How's next year looking for you?

[Seadog]

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

It wasn't me, I wasn't there

 

[Mikes]

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.

If only it was that easy. I've had a personal pension that I paid into for years. Each year a statement would arrive detailing the pension performance and there were a good number where growth was bugger all. Fortunately it put a bit of a spurt on but if I had to draw upon it a few years back, the income from it would have been poor. As with anything stock based it's a huge gamble. I also invested quite a large sum in a bond which is again share based. It took a huge dive in the 2008 recession and it was quite a few years after its maturity date that it even got back to the original value. I've kept it even longer and it is now a reasonable sum. All very much a gamble but if you look at the dismal interest rates on offer, there's little choice. A good friend of mine who had an antique clock business used to right articles for the glossies in which he would quote the value of different clocks and how they had risen over the years. Basically it was a far better investment than any pension and you had the joy of looking at it every day. When the time came, you could sell it without anyone from the revenue sticking their hand out and taking a chunk!

 

[Morrisman]

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?

And my gym has a ‘Ladies Room’ full of exercise equipment that we men are not allowed to use. It’s almost as well equipped as the main gym, yet rarely do I see anybody in this exclusive sexually discriminating room.

There’s no ‘Men’s Room’.

Maybe some ladies feel shy working out in a public place, but the vast majority of females who use the main gym dress specifically to look as naked and exposed as possible. If any guy were to wear such stretchy ‘form fitting’ leggings, that reveal enough detail to count his pubes, there would be public outcry.

It’s almost like a sex education lesson some days.

 

[Morrisman]

If only it was that easy. I've had a personal pension that I paid into for years. Each year a statement would arrive detailing the pension performance and there were a good number where growth was bugger all. Fortunately it put a bit of a spurt on but if I had to draw upon it a few years back, the income from it would have been poor. As with anything stock based it's a huge gamble. I also invested quite a large sum in a bond which is again share based. It took a huge dive in the 2008 recession and it was quite a few years after its maturity date that it even got back to the original value. I've kept it even longer and it is now a reasonable sum. All very much a gamble but if you look at the dismal interest rates on offer, there's little choice. A good friend of mine who had an antique clock business used to right articles for the glossies in which he would quote the value of different clocks and how they had risen over the years. Basically it was a far better investment than any pension and you had the joy of looking at it every day. When the time came, you could sell it without anyone from the revenue sticking their hand out and taking a chunk!

I cashed in a pension about 5 years ago. I don’t particularly remember when I paid into it, as I’ve only had two jobs in the U.K., and they were for 14 years total, but it was a pleasant surprise getting a letter telling me I have £39,000 to dispose of.

I could take it as a lump sum, or they would give me an equity of £65 a month for life……

I have another pension worth £20,000 that’s available in March, when I’m 65. I’ve no idea when I paid into that either.
Hopefully I can get that in my bank without too much drama.

 

[Gragson]

Where is this gym and how much is the membership

 

[Morrisman]

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

I was told that exact same thing, that the state pension wouldn’t exist when I retired, and I was encouraged to pay into a private pension. That was in the late seventies…and it was a pension salesman telling me…

Looking back it was pretty obvious what he wanted, but I thought he was just looking after my future.

 

[Morrisman]

Where is this gym and how much is the membership

Gym and tonic, in Stafford. I pay £28 a month, the floor show comes for free.

 

[owas]

If only it was that easy. I've had a personal pension that I paid into for years. Each year a statement would arrive detailing the pension performance and there were a good number where growth was bugger all. Fortunately it put a bit of a spurt on but if I had to draw upon it a few years back, the income from it would have been poor. As with anything stock based it's a huge gamble. I also invested quite a large sum in a bond which is again share based. It took a huge dive in the 2008 recession and it was quite a few years after its maturity date that it even got back to the original value. I've kept it even longer and it is now a reasonable sum. All very much a gamble but if you look at the dismal interest rates on offer, there's little choice. A good friend of mine who had an antique clock business used to right articles for the glossies in which he would quote the value of different clocks and how they had risen over the years. Basically it was a far better investment than any pension and you had the joy of looking at it every day. When the time came, you could sell it without anyone from the revenue sticking their hand out and taking a chunk!

Over 30 years it doesn't matter if a few years are poor, hence why I said the younger lot.
My current fund has increased by 16% in the last year and around 48% the last 5, years where its down are fine, you're buying units cheaper.


Just a very rough graph with a conservative return if I was to stick to £400 for 30 years (Itll go up) ,most the gains are in interest, which you won't do with clocks.

Edit - I mean compounding returns in the case of pensions, just easier to use interest example.

 

[Mikes]

Over 30 years it doesn't matter if a few years are poor, hence why I said the younger lot.
My current fund has increased by 16% in the last year and around 48% the last 5, years where its down are fine, you're buying units cheaper.


Just a very rough graph with a conservative return if I was to stick to £400 for 30 years (Itll go up) ,most the gains are in interest, which you won't do with clocks.

