time is almost up

its coming, relentlessly, its coming. That magic figure when you become officially old. And it also means that my extremely private pension comes of age, six years before the state pension kicks in,so what to do,what to do?

I had decided to take 25% tax free and then recieve monthly payments from an annuity, and adding to that the fact that without having to pay in anymore I would be a little better off. However……….. had a rethink today…………what if I took the whole sum? I know 75% would be taxed, but the monthly pension would be subject to tax too because added to my earnings it might take me over the tax threshold and therefore I may not even notice I have it, so maybe it might be beneficial to take the whole pot, put some into my little ISA, and the rest into some kind of other thing, dont know what . Would have to talk to bank about the options for that. Its all so complicated. Why did they have to mess around with it? Most of us have no clue about things like this and why would we? The new rules seem aimed at those who have lived in wealth and understand all the options for making money from money. Frankly, I dont understand it all. This is why I need to keep it simple.

As I see it , today anyway, I can take the pot, invest it, recieve income from it via tax free ISA accounts or similar, will be released from the monthly pension payment, which will automatically make me feel better. The studio WILL be built in the garden, thus releasing me from the studio rent too. I will be £100 a month better off by just doing that, which is like £25 a week…….not much, but enough to make a diference to somebody like me.

If anyone out there who is reading this has any advice or suggestions i would like to hear from you. I have only a few months as the big 60 comes at the end of May.

And yes, that is also a bit of a hint to surprise me with fabulous birthday cards…..

I would love to mark it in some way, but cant decide how. Im not a party person, very stressful to me. Im not jumping out of an aeroplane (airplane to any yanks out there), might consider a flight in a glider, or a day of driving a racing car, or……….oooo, a day at the horse races……was gonna do that last year but failed to………….or just bugger off to Barcelona or Madrid or Malaga or Granada for a weekend of sunshine………cant decide. And thats followed me around all my life, unable to make decisions.

Im waiting, folks !

Love all, hurt none, and walk in soft shoes

Isi Tart

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