10 silk cut 3.70p, pension where does the money go if i die early?
25 March 2011, 03:25 PM
#31
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My mum smokes 40 a day. Now she has breast cancer. Nothing to do with smoking.
I only know of a COUPLE of people who have died from smoking related illnesses. All the other people (a dozen plus) died from other things, not related to smoking.
Ive done the champix and it didnt touch me. Must be immune to the stuff. Gum is disgusting, the inhaler is like sticking your face into an ashtray and breathing it in - totally disgusting. Patches make me come out in rashes.
As far as non-smokers go, if you visit me, YOU can stand outside in the frickin cold while I have a cig INSIDE my house.
Put that in ya non-smoking pipe and smoke it.
I only know of a COUPLE of people who have died from smoking related illnesses. All the other people (a dozen plus) died from other things, not related to smoking.
Ive done the champix and it didnt touch me. Must be immune to the stuff. Gum is disgusting, the inhaler is like sticking your face into an ashtray and breathing it in - totally disgusting. Patches make me come out in rashes.
As far as non-smokers go, if you visit me, YOU can stand outside in the frickin cold while I have a cig INSIDE my house.
Put that in ya non-smoking pipe and smoke it.
25 March 2011, 03:26 PM
#32
Edd scott
ive got a couple of properties I think my best bet is add to them and just live of the rent. Im 28 nearly 29 have worked since the age of 14 I have a dream to retire in my early 40s if everything goes to plan.
Its crazy retirement age is 65 you wont be able to enjoy your money unless your healthy which is very unlikely in that age
ive got a couple of properties I think my best bet is add to them and just live of the rent. Im 28 nearly 29 have worked since the age of 14 I have a dream to retire in my early 40s if everything goes to plan.
Its crazy retirement age is 65 you wont be able to enjoy your money unless your healthy which is very unlikely in that age
I'm 28, 29 this year, 2 properties so far and me and the missis plan on a 40 something retirement age
Nice one mate, good luck to you
25 March 2011, 03:28 PM
#33
was gonna come round for a cuppa but I don't think I will anymore 
25 March 2011, 03:35 PM
#34
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I worked in pensions for a few years and this is the basics of how they work at retirement:
When you retire you use your pension fund to take out an annuity. A company providing an annuity agrees to pay you a set amount per year for the rest of your life, however long that might be, based on the size of your pension pot. They are hoping you will die early and they can pocket the money and you are hoping to live long and get out more than the value of the original pot. The point is you get security as the money will keep coming for as long as you live.
The problem with pensions is they are an investment and you could find your pot at the end is worth less than you paid in.
When you retire you use your pension fund to take out an annuity. A company providing an annuity agrees to pay you a set amount per year for the rest of your life, however long that might be, based on the size of your pension pot. They are hoping you will die early and they can pocket the money and you are hoping to live long and get out more than the value of the original pot. The point is you get security as the money will keep coming for as long as you live.
The problem with pensions is they are an investment and you could find your pot at the end is worth less than you paid in.
25 March 2011, 03:42 PM
#35
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By pension I mean, 'planning for retirement'.
Clearly having multiple properties seems a good way of doing it....providing you don't try and avoid paying tax when you sell them.
Carlh - does your mum still smoke?
Clearly having multiple properties seems a good way of doing it....providing you don't try and avoid paying tax when you sell them.
Carlh - does your mum still smoke?
25 March 2011, 03:53 PM
#36
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Same here, I own a few now, going to buy two more by the end of this year, all going well I will retire at 50.
Unfortunately with a slightly smaller final salary pension from mt employer, but I have seen a lot of older guys retire at 60/65+ then just to croak it a couple of years later - That's not for me at all.Another 19 years (and counting) and that's it for me.
25 March 2011, 04:01 PM
#37
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I also knew a chap who smoked very heavily and from diagnosis to death was about 2 month. Visually the difference in such a short space of time was horrific.
25 March 2011, 04:57 PM
#38
Same here, I own a few now, going to buy two more by the end of this year, all going well I will retire at 50. Unfortunately with a slightly smaller final salary pension from mt employer, but I have seen a lot of older guys retire at 60/65+ then just to croak it a couple of years later - That's not for me at all.
Another 19 years (and counting) and that's it for me.
