Archive for the 'Retiring' Category

Plan & save for retiring to achieive a realistic income & even give yourself the option of retiring early.

Have You Thought About Care Home Fees in Your Retirement Plans?

You may believe that you have planned for a comfortable retirement. Ideally, you will receive income in retirement from a variety of sources such as the State Pension, personal or occupational pension, investments and cash savings. If you have paid off your mortgage, it may look as though your retirement income is generous enough to […]

Will You Be Able to Afford to Retire?

Recent research by Lending Works highlights that 34% of non-retired UK residents are not saving any money towards their retirement. This doesn’t bode well for their post-work years. Even if they have paid the required 35 years of National Insurance Contributions to be eligible for the full new State Pension of £155.65 a week (which […]

Another Moving of Goalposts for Pension Planning

I am absolutely sick fed up of the UK Government’s constant tinkering with pensions. There’s all this talk about how people should put a higher percentage of their earnings into a pension to ensure a comfortable retirement. But when you try to plan your retirement, the goalposts keep changing.

Why I’m Happy I Bought an Annuity in April 2014

I’m so glad that I made the decision to buy an annuity, an income for life, from my pension pot at the earlier possible date, when I hit my 55th birthday. This is because annuity rates have fallen so much since April 2014. I recently got a quote for an inflation linked annuity with a […]

How to Boost Your Pension Income

The Pension Savings Hacks infographic below, from chartered accountants Alexander & Co, highlights some ways in which people who are already retired, or approaching retirement, can save money and boost their pension income. If you are retired and your total income (from the State Pension, any private pensions, employment, interest on savings or some benefits such […]

Self Employed Low Earners Would Be £600 a Year Worse Off Under Proposed Abolition of Class 2 National Insurance Contrbutions

My concerns about the proposed abolition of Class 2 National Insurance Contributions have been confirmed by the consultation paper on the topic. After trawling through the document it appears that self-employed people with an annual profit of less than around £6,000, the Small Profits Threshold, will be adversely affected. This is because at present the […]

My Money Podcast #126

The My Money Podcast #126 summarises the recent Help Me To Save articles below. Subscribe to the My Money Podcast from Help Me To Save in itunes Creating Art for Under £10 – My money saving tips on trying out doing art at home on a budget. Using Contactless on Transport for London – I had […]

How Much Money is Enough Money?

Do you feel like you’re trapped in the cycle of making money, but it never seems that you have enough money to live the life that you want? How much money is enough money? The first thing to do is to work out how much your preferred lifestyle will cost. Then work out strategies to […]

My Money Podcast #121

The My Money Podcast #121 features the recent Help Me To Save articles listed below. TSB Monthly Saver Pays 5% Interest –  You can earn a fixed rate of interest f 5% for 12 months with the TSB Monthly Saver. Are Plug-In Hybrid Cars Becoming More Viable? –  The Mitsubishi Outlander Plug-In Hybrid Vehicle is looking […]

The Best Investments for Retirement

Here are my tips on the best investments for retirement. I recommend starting to save for retirement as soon as you start working, diversification to manage risk and regularly monitoring your investments. A Workplace Pension One of the most efficient ways to invest for your retirement is through a workplace pension, especially if your employer […]