Financey stuff

Re: Financey stuff

Clive Ansell — Thu, 04 Jul 2013 12:58:10 GMT

[quote user="Michael Woodhouse"]

[quote user="Clive Ansell"]Planning and saving for old age is a must, but not sure how really. [/quote]

I'm not so sure. I live in a national park and starter homes = holiday cottage size. I had the choice of buying a house or starting a pension - I picked house.

I will start a pension this year (as much as anything for tax reasons) but honestly cannot see our generation properly retiring like our grandparents did. I don't expect there will be a state pension by then either.

[/quote]

When I said planning and saving for old age, I would include investment in property as one option. I'm not sure that is fool proof either as there is no certainty that house prices will not crash at some point (they need to really).

I think a state pension will have to be maintained, albeit much reduced and trimmed down. Many people (can't remember the number off hand) don't have any pension provision at all, and many are struggling at the moment just to live day to day so are unlikely to start paying into pensions. Ticking time bomb waiting to blow.

Re: Financey stuff

Michael Woodhouse — Thu, 04 Jul 2013 12:32:06 GMT

[quote user="Clive Ansell"]Planning and saving for old age is a must, but not sure how really. [/quote]

I'm not so sure. I live in a national park and starter homes = holiday cottage size. I had the choice of buying a house or starting a pension - I picked house.

Re: Financey stuff

Bob Russell — Thu, 04 Jul 2013 11:41:42 GMT

I use a local IFA (a client!). When it comes to pensions I have rather lost the will to live as this is the only way my pension will be half decent.

I am relying more on the property I own to help the pensions. We will do holiday lets with the home and move abroad if/when I can but this gets more distant every year.

The business should be worth something but the way the profession is now unlikely to be a decent nest-egg!

Re: Financey stuff

Christopher Saul — Thu, 04 Jul 2013 10:48:06 GMT

I'm actually 96,courtesy of 'Oil of Olay' i manage to pass as 34.....

Re: Financey stuff

Clive Ansell — Thu, 04 Jul 2013 10:28:46 GMT

[quote user="Michael Woodhouse"]

How old are you? If less than 40 I doubt we'll ever be able to afford to retire.

[/quote]

I'm less than 50 (49) and will not be retiring any time soon. My initial plan was to retire at 60, but my pension plan took a nose dive during the banking crash of 2008 (My pension lost £22000 in a week!!).

God knows what retirement age will be for folk in there 20's and 30's, but what is fairly certain is that as the ageing population grows and government finances go further and further in to debt state support will have to be reduced. Planning and saving for old age is a must, but not sure how really.

Re: Financey stuff

Gillian Mostyn — Thu, 04 Jul 2013 08:32:12 GMT

[quote user="Louise Alexander"] (I'm under 20, if that helps!)[/quote]

And already been graduated for 4 years???

Re: Financey stuff

Louise6732 — Wed, 03 Jul 2013 23:31:04 GMT

BVA offer a link with Lloyd and White, I've had one of their financial advisors to the house to chat through things, they are very good and offer advice at all stages of life - income protection, after marriage, mortgage, kids etc. I would recommend them. (I'm under 20, if that helps!)

Louise

Re: Financey stuff

Glenn Hodgson — Wed, 03 Jul 2013 22:58:00 GMT

I rate Scotia independent finance. Google search should flag them.

A good north of the border optiona!

Re: Financey stuff

Noweia — Wed, 03 Jul 2013 22:39:04 GMT

Less than 30! Does that make it better or worse?

Re: Financey stuff

Michael Woodhouse — Wed, 03 Jul 2013 22:24:43 GMT

How old are you? If less than 40 I doubt we'll ever be able to afford to retire.