How's next year looking for you?

[Memmeddu]

TBH
My work at the machine shop wouldn't be much better and I hope not worse.
YouTube...
Apparently it doesn't promote long videos anymore even big channels are getting low view.
Shorts are going strong but I personally don't like working on this format, so shorts for shorts I'll probably end up uploading on TikTok only.
126p I'm slowly opening my eyes and discovering it will take too long and too much money, everyday more rusty.
And this makes me really sad.
My goals for 2025 are
1 build my workshop
2 restore my lathe
3 restore my cold saw
4 get a Tig welder (ipotools or stahlwerk because they offer 7 years warranty)
Not in a precise order of priority
I know it will be hard to accomplish a single one of them.
But who knows...
Priority is to preserve my mental health and it's already a challenge.

 

[Brad93]

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...

That's what a pension would pay out if you put £300 a month away for the next 30 years.

£221 a week

 

[4String.]

That's what a pension would pay out if you put £300 a month away for the next 30 years.

£221 a week

Aah, I misunderstood. (Typical Norvern Manki )

 

[addjunkie]

That's what a pension would pay out if you put £300 a month away for the next 30 years.

£221 a week

Yes probably, but youd have whatever the old age pension is on top

 

[ukracer]

Yes probably, but youd have whatever the old age pension is on top

If they haven't moved the goal posts again.

 

[Robotstar5]

If they haven't moved the goal posts again.

Mrs Robo is a bit miffed at that, she's just over a year younger than me, but I get mine at 66 and she has to wait until she's 67.

 

[ukracer]

Mrs Robo is a bit miffed at that, she's just over a year younger than me, but I get mine at 66 and she has to wait until she's 67.

Mine is even more miffed. She has to wait for 7 extra years.

 

[Barking Mat]

My colleague at work is getting well peeved his wife's already retired and he's another 18 months left.

 

[northwest]

Yes probably, but youd have whatever the old age pension is on top

don't forget the taxation. I am thinking that it won't be too far off that the government will set a target, say £400 a week and anything more than that will be taxed away from you, so if your private pension pays you £221 a week the government contribution will be £179 achieving their figure of £400. Call me cynical but I can see it coming, this Ponzi scheme they have going at the moment called "Public sector pensions" is just not sustainable, look how much some town and county councils are taking out of their annual budgets to meet their pension obligations, it just cannot continue.

 

[Morrisman]

Mrs Robo is a bit miffed at that, she's just over a year younger than me, but I get mine at 66 and she has to wait until she's 67.

Women spent over a century demanding and campaigning for equal rights to men.

And now they’re given it, equal retirement age, they’re all crying in their Prosecco over it.

 

[dobbslc]

If anything as they generally live longer they should retire later

 

[Kayos]

Women spent over a century demanding and campaigning for equal rights to men.

And now they’re given it, equal retirement age, they’re all crying in their Prosecco over it.

It's the same as car insurance for young lads. I refuse to believe anyone was surprised they raised girls insurance to match boys after the demands for equality. Did anyone seriously think they would lower boys insurance?

 

[brewdexta]

Women spent over a century demanding and campaigning for equal rights to men.

And now they’re given it, equal retirement age, they’re all crying in their Prosecco over it.

My London landlady is a Waspi pensioner. She's not moaning about the pension age, but the notice given, especially the second pension age increase.

She worked in the charitable sector, so wasn't highly paid, and was also carer for her mum, but had managed to pay a little into a pension pot all her life. Then the goalposts were moved very quickly, there was no way she could cover the extra years and care for her mum as her health deteriorated. Pensions tend to be created glacially, not overnight.

That's how she became a landlady, through necessity, letting out spare rooms in the family home while caring for her mum and continued working on community art projects, but unpaid.

Amazing lady, not one to moan, she just tells it as it is. She didn't moan when @Seadog drank all her rum either

 

[owas]

I think, if nothing else, the younger ones here really need to look at how compounding intrest works, and realise we have plenty of time to capitalise on it, you don't have to rely on the state.

 

[dobbslc]

I would think after the last few years especially it would be a good idea NOT to rely on the state anymore...

 

[Blobber]

I would think after the last few years especially it would be a good idea to rely on the state to TAX anything you earn/save to the max...

Thats better...

 

[addjunkie]

don't forget the taxation. I am thinking that it won't be too far off that the government will set a target, say £400 a week and anything more than that will be taxed away from you, so if your private pension pays you £221 a week the government contribution will be £179 achieving their figure of £400. Call me cynical but I can see it coming, this Ponzi scheme they have going at the moment called "Public sector pensions" is just not sustainable, look how much some town and county councils are taking out of their annual budgets to meet their pension obligations, it just cannot continue.

Funny I was out with my kid sister and her big company accountancy consultant husband the other night. And these points were raised in our discussions regarding retirment. He was of the opinion that Rachel from customer complaints would be looking to scrape more to waste, the tax free lumper maybe. But with fiscal drag the full state pension will become taxable with the triple lock rises soon.
Before the life time allowance was parked to keep high earners happy this was in effect the government dictating how big a private pension you could have. Ive a feeling this lot might bring it back in.

As for council and other government departments wasnt the Chancellor suggesting combining the many small funds into bigger ones to reduce costs associated with running the funds, logically increasing growth. Then investing in the new government infrastructure projects…..that bodes well doesn't it.

 

[owas]

I can't see there even being a state pension in the future, certainly wouldnt be relying on it.

 

[Blobber]

Funny I was out with my kid sister and her big company accountancy consultant husband the other night. And these points were raised in our discussions regarding retirment. He was of the opinion that Rachel from customer complaints would be looking to scrape more to waste, the tax free lumper maybe. But with fiscal drag the full state pension will become taxable with the triple lock rises soon.
Before the life time allowance was parked to keep high earners happy this was in effect the government dictating how big a private pension you could have. Ive a feeling this lot might bring it back in.

As for council and other government departments wasnt the Chancellor suggesting combining the many small funds into bigger ones to reduce costs associated with running the funds, logically increasing growth. Then investing in the new government infrastructure projects…..that bodes well doesn't it.

I wouldn't trust them with this...

 

[addjunkie]

I can't see there even being a state pension in the future, certainly wouldnt be relying on it.

Itll quietly be renamed ……old age income support and be means tested! They are already using the term benefit so one should see the future.