How do you envisage the way to enjoy life when you're a "pensioner"?

[marlingardener]

Colin, have you considered Texas? We have lots of sunshine, drought during the summer, mild winters and lots of open land and affordable housing. We also have good soil, at least here in central Texas!
If you brought what you call bad weather with you, the farmers would welcome the extra rain. You might even be elected mayor of our nearby small town! I know for certainty your talents and work ethic would be greatly welcomed.

 

[Upsy Daisy]

We've had Blackie here with us @Colin !!

 

[Colin]

Hi,

You really are so kind marlingardner. Thanks for your suggestion; there are lots of things that could attract me to Texas; being able to have a nice detached bungalow with plenty of land and a huge barn to use as a workshop; having the space for big machinery and on a level site rather than a steep valley side; the climate of course would be a huge asset allowing outside work without fighting our dire climate all the time. If we try to improve our life here in the UK we are penalized by high taxes; I often thought I worked for the benefit of our government rather than for our own benefit; I'm even paying income tax because Bron and I did without luxuries in order to pay into our works pension so now was it worth it. I like how the guys always seem to have a big pick up truck and trailer; I think timber (lumber) and tools etc are cheaper in America. Success in America is encouraged and applauded?

The downside of Texas for me would be the gun law and snakes that bite to kill; fortunately we have neither here in the UK; yes we have a couple of poisonous snakes but I've never seen one.

We don't suffer tornadoes or cyclones and here we have an excellent National Health Service in spite of the criticisms aimed at it giving free medical care.

Both Bron and I are genuine Yorkshire and the saying goes that there are only two kinds of people; those living in Yorkshire and those wishing to live in Yorkshire; it's not perfect here and I moan the year round about the terrible climate but when the rare hot sunshine appears there's no better place I want to be; we have a beautiful detached bungalow with decent sized gardens; we come and go as we please; timber yards nearby as are tool stores and lots of supermarkets; our surgery is less than two miles away and we can see lots of lovely countryside from our front windows overlooking the valley; two things I would change if I could; the weather and the steep valley we live on; I do get fed up because most days last year it rained and three months so far into 2018 it still hasn't let up apart from the odd day; when it doesn't rain the gardens remain soaking wet we also suffer high wind coming up the valley. I bought 6 Viburnum potted plants months ago but only planted them in the garden today; the weather has simply been too bad.We don't have a pick up but we do have a Skoda Yeti 2.0L diesel so I'm not at all complaining.

My work ethic is from 55 years ago when kids leaving school had to work in order to eat; our families were living in poverty and I mean real poverty; I'm so used to working even 17 years into full retirement I don't sit back; I enjoy being busy and learning new things; a couple of weeks ago I bought a nice pyrography kit to play with and Bron has taken to it; I'm now gearing up to do the type of woodturning I've always wanted to do but never had the time; I've owned lathes for over 40 years but used lathes for much longer; I love working on lathes both in metal and wood. I'd love to send Blackie to you marlingardener on an extended visit; you would be most welcome to him.

Thanks Upsy Daisy for letting me know where Blackie is; I've missed him today but no doubt he'll make up for it very soon.

I've rambled on long enough; tomorrow is a full workshop day; whoopee.

Kind regards, Colin.

 

[Colin]

Hi,

If only it would warm up here in Huddersfield; I managed to get into the garden yesterday and even polished the Yeti; the Yeti was gleaming black last night but this morning it was white with frost and now its soaking wet the frost having melted; I'll have to wrap up in my heavy site coat again to wander into the workshop; once the fan heater starts to warm things up then it will be dinner time? Absolutely beautiful morning though at the moment so apart from the 2C I'm not complaining.

Retirement for me today was to be at Morrisons supermarket by 7 o'clock; do the shopping and return home; by 7:45 job done with shopping put away and I've just enjoyed a brew and a lump of delicious stem ginger cake so I'm ready for what the world throws at me today; retirement is excellent.

Kind regards, Colin.

 

[Bootsy]

Colin, from your description of life in Huddersfield I gather you didn't work for the Yorkshire Tourist Board

 

[Colin]

Hi,

Thanks Bootsy.

Yes I'm Huddersfield's worst ambassador; Bron and I never visit Huddersfield town centre avoiding it like the plague; traffic wardens on speed waiting to pounce and now "Bus gates"

https://www.examiner.co.uk/news/seven-people-getting-bus-gates-13629981

It appears the best way to avoid congestion in Huddersfield is to ensure the shops close and be boarded up? I wonder how many of those motorists being fined revisit Huddersfield and tell all their friends about it; We don't go nearer than the ring road and even this makes me nervous. When all the shops close then there will be plenty of parking and the buses can run around empty. Bron and I live on the outskirts of Huddersfield adjoining lovely countryside along the valley.

I'm buying more than ever online to avoid all the hassle of going out in the car risking being fined and facing all the traffic calming; it's just so convenient to sit at the keyboard and let things come to me. I'm not moaning because if motorists are being treated like this in Huddersfield then by all means close the shops I no longer care.

More on retirement though; I was about to head into the workshop earlier when Bron asked if I would run her up to our local Wyevale Garden Centre; we've just returned home so once again I'm heading into the workshop; being retired is wonderful giving us freedom of choice and we avoid stores and garden centres etc at weekends and public holidays; I feel a bit of woodturning coming on; I think it's becoming an addiction?

Kind regards, Colin.

 

[Colin]

Hi,

Here's my bit of woodturning today plus a bit of metal work; I made a small skew chisel and have just completed it. I love making my own tools.

Kind regards, Colin.

 

[Gemma]

I don't have a particular age when I would like to retire, I do have a list of things I want done though.

