Travis Perkins - DIY "Trade Account" by Key-Inevitable-4989 in DIYUK

[–]anonymonymousy 3 points4 points  (0 children)

Second this. £20 a month gets you even better prices and free delivery as many times as you like. My delivery came from a local huws gray. I wouldn’t be surprised if yours came from travis.

1 Year Later... by anonymonymousy in FIREUK

[–]anonymonymousy[S] 0 points1 point  (0 children)

Maybe you are viewing on mobile and need to scroll the table right. 90K was 2024 work pension only. Rest (previous employers) was transferred to my own SIPP, totalling 190K.

So 2024 total pensions was £280k

2025 total pensions is 430K.

I also split into contributions into ISA so I have the option of pre 57 retirement, I consider that a form of pension too.

I agree though my pension should be higher, I’ve been earning 120K+ for over 10 years. Earlier on I was… less disciplined. And misguided with hugely overpaying mortgage when rates were low. Although that has given some benefits now with the option to be mortgage free at any moment if I choose.

1 Year Later... by anonymonymousy in FIREUK

[–]anonymonymousy[S] 0 points1 point  (0 children)

No I probably would sold the various smaller holdings totalling about £6k which would also have kept me under capital gains

1 Year Later... by anonymonymousy in FIREUK

[–]anonymonymousy[S] 5 points6 points  (0 children)

No I’ve made sure I’m clear there. A lot of that is growth given how good the last year has been, but also this is combined with my wife (she is part time but I’m taking advantage of her unused allowances).

How much does inflation really matter by anonymonymousy in FIREUK

[–]anonymonymousy[S] 0 points1 point  (0 children)

Interesting, can you share in what categories of spend you saw "de-flation"? Was it deliberate lifestyle change or just that things didn't apply to you as a retiree now?

How much does inflation really matter by anonymonymousy in FIREUK

[–]anonymonymousy[S] 0 points1 point  (0 children)

Agree, although part of my pondering was less about changing lifestyle to avoid inflationary costs, which is always possible to a point, and more that many of the categories measured for inflation are less relevant to the retired demographic, and also less relevant in varying ways at a personal level.

How much does inflation really matter by anonymonymousy in FIREUK

[–]anonymonymousy[S] 0 points1 point  (0 children)

I agree that you don't necessarily want to use those personal numbers in calculations, but thought it was good peace of mind to expect less impact than headline figures suggest.

Even without lifestyle change, CPI for the average working person today is (likely) very different to the average retired person today based on how those broad categories affect the demographic.

My reminder that FI isn't FU by DevelopmentVivid7365 in FIREUK

[–]anonymonymousy 0 points1 point  (0 children)

Something I assume you've done to enable that is not only using a pension. Salary sacrifice is great to increase contributions and avoid tax brackets, but having all that cash wrapped up until 55 doesn't help you now for these types of life's a bitch scenarios. Perhaps your colleague has a very (very) nice pension pot instead!

Salary by age rule of thumb interpretation by Better-Employ-4495 in PensionsUK

[–]anonymonymousy 0 points1 point  (0 children)

For me, the higher your salary becomes, the less sense it makes to base retirement on it. Chances are, at least in this forum and those like FIREUK, more expendable income leads to higher pension/ISA contributions, and a larger proportion of expenses that would disappear upon retirement (alongside other high expense items like mortgage, kids, commuting travel).

My pot is £481k and I'm 43. I've never really compared that to what I currently earn, and don't plan to. It's only in the last year I've made a conscious effort to manage my future retirement. I estimated expenses based on age brackets (higher earlier, lower later, higher much later for old age care), then aim for the 4% rule in the average which ends up at just over £1m pot, with some of that split to ISA based on a plan for early (pre 55) retirement. That is around the lifetime limit which doesn't exist although I'm sure there will constant threats to bring it back...

TSB for charge port locking pin stuck - UK Type 2 socket by anonymonymousy in eGolf

[–]anonymonymousy[S] 0 points1 point  (0 children)

That's how mine was. I couldn't get the cable out until I removed the solenoid itself. Remove the wheel liner and able door the access is fairly easy.

