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

[Gemma]

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.


Kind regards, Colin.

Thank you @Colin

 

[Sean Regan]

We don't save any more, just spend it.

 

[Bootsy]

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.

That's where they went wrong. When it's doing well you cash in on some of it. That's what we've been doing and it pays for a lot of things - including our five holidays a year.

Last year the value of our ISA's on the stock market rose by over 20%. We cashed in on this bonanza before it disappeared and I ordered a new car as the old one was ten years old. It has dropped by 10% since then. All we do is then wait for it to go up again and start all over again.

The important thing is managing your money properly and not let it just sit there and hope it will work for you.

Like @Sean Regan we are enjoying our senior years and we're the same age (almost) as well. Happy birthday for next month, Sean

 

[Upsy Daisy]

That's so very true @Bootsy , never assume that your money is working it's hardest for you.....keep an eye on it!
Thankfully hubs has always been on the 'ball' with our finances. He often shuts down accounts that aren't performing well and opens new ones somewhere else.
As I said we do have ISAs. Our children do too and have had them since starting work..... it's so important to start saving early.

 

[Silentrunning]

Everyone critizes today’ youth about not understanding finances. Are you kidding me? Most of them go back home after college and live with their parents again. They have no mortgage, no insurance bills, no property taxes, and no power bills. Their food is provided free of charge while they sit and complain about their college debt (that they have no intention of paying off). Most of them will forgo marriage and children and remain home with their parents. After their parents pass on they will inherit a house that is paid for and live happily ever after. Tell me, who are the smart ones?

 

[Sean Regan]

Everyone critizes today’ youth about not understanding finances. Are you kidding me? Most of them go back home after college and live with their parents again. They have no mortgage, no insurance bills, no property taxes, and no power bills. Their food is provided free of charge while they sit and complain about their college debt (that they have no intention of paying off). Most of them will forgo marriage and children and remain home with their parents. After their parents pass on they will inherit a house that is paid for and live happily ever after. Tell me, who are the smart ones?

The smart ones are the parents who take equity release.
We're far more obsessed in this country with "home ownership" than people on the continent, where many people just rent.

Yes they're effectively paying compound interest at plus 6% which soon mounts up. But so does the value of their property. As long as any deserving children are catered for, with some of the proceeds from the eventual sale of the house, why worry? You can't take it with you. If the last survivor of a couple has to go into care, then they'll take the house to pay for it. Otherwise the state would have to pay the fees.

There's no pockets in shrouds.

It's worth considering.

 

[BigC]

Nuff Said