How to save for retirement?

[kevinjohnsonmbe]

2 hours ago, Woodworks said:

No mortgage for the time being but we already live cheaply and are relatively self sufficient.

I dont earn much but spend even less.

Love it!

 

What about put all spare £ aside to fund the build of a log cabin that could provide holiday let income?

[skyhuck]

I've come to the conclusion that my best option is to die young.

[Gary Prentice]

2 minutes ago, skyhuck said:

I've come to the conclusion that my best option is to die young.

Too late for that 

[skyhuck]

16 minutes ago, Gary Prentice said:

Too late for that 

 All things are relative 

[kevinjohnsonmbe]

3 minutes ago, skyhuck said:

 All things are relative 

“Old” keeps getting further away! Way things are going with the age of state pension keep going up, makes you wonder why you bother with NI!

 

im more concerned by the thought of being “old” rather than skint!

Edited December 13, 2017 by kevinjohnsonmbe

[Mick Dempsey]

It’s a tricky one, I think things were easier 40 years ago, less choice.

 

Anything stock market related always gives me the jitters, all so intangible.

 

Property is probably the most solid, if you can afford a second mortgage for a buy to let. 

[Yeti2018]

I'd max out your premium bonds allowance. Rock solid safety and a chance of winning a big prize every month. Once this is filled up, I'd try and buy some land or yard which you can use now but can rent out upon retirement. If your lucky enough to have done this, you could then buy maybe a gold soveriegn every month for about £200 odd and then when you retire you can cash in your gold and hopefully it would have risen. 

[Woodworks]

4 minutes ago, Yeti2018 said:

I'd max out your premium bonds allowance. Rock solid safety and a chance of winning a big prize every month. 

We did try that for a period when between homes. We had the full allowance at the time of 30k in there and had way bellow average luck over 2 years. Since then they have lowered the odds so did not fancy taking that rout again but maybe look into it again as it was some time ago.

[htb]

1 hour ago, Woodworks said:

We did try that for a period when between homes. We had the full allowance at the time of 30k in there and had way bellow average luck over 2 years. Since then they have lowered the odds so did not fancy taking that rout again but maybe look into it again as it was some time ago.

Its not any better now

[Matthew Storrs]

Is Land worth a punt? I’m sure it depends on the quality of land and location but surely would increase in value regardless and some income to be made from renting out etc.. got to be better than having money sat in the bank