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Morning Joseph, another honest and genuine video, thank you. You and your good lady are striking a great balance of saving but living a good life. Congrats to you both. You are both doing great at such a young age.

Well said a private/company pension is a must but unfortunately not for those on the minimum wage who can't afford it.

NO!

If you want a comfortable retirement, then save for it through a private pension or savings. Don’t expect the taxpayers of the future to fund the retired lifestyle you think you want.

Fab presentation ! ❤

One of the concerns I have in pending pensions, particularly female ones, ie: time away from employment to educate and raise your family, is it worth paying the lost years (possibly up to 13/16 years) Martin Lewis advised us 😮? Considering there's conflicting rumours of means testing in next 10/15 years, the money I pay into the pension, from hard earned finance, will be deemed as a benefit not as an entitlement regardless of years paid towards the system 😮. Your thoughts 😊?

Another fab video Jacob. You are wise beyind your years. This is the video all the "youngsters" should watch.....ie anyone under 50 (im 56 lol) 😂. I bought my first car in 1990 at age 23, two weeks after passing my test (first time....im still proud of that😂)......and that car was a 1967 Triumph Herald, which was same age as me. All my friends were buying new Ford Escorts or Vw Golfs etc on 4 or 5 year bank loans and said i was a fool to buy a 23 year old car.....well, i bought that Herald for £350 after my mechanic had checked it over and told me it was mechanically sound and virtually no rust and only 28,000 on clock. It sailed through its next 13 mots and i had it serviced every year at minimal costs due to it being a very simple car which i loved. In 2003, a chap offered me a huge amount of money as he was looking for a Herald to restore......I sold my darling Herald for £7k. By then I was working for an OEM car manufacturer, Ford, and I bought a brand new KA in 2003 with a 30% Staff discount and paid 50% deposit, 50% on 0% finance for a year....grand total £3250. I kept the KA until 2019 until a woman crashed into me and her insurance deemed my KA a right off. Due to its fab condition, they paid me £1400....£1850 depreciation is not bad for 16 years of motoring. I took that cash and added more cash and brought a one year old Hyundai i10 from a friend (who had won it in a competition) for £5k. My commute to work was a 6 mile round trip. Since 2020 ive worked from home and took a welcome redundancy (was planning to retire anyway) in Feb 2024. AnyCar valued my car at £8k last week.... Hence I agree with your advice 1000000%.... dont lease hire a depreciating asset. Of course I've been exceptionally lucky with the Herald and ive never had long commutes.....but people do need to be sensible. I have two standing orders that leave my account every month 1) replacement car fund and 2) the cat's private health vet insurance fund....😅😅😅

Currently in the planning process of my wedding. My partner & I are not particularly bothered about a videographer as we can’t justify spending the money to rarely rewatch our wedding film, plus photography in my opinion is more important. (Also our photography quotes have been £2000+… yikes) Nevertheless, I am kind of scared in case we live to regret skipping booking the videography…

The simple answer is no, especially if you never earned enough money to get a mortgage. Try this rent £650 council tax 200 energy £200 total £1050 still got no food now choose between Heating and eating

My wife is 10y younger , that's a problem if you want to retire at the same time and you only rely on the state pension 😂 Otherwise, the same, 20k per year for both of us, is enough to cover all our basic expenses in London. To make it more comfortable i need 50k per year and retire at 55 😁

I’ve done the same role (pretty much) for 23 years. I have, unsuccessfully, applied for promotion a couple of times but honestly I’m glad I didn’t get them. I work shifts which suit my lifestyle, and like yourself work mostly from home since Covid (3 office days every 4 weeks). I’m 4 years from early retirement and have no intention of looking for a different role in that time. When I was your age I was much more ambitious and career driven to be honest, but I have every respect for those who are happy at their level and do a good job.

Another great video. Like yourself i was sent home in March 2020, and continued WFH until April 2023 when we were told we needed to work from the office 20% of contracted hours, ie one day a week. My home was only a 6 mile round trip from the office but the time saving alone, ie trying cross Stratford-upon-Avon town centre is no mean feat/40 mins each way, meant that i really loved wfh. However the biggest advantage to me was being able to focus better, not be interrupted by colleagues who liked to chat, being able to dial direct into ms teams or zoom mtgs without hassle of finding which mtg room. I actually worked more unpaid over time wfh so company benefited. However as ive wittered on in your comments before by age 55 in jan 2023 i was ready to take early retirement and just as i was doing my final retirement numbers crunch in June 2023, i was told my role was being made redundant and with no suitable alternate role i took a generous enhanced redundancy at end Fen 2024. I basically received equiv of 2 years salary for not working the next 2 yeas which i want going to work anyway....thank god i never mentioned i was thinking of retiring.....and interestingly my ex employer is now seriously considering revoking wfh as (ageist alert) the 18 to 35 year olds are not performing well wfh. I feel so so grateful that my last 4 years of work were wfh.

Is it simple switching? Makes me nervous the idea of doing it..!

Nice wedding... Looks like you had around 50 guests? Did you buy or rent the Mr and Mrs sign for the dance floor?

Work is something you do, not a place you go. I get way more done at home than I could in an office!

I could work from home with my job (accountancy) and I did during the pandemic, however, I only live five minutes drive away from work so I don’t mind going into the office. On petrol I usually spend around £32 every 5 or 6 weeks.

I work full time from home. I used to commute to central London by car. It is a massive saving like you had. I am about to retire but will not have that big saving when I do. Your risk is the huge cost of your company deciding to insist you return. My company have started to insist for most staff (but they know I would just retire quicker if they insist I return). I think the important thing for you is not to get used to that ‘raise’ and come to rely on it.