Unfortunately with a slightly smaller final salary pension from mt employer, but I have seen a lot of older guys retire at 60/65+ then just to croak it a couple of years later - That's not for me at all.Another 19 years (and counting) and that's it for me.
25 March 2011, 05:12 PM
#39
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Same here, I own a few now, going to buy two more by the end of this year, all going well I will retire at 50. Unfortunately with a slightly smaller final salary pension from mt employer, but I have seen a lot of older guys retire at 60/65+ then just to croak it a couple of years later - That's not for me at all.
Another 19 years (and counting) and that's it for me.
Unfortunately with a slightly smaller final salary pension from mt employer, but I have seen a lot of older guys retire at 60/65+ then just to croak it a couple of years later - That's not for me at all.Another 19 years (and counting) and that's it for me.
I have one with about 25k of equity in it. Currently weighing up whether to sell or not!
5t.
25 March 2011, 05:13 PM
#40
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My great aunt smokes like a chimney and has done for most of her life. She's in her late 80s and until her dog died recently, she would go walking twice a day. I can't believe she's still standing to be honest, she is as skinny as a rake and smokes Marlboro full fat 100s!
So we all know someone who has defeated the odds, but it doesn't defer from the fact that smoking does kill and has been making people's life a misery since it was introduced. I cannot believe people thought smoking was good for you! The hacking cough should have given it away!
So we all know someone who has defeated the odds, but it doesn't defer from the fact that smoking does kill and has been making people's life a misery since it was introduced. I cannot believe people thought smoking was good for you! The hacking cough should have given it away!
25 March 2011, 06:06 PM
#41
I reckon hold fire for a few more years, so long as it's not causing you bother financialy. Could earn far more far faster than with anything else
25 March 2011, 06:15 PM
#42
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My mum smokes 40 a day. Now she has breast cancer. Nothing to do with smoking.
I only know of a COUPLE of people who have died from smoking related illnesses. All the other people (a dozen plus) died from other things, not related to smoking.
Ive done the champix and it didnt touch me. Must be immune to the stuff. Gum is disgusting, the inhaler is like sticking your face into an ashtray and breathing it in - totally disgusting. Patches make me come out in rashes.
As far as non-smokers go, if you visit me, YOU can stand outside in the frickin cold while I have a cig INSIDE my house.
Put that in ya non-smoking pipe and smoke it.
I only know of a COUPLE of people who have died from smoking related illnesses. All the other people (a dozen plus) died from other things, not related to smoking.
Ive done the champix and it didnt touch me. Must be immune to the stuff. Gum is disgusting, the inhaler is like sticking your face into an ashtray and breathing it in - totally disgusting. Patches make me come out in rashes.
As far as non-smokers go, if you visit me, YOU can stand outside in the frickin cold while I have a cig INSIDE my house.
Put that in ya non-smoking pipe and smoke it.
Last edited by Mus; 25 March 2011 at 06:20 PM.
25 March 2011, 06:19 PM
#43
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i got this house on the market with lovely vendors they have a house in france with farm land and they selling there house in london to move to suffolk. they spend six months here and 6 month there.
i would happily retire if i had that and maybe another 2 properties but mind you all there kids are old now im 28 and i havent even got kids so by the time ive had some and there old enough id be in my 60s
25 March 2011, 06:26 PM
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25 March 2011, 06:33 PM
#46
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I currently have two on the go that I have renovated and will be selling, I also have three stable rentals. One has no mortgage, the other two are second residential mortgages (around 50% equity in both & with permission to let
) I will be buying two houses (Approx £160-170k) shortly, with BTL mortgages 60% LTV on both. It's quite easy to get mortgages if you have the deposits.
It might all go **** up, but it's something I have wanted to do for years and fancied having a dabble.
25 March 2011, 08:07 PM
#49
So you're right in your later post, one way to look at it is a shed load of debt but it's working for me. Mortgages suck, I resent paying interest to anybody and that is a mahoosive lot of interest so the faster I get it gone the better
25 March 2011, 08:13 PM
#50
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I don't need to explain my whole life, I was simply stating I find pensions too much of a gamble. The future is a complete unknown, but all you can do is make the most of the information given to you to come up with the best solution that suits YOURSELF.
