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Count me in

Discussion in 'Retirement' started by angiebabe, Jul 29, 2011.

  1. angiebabe

    angiebabe New commenter

    Count me in for this forum, I am bound to have lots of questions.
    I have not really come to terms with the whole big R thing yet. Am thrilled but then really worried about the whole budgeting thing. I struggled all my life to make ends meet until I became a teacher in my mid-thirties (and being a single-parent). The joy of my salary as the years rolled on was that I could shop without worrying too much. Don't get me wrong, I didn't see myself being able to spend, spend, spend, but the money was good and I didn't have to save every penny to pay my bills etc.
    The thought of having to be super careful yet again really is making me anxious. I know what I am like when I have to scrimp, I become miserable and depressed. I have learnt that money doesn't make you happy but worrying about not having enough surely does make you unhappy.
     
  2. angiebabe

    angiebabe New commenter

    Count me in for this forum, I am bound to have lots of questions.
    I have not really come to terms with the whole big R thing yet. Am thrilled but then really worried about the whole budgeting thing. I struggled all my life to make ends meet until I became a teacher in my mid-thirties (and being a single-parent). The joy of my salary as the years rolled on was that I could shop without worrying too much. Don't get me wrong, I didn't see myself being able to spend, spend, spend, but the money was good and I didn't have to save every penny to pay my bills etc.
    The thought of having to be super careful yet again really is making me anxious. I know what I am like when I have to scrimp, I become miserable and depressed. I have learnt that money doesn't make you happy but worrying about not having enough surely does make you unhappy.
     
  3. yes I agree roseangel- going to try to flog some school outfits on ebay as I am not even going to do supply and without all those breaktime treats needed to survive if I lose weight my clothing choices will increase. Petrol bill should halve and the slo cooker will cook all those cheaper cuts etc if I can get the ground here more fertile and sun to come out my salad growing will be more successful. We are planning to move house and I am hoping for less council tax and fuel bills as well.
     
  4. lindenlea

    lindenlea Star commenter

    Haven't felt too restricted so far and it is easier to cut costs when you're not at work as previous posters said. I am good at scrimpimg on things that I don't care about so there's enough in the kitty for the things I want. These first two years have been about making choices and I feel very lucky.
    So, what are your plans angiebabe? Actually I hated people asking me that as I was so knackered and the whole point seemed to be to not to have to plan ever again!
    I remember a parent at the door on my last day asking what I was going to do and I replied rather too quickly "I'm going to get a life". i don't think she thought that was appropriate from the woman who had been teaching her darling daughter for the previous year - but i do now have a life.
    I took a look at my old school's website the other day and thought how tedious it all seemed, although it used to mean so much to me. I think I have moved on.

     
  5. angiebabe

    angiebabe New commenter

    Haven't made any great plans as yet. Of course the whole house needs de-cluttering and redecorating but heyho that's generally an annual event for teachers. Feeling a little overwhelmed at the moment as I have so many choices/options to think about so feel a little stressed about it. The money thing is another worry as I mentioned in OP. Will try to just take one day at a time but terrified I am now going to get sick and can't seem to get rid of all my teacher stuff so house and my head feels very cluttered. I'm rambling now, must get back to trying to tidy some stuff away as my daughter and granddaughters are coming to stay for a few days, which will keep me occupied.

     
  6. lindenlea

    lindenlea Star commenter

    Everyone told me to take my time and they were right. It's a huge change so don't expect to adjust overnight. You hear of people finding the first year hard and then really settling into a new life happily and others who have a ball at first and then hit a brick wall after a few months. My OH has been as happy as a pig in muck from day 1 though so you never know.
     
  7. angiebabe

    angiebabe New commenter

    Thanks lindenlea for the advice. Will probably need more as the weeks roll on, so expect more posts from me[​IMG]
     
  8. Have to admit that I am worrying a lot about retiring, I had hoped that I could do one more year because that will help my state pension so much. Now looks like my husband will need my 24 hour care so may not have any option.
     
  9. lindenlea

    lindenlea Star commenter

    That sounds tough midgey - I'm sorry to hear it.
     
  10. Don't forget that the rules on State pension have changed and you don't need so many years to qualify now. Check whether continuing to work really will affect your state pension.
    If you are taking your teacher's pension early you lose 5% for each year you take it early. I still think it's worth it for me.
     
  11. Thank you for that thought, but I was hoping to go on to 65, partly because I enjoy it so much and partly because it is respite from caring for a man with the beginning of degenerative brain disease (the effect is exactly the same as Alzheimers). Heigh ho, in sickness and in health and all that......
     
  12. You would get automatic NI credits 'if you're caring for one or more sick or disabled people for a total of 20 hours a week or more' so stopping work should not make any difference to your final state pension. Its worth checking your state pension forecast, if you have not already done so, to see how many more years you need, to get to 30 years for the full state pension.
    The option of taking your teachers pension at 60, and then returning part time is worth looking into as you could finish up with the same income while only working part time. You could then start a second TPS pension for the post 60 teaching.
     
  13. At 63 I don't pay NI nor can I buy any more of anything either 1)I am too old or 2) it would be prohibitively expensive. By working past my official retirement date I have increased my pension, if I can manage one more year I will have increased it by 50%. I belong in the group that needs 39 years to qualify, so to put it politely ever so slightly stuffed! Will have to follow the other thread about how to make money after retirement!
     
  14. Hi All
    I have personal messaged a few people with a suggestion for earning extra income but thought it may help to put a posting here.
    My husband and I left teaching a few years ago (when my husband's school closed) and shortly after we were introduced to the following business which is great. The business is based on recommending services to people....it is not hard sell. It is something that you can easily do alongside retirement/supply etc......
    You set up your own business for a VERY small amount and then it is up to you how fast or large you grow it.
    What it also would do.for you....... is that through regular local meetings, training (which is free) and regional or national events you meet lots of other interesting people. It got us circulating in the outside world beyond the classroom and we enjoy it immensely.We now know other teachers who do this and many other people from all walks of life AND of all ages. (we met someone in their 80's just starting)
    Have a look at our website and at the bottom of the home page click on Earn with Us....this will take you to a video which explains a bit more. If after looking you are interested in coming to a 'local ' meeting, we are happy to sort that for you.....perhaps you could personal message me about that or give us a call via our website below Kind regards www.yousavenow.co.uk
     

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