One project at a time, hubby and I are transforming our once plain land, into a relaxing oasis. As soon as the weather permits we'll be digging our second koi pond, building a sitting area with a fire pit, and framing it all in with plenty of flowerbeds....I want flowers everywhere!

The next project on the list is to build the permanent greenhouse, then the outdoor list will be done.
The house is fairly new and we've already redone all the bathrooms so the only thing left would be to renovate the kitchen, lay new flooring and change all the furniture..then I can gladly quit working and spend all of my time enjoying my garden, and my pets

 

[Sean Regan]

I know it's difficult for some, you need a decent income from your job to make plans, but I fear many young people don't. They're part of the "have it now" generation.
Once the kids were grown up, I started banging the maximum amount possible into my employer's pension fund. With the employer's contribution, that was 15%. We also had an endowment mortgage and I over paid into that, planning to clear it by the time I was 60. We didn't go without. But we weren't extravagant. I always cleared my credit card at the end of the month. The only interest I was paying was on the mortgage and successive car loans.
I'd cleared the mortgage by the time I was 57, so was able to take early retirement. Our "disposable income," now without a mortgage, car loan, pension contributions, or National Insurance, is far greater than when I was working.

If only I could find away of not paying a shed-load of Income Tax each year!

 

[Gemma]

@Sean Regan hubby and I are also planing to wipe out the reaming mortgage that way, once the kids leave the house

 

[Sean Regan]

@Sean Regan hubby and I are also planing to wipe out the reaming mortgage that way, once the kids leave the house

The problem for younger generations is that savings don't accrue much interest theses days.
I was working at a time when there was pretty high inflation for a couple of decades or more.
Also at a time when endowment mortgages had terminal bonuses, ours was three times what we paid for our house back in 1972. Also, when I took early retirement, I had to take my AVC "pot" as annuity, this pays 10%
Our kids have gone down the second property route. The youngest two have partners, not married. As each own one of their two properties, to get married would make them liable to capital gains tax, if they sold one to finance their retirement.

 

[Colin]

Hi,

May all your wishes come true Gemma and may your flowers in the garden bloom. I don't make wish lists of what I would like to do each day it depends how much rain Blackie is putting down as now when it's pouring. Good luck in settling your mortgage.

Well said Sean; I reckon retirement is going to be more of a punishment than a pleasure for millions in the next few years; live now pay later is a recipe for unhappiness; how many go into debt just for foreign holidays when they would possibly be wiser as you and I have; Bron and I have planned for retirement from first marrying 41 years ago and it's paid off; like you Sean we paid into works final salary pensions allowing me to fully retire at the age of 53 in 2000; many years ago a neighbour was bragging he was going to retire aged 55; he was CEO of the company running expensive "works" cars; foreign holidays extension to his property etc his wife tried to convince Bron it was best to put "white goods" onto the mortgage saying it was an easy monthly payment? he was still working at 70.

Also like you Sean because we've saved hard over the years paying into our pensions we are now punished with income tax; hardly encouragement from the government is it to be independent? We paid our mortgage off immediately I retired; strangely having retired and paid the mortgage off and no other debts other than the normal utility bills we are comfortable in fact a great deal better off now than whilst working; we have disposable income to enjoy our various hobbies and we can afford a brand new car every three years; we've worked hard to gain our enviable lifestyle but how many youngsters these days will be saying the same when they retire. Owning a first home has never been easy well it hasn't in the private housing sector; our first mortgage on a semi was £6,500 and it was a very hard struggle to meet the payments every month especially with most of the country on strike or short time working and a mortgage interest rate of 15%; the government stripped me of my married mans allowance and stripped us of the mortgage relief so much for the government encouraging home ownership. Bron was working and I was working three jobs a week due to short time working in the mill; it looks like a joke now just for a £6,500 mortgage but in those days it certainly wasn't a joke to us.

It is worth mentioning that it still is difficult to get a mortgage because most of our manufacturing has gone abroad and the companies left are only employing part timers who on these terms of employment will possibly never own their own home or even manage to pay into a pension scheme; final salary pensions I believe are all but phased out now.

Whilst we had our mortgage the interest rate was very high but now we have savings the interest rate is almost invisible; still we can't grumble there are a lot better off.

Kind regards, Colin.

 

[Bootsy]

If only I could find away of not paying a shed-load of Income Tax each year!

When I retired 18 years ago I started investing my savings in Unit Trust ISAs. It turned out to be an excellent way to go. They started off by giving a capital return of 10%-15% p.a. This has now dropped to approx. 6% but they are totally tax free. I now pay virtually no tax at all. This year you can put 20k each into an ISA.

 

[Upsy Daisy]

We do this too @Bootsy . Our children do too

 

[Colin]

Hi,

Bron and I are extremely careful when it comes to savings; we both have cash ISA's which are not at any risk although the interest rate is abysmal; years ago our best friends invested in savings which gave a decent interest and all went well for about three years until it fell apart; they lost all the accumulated three years interest but fortunately their capital only received a small dent so they ended up worse off than us. I'm a tight Yorkshireman who might be losing the plot at times but I still retain a tight grip on our savings.

Many years ago we used to watch Alvin Hall on TV;

https://en.wikipedia.org/wiki/Alvin_Hall

What amazed us was that people like accountants would appear on the show and these would be in financial difficulty also on one show an RAF squadron leader was also in financial difficulty.

Last year we bought second hand paving flags from a guy living in a council house he and his wife were buying on mortgage; when they signed up for the mortgage years ago they thought all was OK until now when they wanted to sell their current house and move to the coast; what they hadn't realized was they had signed an interest payment only mortgage so still owed full initial amount to the building society.

Where money is concerned trust no one but use common sense.

Kind regards, Colin.