Gotta work more

[blu38 1]

Well, just received my 2010 pension estimate today. I’m 45 now.

 

At 60 I will receive a lump sum of £80K and an annual pension of £15k

 

Obviously this will increase dependant on how well the money is invested.

 

The sad thing is that it’s only a fraction higher than my 2008 estimate. Also with the exchange rate being so poor I may now have to work until I’m 66.

[Parkwahn 61]

Well, just received my 2010 pension estimate today. I’m 45 now.

 

At 60 I will receive a lump sum of £80K and an annual pension of £15k

 

Obviously this will increase dependant on how well the money is invested.

 

The sad thing is that it’s only a fraction higher than my 2008 estimate. Also with the exchange rate being so poor I may now have to work until I’m 66.

 

 

Can you pay into AVCs, they are tax efficiant if you are a higher rate tax payer the £100 you invest costs you £60 net, they are also freeing up pension pots etc with more change likely to come, if you buy AVCs take a big risk you have 15 years to go if you get some decent returns you could go at 55 mate, paying 40% is no good but you need to balance your life now with your future.

 

There have been great returns in the last 5 months, I would hazard a guess your estimate does not include that period ?

 

Either way mate you are doing well you have a plan and enough years to make big changes in retirment age or indeed return.

[Bazle 1,514]

It is not clear to me whether you have already invested enough to give the returns you mention, or if the estimate assumes you will continue investing at the same rate as at present until you retire.

 

If the former, I reckon you are doing well. If the latter, I go along with Lemon Faces comments.

[MeGoDanceNow 4,281]

At 45 you are just hitting your peak earning years. It sounds like you've got a good start, keep working, save what you can, invest in things you understand and you will do just fine.

 

A lot of people your age don't have savings at all, they have debt, and lots of it. Now THAT'S scary.

[Bush Pig 11]

Well, just received my 2010 pension estimate today. I’m 45 now.

 

At 60 I will receive a lump sum of £80K and an annual pension of £15k

 

Obviously this will increase dependant on how well the money is invested.

 

The sad thing is that it’s only a fraction higher than my 2008 estimate. Also with the exchange rate being so poor I may now have to work until I’m 66.

 

The Welfare State is designed to coerce you into staying chained to the treadmill.

 

The harder you work the more the Welfare State will take from you by force.

 

If the Welfare State doesn't have enough justification for taxing you to death it will import scroungers from other countries so there will be more Welfare Parasites to demand taxes from you for their wasteful pleasure.

 

You can't win of you play by the Welfare State's rules.