How's next year looking for you?

[bricol]

We had to pull our neck in the last year or so, but things looking up next year - some big orders into Europe. Development budget has been increased, so hopefully a year to look forward to.

I always based my pension expectations on the data I had from the lifetimes of my dad, both grand-dads and a couple generations before that - I seem to not be following the same pattern, so every spare penny currently being chucked in the pension I only started when the auto-enrollment work ones started up.

Mortage free next year if I get a good settlement fee - so fingers crossed!

 

[northwest]

Only work with people I like

I get along with myself just fine so I think I am on to a winner there!

 

[Blobber]

I get along with myself just fine so I think I am on to a winner there!

Don't you find the works Christmas parties a bit quiet though!

 

[addjunkie]

1. Only work with people I like
2. Get earnings of around 40% of what I used to make, but with way less stress

is that not called “retired”

 

[skotl]

is that not called “retired”

Well, it's called "semi retired" cos the pension ain't paying out yet and we still need some income.
I've nailed the "retired" part, so just need to work on the "semi" bit

 

[pressbrake1]

I would like to retire in 2025, but the girls are just getting to the expensive university age, eldest is learning to drive too. Both are getting part time jobs and the missus has a part time job too so it may be possible.

When we moved out of London to "Downsize" back in 2000, we didn't take into account extending the house, renovating outbuildings and building a barn/brewery/workshop. So we actually upsized, although we have no debts, upkeep is quite high. I can think of a few ways to lower overheads or earn a few quid from the land to offset it a bit.

If I do retire from the regular day job, I can foresee a period of intermittent consultancy/contracting being needed, hopefully not for long.

I'll think about it more next year, I've never been busier work wise, I'm in IT and the company is always launching new products and acquiring other companies which keeps me busy and it's an interesting job. But I do want more workshop and hobby time, this isn't a rehearsal and I'm 63 next.....

The key is to be actually useful in de industrialised yet IT reliant Britain.

My business is as useful as “ insert useless item”

 

[JOEPRO]

My 2025 is shaping to be just as busy as every other year! I work as design manager for a large construction firm and the job book is still as full as ever for years to come which is a great thing for the industry here in NI. I don't mind being busy truth to be told! I'd get bored very easily in any other role now.

 

[ukracer]

 

[Chillitt]

I suspect next year will be very much like this year for me, which is sort of double edged. For the outside world, I predict Interesting Times.

 

[Jan-DIY]

This is what I got in 24.
Need to slow down a bit.

 

[northwest]

Dies ist aber nicht schnell, autobahn hat hundert dreizig im jedenfalls.

 

[northwest]

Don't you find the works Christmas parties a bit quiet though!

No, not at all, I take the missus out for a decent meal and all is good with the world.

 

[Jan-DIY]

Dies ist aber nicht schnell, autobahn hat hundert dreizig im jedenfalls.

This express my 2024.
Very too much on left lane (yes Germans are on wrong side of road:-)
I hopefully getting better times in 25.

 

[Jan-DIY]

And btw we do not have any limitations on the “Autobahn” if they are not under construction…
So 95% you can not drive like this;-)

 

[Brad93]

Sadly I must echo @Brad93 s statement. Self employed and trying to retire on even half of the pension Public Sector employees achieve is a dream. I don't think it is possible, unless you are making very serious money.

£300 a month seems like a reasonable amount to pay into a pension, at the end of the day after everything else i reckon thats about the most i'd have spare.

That would mean knocking things on the head, tool purchases, going out, cartridges etc.

Based on the government calculator.

That gives £221 a week.

Not a lot to live on considering the food shop comes to £100 a week at current prices. In 30 years that could be £400 a week.

 

[owas]

£300 a month seems like a reasonable amount to pay into a pension, at the end of the day after everything else i reckon thats about the most i'd have spare.

That would mean knocking things on the head, tool purchases, going out, cartridges etc.

Based on the government calculator.

That gives £221 a week.

Not a lot to live on considering the food shop comes to £100 a week at current prices. In 30 years that could be £400 a week.

Its not that simple.
Mine is currently £400 per month but that's on gross pay, so it brings tax and NI down.
I'm not sure how it works SE but presumably get some tax relief.

the calculators take inflation in to account.

You chose the fund style your pension is invested into, of course if you chose a very safe one you won't be left with much growth.

While young I've changed mine to a more risky fund to maximize returns while I'm nowhere near withdrawing, doesn't matter if it goes down some years, move it over to a safe one closer to retirement.


You also don't stick with £300,as you earn more you put more away over the years.

I've prioritised my mortgage to be done by 39 (32 now) , then I'll hammer all that excess into my other investments/pension until 55.


Just a mig monkey, still play with my cars/gym/workshop ect.

 

[arther dailey]

The key is to be actually useful in de industrialised yet IT reliant Britain.

My business is as useful as “ insert useless item”

maybe in some terms , but to the guys on here your work is considered Fantastic , adnirable ,skillfull to the upper extent .

 

[RichardM]

This is what I got in 24.
Need to slow down a bit.

View attachment 478699

But that's only 90 mph, I hope it wasn't in a 30 ( or 20 for our Welsh colleagues).

 

[Blobber]

No, not at all, I take the missus out for a decent meal and all is good with the world.

Lend me your Mrs

 

[4String.]

£300 a month seems like a reasonable amount to pay into a pension, at the end of the day after everything else i reckon thats about the most i'd have spare.

That would mean knocking things on the head, tool purchases, going out, cartridges etc.

Based on the government calculator.

That gives £221 a week.

Not a lot to live on considering the food shop comes to £100 a week at current prices. In 30 years that could be £400 a week.

I'm not prying into other folks' finances, but if I read that right, is someone in the supposedly affluent southeast who's self employed taking home £221 + (£300 ÷ 4) = £296 a week???

I've probably missed something or I'm misunderstanding the maths but if I'm not, my average weekly take home pay of £750 for sitting on my backside in a lorry doesn't look so bad...