Boro in Devon
Well-known member
I had to review my pensions last year in an attempt to finance myself through the pandemic. I am a director of a new small business and got no state support. I drew down an amount from my final salary pensions and transferred them into a Sipp. I know that this is a risk, however the amounts were much bigger than expected, and my living situation didnt work keeping them in the original company schemes. I am divorced and my kids are now adults, if I died then they would nt benefit as they are not financially dependant.
My pension is now invested and run by a regulated management company, who provide regular updates. I was lucky to be able to invest in the time of the pandemic as the bounce back in the stock markets has given me a good first year return.
The only problem with all of this, is that I am aware that I only have about 15 years worth of money to retire on. I am not in the greatest health and am currently having a discussion with the NHS about the future. Obviously they want to keep me well for as long as possible, I want to enjoy a good quality of life for the next few years, but not a long life. My parents died from cancer and dementia, the prospect of living in a care home is not appealing.
So I am embarking upon, a new regime of drink, mixed grills, motorbikes and wild wild women. Hopefully that puts a smile on my face for the next 15 years.
My pension is now invested and run by a regulated management company, who provide regular updates. I was lucky to be able to invest in the time of the pandemic as the bounce back in the stock markets has given me a good first year return.
The only problem with all of this, is that I am aware that I only have about 15 years worth of money to retire on. I am not in the greatest health and am currently having a discussion with the NHS about the future. Obviously they want to keep me well for as long as possible, I want to enjoy a good quality of life for the next few years, but not a long life. My parents died from cancer and dementia, the prospect of living in a care home is not appealing.
So I am embarking upon, a new regime of drink, mixed grills, motorbikes and wild wild women. Hopefully that puts a smile on my face for the next 15 years.