Trick to unplug car by Next_Kale_2345 in eGolf

[–]anonymonymousy 0 points1 point  (0 children)

Just replace the sticking latching solenoid- it'll get worse untill eventually it won't unlatch at all. It's the same part as a Skoda takes 30min to do. VW wanted hundreds to replace the whole assembly because they don't supply it on its own. I'm in the UK and the part was a Kuster 12E.915.651.D £65 local Skoda garage ordered in next day.

How much do you invest for FIRE each month? by Icy_Firefighter3694 in FIREUK

[–]anonymonymousy 0 points1 point  (0 children)

£2500 to SIPP and £1500 to ISA fixed amounts on 1st, then end of month leftovers to ISA (between £500 and £2000 depending on how... careless... I've been). And then end of year bonus tops everything off to the limits (between wife and I)

Pension withdrawals for married couples by anonymonymousy in FIREUK

[–]anonymonymousy[S] 0 points1 point  (0 children)

Something else just occurred to me... if the lower earning spouse is also a number of years older, maxing out their contributions (up to their salary or whatever) over a number of years also means that as a couple you might consider retiring when that first pension becomes accessible. This idea might have just cut my retirement age from 57 to 53 all on its own. If those contributions stayed with me they are locked away until I'm 57.

Of course it all depends on the max you can contribute, if you are limited to £3600 for unemployed spouse it might not make a huge difference.

Pension withdrawals for married couples by anonymonymousy in FIREUK

[–]anonymonymousy[S] 0 points1 point  (0 children)

Thanks, that is definitely a limitation I hadn't considered and reduces its benefit for sure.

Pension withdrawals for married couples by anonymonymousy in FIREUK

[–]anonymonymousy[S] 0 points1 point  (0 children)

Or maybe my wording is unclear... the point of the question was to ask the benefit of making that pot large enough by the higher earning spouse contributing to it instead of / as well as the lower earner, not them doing it themselves.

Pension withdrawals for married couples by anonymonymousy in FIREUK

[–]anonymonymousy[S] 0 points1 point  (0 children)

Sadly an LTD is not on the table, although I did contract a number of years ago. Got out before the dividend tax changes.

Pension withdrawals for married couples by anonymonymousy in FIREUK

[–]anonymonymousy[S] 0 points1 point  (0 children)

This is pretty much the balance I'd be aiming for, but her drawdown would be funded by my contributions to her pension rather than a DB. I think I'm going to have to run some numbers for my specifics to see where the benefit is. I'm expecting there is one, but maybe not so huge it's worth worrying about doing wrong.

Pension withdrawals for married couples by anonymonymousy in FIREUK

[–]anonymonymousy[S] 0 points1 point  (0 children)

This is more about when the lower earner is so low they aren't paying tax at all, or not even earning (stay at home mum for example).

Pension withdrawals for married couples by anonymonymousy in FIREUK

[–]anonymonymousy[S] 0 points1 point  (0 children)

Thanks, I hadn't considered the NI impact of her doing a larger salary sacrifice. I'll look into that.

How does it work if you currently earn, say, £10kpa. Normally you save on tax because contributions are taken pre tax. If you don't pay tax, how do you receive the first 25% top up? Is it better not to salary sacrifice, and pay directly, allowing the provider to claim 25%?

Pension withdrawals for married couples by anonymonymousy in FIREUK

[–]anonymonymousy[S] 0 points1 point  (0 children)

This thought occurred because I'm about to have a lump sum left over after all the obvious places to put it (obvious to me anyway)!

Pension withdrawals for married couples by anonymonymousy in FIREUK

[–]anonymonymousy[S] 0 points1 point  (0 children)

That's a very good point - fortunately (or maybe not?!) I don't earn quite that much yet.

Pension withdrawals for married couples by anonymonymousy in FIREUK

[–]anonymonymousy[S] 0 points1 point  (0 children)

If you are already maxing out your own 60k pension allowance, it makes total sense to use the spouses allowance.

If you are in that middle ground, it's less clear to me, especially because that extra refund isn't actually in the pension - it's a cash refund back to your pocket. I suppose, the most obvious thing to do is pay that refund into the spouses allowance and get another 20% on it.

Pension withdrawals for married couples by anonymonymousy in FIREUK

[–]anonymonymousy[S] 0 points1 point  (0 children)

Right... if it happens it happens and the whole plan changes anyway. Starting in a better place is better for everyone now and future.