[Narj]

Sitting around is a choice, walks etc are all free man. I know you've got a downer on the UK but really its all here you just have to get out there and do it.

Yeah, this.

If I don't move abroad I'll at least be relocating to where there's plenty of free stuff to do. Don't feel the need for expensive holidays abroad anymore.

 

[slinxy]

Some people believe holidays are escapisms.. when I was younger I used to go away 2 or 3 times a year, it was for the experience. After a while it gets very same-same no matter the location, be it a city break or summer holiday.

I didn’t go away for over 10 years as I saved for a house etc, but last year I did.. I loved it and I can understand why people think holidaying is escaping their real world.

Yes there is the debate that you should do it while you still can and while you’re still young, but if life is that bad where you consistently need a holiday then it maybe worth investing some of the holiday funds to changing your life while at home.

Personally I don’t mind skipping out on holidays, I don’t enjoy cold weather and I’m very much of a summer person and I think that I will enjoy them more when I know I don’t have to return to catch up on a week or two of work that nobody did while I was off.

Living where I live at the moment is swings and roundabouts.. we don’t even get all the food in the supermarket and I have to plan journeys into one of the town centres, which basically takes a whole day in the weekend when it’s needed.

But at the same time there’s plenty of country walks and rides just on the door step, I could cycle to different villages and towns, walk to different parks and if needed get in the old car and drive 10-15 mins to somewhere to park up and then have a walk/cycle around.

 

[413x]

To be honest it just sounds like you won’t have enough to retire…

No I probably won't. Certainly not with a life I'd want.
I don't personally know anyone who's retired who does a lot and is fully retired.
By that I mean most people either still work or they are retired but don't really do much but watch TV and go for a walk around the village.

Unless my health prevents doing stuff. I certainly do not want to just loiter around

 

[413x]

Sitting around is a choice, walks etc are all free man. I know you've got a downer on the UK but really its all here you just have to get out there and do it.

It costs money to get around though. That would be my issue. Yeah there's a lot around Wales and Scotland (as long as health keeps up).

For UK and retirement.. Its too far away to predict. But it may be really expensive and no support by time I retire. It's quite gmfar away to predict. But certainly nhs loss would be profound. Without an NHS and a state pension at 70+..staying in the UK would seem crazy vs other countries.

 

[HungryHippos]

In todays money I think you can do pretty well with pension etc with state pension + £500K in pension pot/isa etc.

Given that retirement is a long way away still for many of us, and despite the fact my own pension pot sucks currently, I've changed some funds around and I think that it's achievable to reach that kind of figure in say 20 years time, with index funds and just routine buying/investing, don't even need to put all capital into it really just adding some and paying down mortgage eventually as well.

Inflation may hit this level a bit but best time to work on this was probably a decade ago, next best time is now!

 

[413x]

In todays money I think you can do pretty well with pension etc with state pension + £500K in pension pot/isa etc.

Given that retirement is a long way away still for many of us, and despite the fact my own pension pot sucks currently, I've changed some funds around and I think that it's achievable to reach that kind of figure in say 20 years time, with index funds and just routine buying/investing, don't even need to put all capital into it really just adding some and paying down mortgage eventually as well.

I wouldn't rely on state pension myself.

NHS or lack of
State pension or lack of

Those are the big ones in my eyes. If already talking about a rise to 71 it's starting to get into the "probably won't see it"
Then if nhs falls apart and you can't afford private then the chance of getting to 71 falls too.


Regardless of everything else. Those are the big ones for me. I doubt many will be retiring.. But will the support be there if you can't work? I'm not confident.


I'd go so far to say we need a technological marvel to prevent this. Which.. May well come.
Technology is progressing so fast may be able to live in vr.
Artificial joints and robotics may be a game changer.
May not even need social care if robots can cover it.

These are all possible.

My pension pot is absolutely dire too!
Scary thing is.. It's not bad on a national scale.

 

[HungryHippos]

Not rely on as such but hope for the best! can only do what you can do right?

I'm squirreling some away whilst I can, but I'll still make sure I have spending money for myself as well, possible to do a bit of both!

I saw your post about the pension pot and I think I have you beat on poor performance!

