i really dont know what to do !!

Sheffield · Feb 19, 2021

Allowing people to turn their pension pot into spendable cash is one of the worst things a government has done. The state pension is not enough to live on comfortably. You will need your cash when you can not work and earn anymore.

Nodge68 · Feb 19, 2021

Sheffield said:
Allowing people to turn their pension pot into spendable cash is one of the worst things a government has done. The state pension is not enough to live on comfortably. You will need your cash when you can not work and earn anymore.

Absolutely, and owning your own home isn't a guarantee of low housing costs for the future. A house can present the owner with enormous unexpected bills, like if the boiler fails, or it needs re-roofing, and having £30k tied up a deprecating asset won't help when cash is needed.

Colthebrummie · Feb 20, 2021

When I retired early, the company pension department explained my options. One of them was to take a lump sum. When I did the sums, I would have live to 90 to be better off not taking it. There are tax considerations to take into account over the long term.

Col

i really dont know what to do !!

Sheffield

Well-Known Member

Nodge68

Well-Known Member

Colthebrummie

Well-Known Member

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