I wish I had some of the articles that My friend wrote. The return on some of the clocks due to increase in value was huge and would make pension fund increases look like pocket change. The same used to apply to high end sports cars, the likes of classic Aston Martins, E-Types etc was always considered a good investment that you also had pleasure from.

 

[Morrisman]

An Aussie guy I worked offshore with, his dad was a financial advisor in Perth, he reckoned the money you put into a pension in the first ten years of your working life produces more pension at retirement than all the following years added together.

Down under they have mortgages where you can put money in like a bank, and then withdraw it later. My mates dad set one up for him, and told him to pay his salary directly into his mortgage, and then pay all bills on his credit card, then at the end of the interest from credit card period, take the excess money out from the mortgage and pay off the card.

I don’t think we have such mortgages in the UK, but it sounds interesting.

 

[RonMig]

I retired at 55, 13yrs ago, because I could.
After a lifetime of average salary, to an average £pension but still, other people think we're rolling in dosh...
But we didn't spend £thousands£ per year on booze/fags/hols/cars like they always do - but saved/invested instead.
So we're comfortable -for now- but dunno how long that will last...
This govt seems determined to fleece anyone who has more money than the average dependent in their ideal socialist collective.
I don't see my state pension as a benefit but as a paid-for legal right.
It can only be a "benefit" to those who did not pay a lifetime of tax or NI into the system, surely...
2025 starts with me being £500 worse off, disappeared into a black hole apparently...
Can't help but wonder which of my pennies are going to be nicked by the overlords next....

 

[ukracer]

And my gym has a ‘Ladies Room’ full of exercise equipment that we men are not allowed to use. It’s almost as well equipped as the main gym, yet rarely do I see anybody in this exclusive sexually discriminating room.

There’s no ‘Men’s Room’.

Maybe some ladies feel shy working out in a public place, but the vast majority of females who use the main gym dress specifically to look as naked and exposed as possible. If any guy were to wear such stretchy ‘form fitting’ leggings, that reveal enough detail to count his pubes, there would be public outcry.

It’s almost like a sex education lesson some days.

Where's that???

 

[Morrisman]

Where's that???

Gym and tonic, in Stafford. I pay £28 a month, the floor show comes for free.

 

[Jelly_Sheffield]

Financing is apparently the word of the year.

Personally, we just got pipped at the post on the house we were planning to buy because we couldn't get a mortgage lined up in time, which was a bit of a kick in the teeth, but can't be helped.

Professionally, my business unit has some really excellent prospective opportunities lined up, to the extent that finding all the working capital to take the contracts is a major challenge...

Unfortunately being that the opportunities are all in high-risk countries bank funding isn't an option and we're going to have to find private investors or make a bond issue.

If we can't line that up, we will have to turn away work which is always hard, especially given how much my team and I put into winning it.

While you are young enough to change direction, and wise enough to know you need to invest more into your retirement, 2025 might be your time to re evaluate your future. Then go and sell your skills to higher bidders.

This has a lot to recommend it, the only time I have made significant improvements in my earnings has been changing employer or sector.

Not without risk, but I think it's just the way of the world these days.

It's also easier to take a step up when you're also switching employer, as you aren't constrained by the preconceptions people hold about you.

 

[More Amps]

Financing is apparently the word of the year.

Personally, we just got pipped at the post on the house we were planning to buy because we couldn't get a mortgage lined up in time, which was a bit of a kick in the teeth, but can't be helped.

Professionally, my business unit has some really excellent prospective opportunities lined up, to the extent that finding all the working capital to take the contracts is a major challenge...

Unfortunately being that the opportunities are all in high-risk countries bank funding isn't an option and we're going to have to find private investors or make a bond issue.

If we can't line that up, we will have to turn away work which is always hard, especially given how much my team and I put into winning it.



This has a lot to recommend it, the only time I have made significant improvements in my earnings has been changing employer or sector.

Not without risk, but I think it's just the way of the world these days.

It's also easier to take a step up when you're also switching employer, as you aren't constrained by the preconceptions people hold about you.

Better to have the work lined up and be worrying about the financing than have the financing available and no work to use it on...hope it works out for you.

 

[AJM]

Hi there, just wanted to draw your attention to the new posts on your Zollern Winch thread. I am new to the forum so don’t know if I can message your directly.

 

[Barking Mat]

Hi there, just wanted to draw your attention to the new posts on your Zollern Winch thread. I am new to the forum so don’t know if I can message your directly.

Which thread ? This forum ?

 

[OJCar]

Which thread ? This forum ?

https://www.mig-welding.co.uk/forum/threads/zollern-winch.140862/
AJM posted less than 24 hours ago asking for the winch, if it was for sale.

 

[Danez]

oof what a depressing read this thread is... happy new year!

for 2025 I'm wanting to extend me garage so i can fit one car behind the other, with workshop at the back and a pit at the front
Also to get my talbot campervan an mot within the next few months and make a start on the 205 gti!
I'm excited...

 

[Bullet2012]

hows next year looking, well its quite away off but i predict quite confidently that it will end with a six.