I don't get matched salary contributions either really, it's 3% me 5% employer for 8%, but I can't add more and get any additional matched. This is slightly better than the basic one I think but barely so.

 

[413x]

Not rely on as such but hope for the best! can only do what you can do right?

I'm squirreling some away whilst I can, but I'll still make sure I have spending money for myself as well, possible to do a bit of both!

I saw your post about the pension pot and I think I have you beat on poor performance!

I don't get matched salary contributions either really, it's 3% me 5% employer for 8%, but I can't add more and get any additional matched. This is slightly better than the basic one I think but barely so.

Yeah I'm thinking after I've bought my van off going to 10 me + 4 or 5 from employer. (I think it's 5 but not sure).

Mainly as that swallow up. All the 40pc band.

I think I'm getting a little extra free from the government too. Whoops.

 

[throwaway4372]

It costs money to get around though. That would be my issue. Yeah there's a lot around Wales and Scotland (as long as health keeps up).

My mum retired recently, she's just like you, needs to get out of the house and go do something.
So far she's been away every few weeks, and we're talking minimum wage their whole life person here, the way she does it is by hunting cheap deals, e.g. train to x for £1.
When I was a kid most of our holidays were driving somewhere in the uk, staying in a youth hostel, and visiting whatever english heritage / rspb membership allowed, pretty cheap way to see a lot of stuff.

 

[Uther]

My mum retired recently, she's just like you, needs to get out of the house and go do something.
So far she's been away every few weeks, and we're talking minimum wage their whole life person here, the way she does it is by hunting cheap deals, e.g. train to x for £1.
When I was a kid most of our holidays were driving somewhere in the uk, staying in a youth hostel, and visiting whatever english heritage / rspb membership allowed, pretty cheap way to see a lot of stuff.

Lot's of people on here have got used to living on 50/60/70k+ a year though, and think they need that in retirement (who knows, maybe they do...) where the reality is, the vast majority of people make it work on much less than that.
I should add all mine up, I'd be surprised if it's even minimum wage.
I was in a Porsche dealer earlier...

 

[413x]

My mum retired recently, she's just like you, needs to get out of the house and go do something.
So far she's been away every few weeks, and we're talking minimum wage their whole life person here, the way she does it is by hunting cheap deals, e.g. train to x for £1.
When I was a kid most of our holidays were driving somewhere in the uk, staying in a youth hostel, and visiting whatever english heritage / rspb membership allowed, pretty cheap way to see a lot of stuff.

That's true with no need to book holiday at work you could easily just get best deals. Sometimes 3 weeks can be as cheap as 2 weeks if you're flexible.

 

[413x]

Lot's of people on here have got used to living on 50/60/70k+ a year though, and think they need that in retirement (who knows, maybe they do...) where the reality is, the vast majority of people make it work on much less than that.
I should add all mine up, I'd be surprised if it's even minimum wage.
I was in a Porsche dealer earlier...

I think if you have more time and want to use it you need same.
Our mortgage is the only bill that will go. And it's only 600 for my share.

Sure I won't need to save.. But I only have 25 days of holiday to use right now. If I had 365... You could burn though cash pretty quickly.

 

[HungryHippos]

Yeah I'm thinking after I've bought my van off going to 10 me + 4 or 5 from employer. (I think it's 5 but not sure).

Mainly as that swallow up. All the 40pc band.

I think I'm getting a little extra free from the government too. Whoops.

Yeah am not on higher rate so don't have to consider that, I'd salary sacrifice some if I was though as the tax savings really start to take off then!

 

[DarrenM343]

Lot's of people on here have got used to living on 50/60/70k+ a year though, and think they need that in retirement (who knows, maybe they do...) where the reality is, the vast majority of people make it work on much less than that.
I should add all mine up, I'd be surprised if it's even minimum wage.
I was in a Porsche dealer earlier...

Those are the people that will probably never retire then as they spend too much. Nice to enjoy 'things'(probably lots of wasted money) but being a slave to a job at age 60+ might not be much fun.

I think many overestimate how much they need. When in your 30's and 40's you may think you would need a huge retirement income but when 65+ you may find have health issues, start losing energy to do so much anyway. My parents now in their 80's save loads as they're mostly housebound now, pretty much. Mum has a partial state pension and dad has a company pension too but it's not massive