25 March 2011, 08:24 PM
#51
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No not paid off, on the way though. One pays its own mortgage and half of the other mortgage. Got about 60% LTV on both atm and saving to pay off where I live in approx 4-5 years. Then I can semi retire or carry on working for a little while to load up on cash.
So you're right in your later post, one way to look at it is a shed load of debt but it's working for me. Mortgages suck, I resent paying interest to anybody and that is a mahoosive lot of interest so the faster I get it gone the better
So you're right in your later post, one way to look at it is a shed load of debt but it's working for me. Mortgages suck, I resent paying interest to anybody and that is a mahoosive lot of interest so the faster I get it gone the better
I'm trying to get my own place first before I think about 2nd properties. I'm close to having the cash ATM to buy somewhere that is somewhat better than average. I don't want 100 of 1000's in a mortgage. The way I see it if I own a home outright that I would be happy living in for years and years then I have quite a lot of security if that makes sense, then I can do whatever.
25 March 2011, 08:38 PM
#52
Yes agree with that.
I'm trying to get my own place first before I think about 2nd properties. I'm close to having the cash ATM to buy somewhere that is somewhat better than average. I don't want 100 of 1000's in a mortgage. The way I see it if I own a home outright that I would be happy living in for years and years then I have quite a lot of security if that makes sense, then I can do whatever.
I'm trying to get my own place first before I think about 2nd properties. I'm close to having the cash ATM to buy somewhere that is somewhat better than average. I don't want 100 of 1000's in a mortgage. The way I see it if I own a home outright that I would be happy living in for years and years then I have quite a lot of security if that makes sense, then I can do whatever.
Great to hear you nearly have the cash, I find it really enjoyable saving money - more of a passive enjoyment if you know what I mean, I'm not some kind of weirdo.. :
It's amazing how cheap you can live if you try and make sacrifices then the money starts piling up
When I saved for the second place I took it to extremes, sold everything I had of value including my scooby, drove a rust bucket. Got rid of sky, internet, home phone. Spent little to nothing on myself, ate really cheap food... etc etc Anyways, I beat my target date by 7 months in the end!Best of luck to you and much respect for someone doing something about the "first time buyer" impossible blah blah thing. Gets on me **** heh.
27 March 2011, 04:55 PM
#53
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Silk Cut - the *** of pussies.
B&H Gold - puts hairs on your chest!
Most modern pension shemes allow you to complete an "expression of wish" - not a trust as such as the pension itself is wrapped in a trust. The expression of wish indicates to the pension trustees who you wish the money to be paid if you die. In probably all cases the entire pension fund is paid to whoever you wish.
Plus, £80 isn't enough. Unless the premium is going to go up in line with something like inflation or a % of her wages it won't produce enough at 65 to provide a reasonable income in retirement.
If you are thinking of about £100 a month, a stocks and shares ISA might be better suited and is far more flexible. On death, the ISA status is lost and can either be encashed or will become a collection of Unit Trusts which could be passed to your wife.
make sure your Wills are up to date too.
B&H Gold - puts hairs on your chest!
Most modern pension shemes allow you to complete an "expression of wish" - not a trust as such as the pension itself is wrapped in a trust. The expression of wish indicates to the pension trustees who you wish the money to be paid if you die. In probably all cases the entire pension fund is paid to whoever you wish.
Plus, £80 isn't enough. Unless the premium is going to go up in line with something like inflation or a % of her wages it won't produce enough at 65 to provide a reasonable income in retirement.
If you are thinking of about £100 a month, a stocks and shares ISA might be better suited and is far more flexible. On death, the ISA status is lost and can either be encashed or will become a collection of Unit Trusts which could be passed to your wife.
make sure your Wills are up to date too.
Les
28 March 2011, 11:10 AM
#57
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I was in the local Mace store buying a paper and noticed the price of 20 smokes. now the store has a bit of a captive market in that they are the only small newsagents in a large business/retail park. there are quite a few big government buildings not far from the shop. anyhoo, the price of the ****. £7.90 for marlboro and embassy 
seven pound ******* ninety. seriously!!!!!
seven pound ******* ninety. seriously!!!!!
29 March 2011, 06:08 AM
#59
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So you stay inside and help keep the disgusting, stale, pong contained.
29 March 2011, 07:38 AM
#60
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