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Army, Nursing and State pensions @ £3500 a month, wife nurse pension £2200 a month and more than that combined from a property portfolio. Plan your retirement early folks.
Not enough.
How much more could renters invest in their pensions if they were only needing to pay for a mortgage (plus repairs) rather than rent?
Good for you but it’s easy to say that when you’re of retirement age now. People who are younger than you don’t have that luxury. Especially as you’re ex army, you had housing provided, so easily able to acquire a buy to let.
THIS! I cringe at how much my pension is every month but I know when I am older I will be thankful
You say that, but at 33, with a £1,100/month mortgage, and already adding 5% salary (double matched by my employer), I’m really not sure how much else I can do or a afford to buy. It’s only in the last few years we’ve even been able to buy, due to house prices where we are. Not a chance am I ever going to be in a position to build a property portfolio.
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I was lucky, my parents (who were a professional couple and built a property portfolio) helped me get my first mortgage when I was 19 so at that very young age I was on the property ladder with a small mortgage but having that made getting the second one (or loans) easier. My wife was a nurse and when I moved in the UK she would always work and yes we did use some army accommodation (and its not free) but did buy, then when we moved we'd rent the house out and buy another and so on; we rented houses in Cyprus and Germany to live in. I've inherited properties and bought properties and never took a wage until a few years ago, every penny was put back into the portfolio so I planned my retirement early.
Its very difficult for youngsters to get on the property ladder these days, house prices are very high in the UK compared to most other countries, certainly within the EU, at least down here in South Wales youngsters can buy affordable housing but...prices in the valleys are slowly but surely creeping up. One thing I'll say is max your pension contributions as much as you can because one minute your partying with your mates in Spain and the next thing you know you've hit 66 and ain't got a pot to pee in.
Very few people are, I had a head start which I'm forever grateful for and we've paid back the luck helping our two children...its what families do but keep that pension fund growing
I am sincerely very happy reading your post, no buts or feeling of jealousy. I now wish you both a happy healthy life. I won't say long, as sometimes that is a curse even if you are wealthy.I was lucky, my parents (who were a professional couple and built a property portfolio) helped me get my first mortgage when I was 19 so at that very young age I was on the property ladder with a small mortgage but having that made getting the second one (or loans) easier. My wife was a nurse and when I moved in the UK she would always work and yes we did use some army accommodation (and its not free) but did buy, then when we moved we'd rent the house out and buy another and so on; we rented houses in Cyprus and Germany to live in. I've inherited properties and bought properties and never took a wage until a few years ago, every penny was put back into the portfolio so I planned my retirement early.
Its very difficult for youngsters to get on the property ladder these days, house prices are very high in the UK compared to most other countries, certainly within the EU, at least down here in South Wales youngsters can buy affordable housing but...prices in the valleys are slowly but surely creeping up. One thing I'll say is max your pension contributions as much as you can because one minute your partying with your mates in Spain and the next thing you know you've hit 66 and ain't got a pot to pee in.
Very few people are, I had a head start which I'm forever grateful for and we've paid back the luck helping our two children...its what families do but keep that pension fund growing
£43,000 salary plus varying amounts from consulting and media appearances (columns and radio usually). I’m 32 but not going to say the industry as l’m actually quite easy to find.
Are you famous?
God no, just there aren’t many women in my industry and I was one of the first.
That said I went on a date with someone who quoted an article I’d written (not a winning strategy). If you had an interest in my industry you’d know me. Not trying to sound like a knob here, honestly.
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On a good salary now, but about to be made redundant by next Christmas. So zero from then!
I'm early 40s work offshore, 2 weeks on 2 weeks off (4 and 4 at the moment) and the moneys brilliant but I won't be doing it much past mid 50s so I'm in hyper save mode and want some sort of retirement/semi retirement (to something else) by then and I've gone to buy to let as well plus me pension. I'm not working till I drop sod that.
Just started a band 5 position for the NHS so just over 25k a year rising to almost 32k when I reach the top of my pay band. Increase from the band 3 position I worked for a few months before getting this job, I earned £39k a year previously in the oil and gas industry. Made redundant last year mid pandemic.
I think going from earning more to less makes you realise what you waste money on and I'm loads better at managing it now and putting into savings even though I'm on less than I was previously... although lockdown means I've less to spend it on for now.
I think going from earning more to less makes you realise what you waste money on and I'm loads better at managing it now and putting into savings even though I'm on less than I was previously... although lockdown means I've less to spend it on for now.
Can I ask, when you say the money is brilliant, what are we talking?
Can I ask how you rise to £32k? I am band 5 and top is approx £30600?
Not enough
The position was advertised as £25,100 - £31,649 as a band 5. I am in Scotland if that makes a difference? Not sure. I also am assuming there will be inflation based pay rises by then too. Where are you based?
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