Good thinking! My wife and I needed to replace our cars just before Christmas, to a 6 year old VW UP! and a 12 year old VW Polo. We haven't needed to spend a penny yet apart from fuel, both paid for cash so no monthly payments - just maintenance.

I brought a second-hand car 4 years ago genuinely one lady owner full service history and MOT certificates with it. It was a 15-year-old Micra cost me £490 cash. I just driving it around my local metro area so not much more than 30 miles from home. Over those 4 years I have spent about £1920 on petrol, insurance £1400, road tax 900, breakdown cover £300, service MOT £480, repair £210. A total cost in 4 years £5700 so a monthly cost of £119. To get a local metro area (covering the area I drive) Bus,Tram,train travel card cost £124 monthly £5 more. So I pay less but l get the comfort of coming and going when I please. Even if I need to hire a better car/van for a week once a month I can do so for around £220 for the week, so even then I'm only spending £339 a month.

Never ever bought a brand new car and never would. Total waste of money. My current car is 13 years old and I make sure I service it regularly at a reputable garage to look after it.

I agree with you, I have a Ford fiesta and it’s 21 years old. I bought it outright in 2003 for under £9,000 brand new. I would never dream of buying a car with a month payment of £800 + per month, that to me is crazy. My mortgage payment is only £325pm.

I am struggling to understand the State Pension in the UK as both myself and my partner are foreigners. I am on 37k and my partner on 100k hence we pay massively different NI/Taxes. However, when we go to the Government Forecast Website we both got the same. Doesn't the state pension differs based on your contributions? I am from Portugal and when you retire, you get a reduction on your salary but it's not a massive one. I thought it was the same here but I am starting to think it's not... If someone can help me. Thank you!

NO IT BLOODY WELL ISNT.PERIOD.

Thanks for doing this video. I hope to retire soon and now know that the state pension will barely cover basic needs. Keep up the good work.

I think this kind of working ethic resonates with a lot of younger folks nowadays. I have been within the same government department for 33 years albeit different bosses and work but on the whole, delivering the same outcome. I went from being a manager to being a "shop floor" worker but strangely, earning more money overall but with less responsibility. So it's one of those, very good money but happiness in the job has swung lower on the pendulum. It currently feels like I am just in the job to pay off the mortgage as quick as possible then re-evaluate my goals going forward. Personally, I would say only working 1 day and working from home is not a healthy option as interaction and experience comes from the environment you are in. If it works for you dude, then happy days and keep up the youtube vids, entertaining :)

Totally agree with everything you said mate. In a way you were promoted, as in promoted to be allowed to work from home which also resulted in a pay rise with the savings on commuting costs. I think the pandemic convinced a load of people, including myself, that the hassle of the commute is just not worth it. Time to do what you love doing is far more precious then committing time an energy to a promotion if you don’t need the dosh. Live within your means, be happy and enjoy the relatively short time we have on this planet.

Back in 1980 for every six pounds an unemployed person got in benefits a pensioner got seven. Now that seven is almost fifteen for a new pensioner.

I have worked for the same company and doing much the same job for 37 years. Since the pandemic started I have worked from home and never go into the office ever. I loved my job. It has changed over the years as technology changed but it’s much the same. Now I am ready to retire. I will do so happily. I do not regret not flipping jobs. The only downside is that I probably didn’t get the pay rises and promotions you might get from job hopping but it’s been nice being a bit of office furniture.

you don't have to retire to have adventures... unless it's stressful or stops you doing the things you like you might as well keep working. You can also drop the hours and work part time. Don't just retire with nothing to fill your time, if you do retire early (or at any time) make sure to stay active and find stuff to challenge you physically and mentally.

You can survive if you reduce your debt ensure all unnecessary debt is paid off then you can save more for your pension

Why are your expenses £921? Mortgage free here and my monthly outgoings are around £680.

Some individuals retire early and then live into their nineties, finding themselves with insufficient funds because they retired too soon. To avoid this, it is advisable to estimate your life expectancy based on various factors such as family history, medical conditions, and lifestyle choices (e.g. smoking, drinking, obesity and regular exercise). The Office for National Statistics (ONS) website has a life expectancy calculator. For example, the average life expectancy for a 60-year-old male is 85 years, while for a 60-year-old female it is 87 years. Furthermore, an average 60-year-old male has a 1 in 4 chance of living until 92. If you have a healthy lifestyle and a family history of longevity, your expected life expectancy is likely to be higher than average.

Am I just weird as I enjoy working?

By the time you get to 50 you might find you have paid off the mortgage and have low outgoings, so you will be able to up your contributions and maybe retire early. I'm aiming to retire at 60 but it might be 61 if my funds don't increase enough.

I already retired at 56. Paid the house off. Took redundancy from the NHS and because i was at the minimum retirement age for the pension i retired. I have to wait another 10 years for the free money. Keep paying your taxes good citizens.

The Government is so wasteful with tax payers money. It gives billions to monopolised deals with corporations, billions to senior public sector salaries and perks, billions to war and defence commitments, billions to immigrants, billions to fraud, and billions to a tax and benefits system that is abused so badly that we have an unaffordable housing market. There is a crisis looming and the number of pensioners in poverty is about to sky rocket. So much of our tax is being diverted into rich peoples pockets and corporate coffers. The way taxes are used needs whole-scale reform and high on the list of priorities is giving pensioners enough money so that they can survive.

Retired 56.5. turn 62 this fall

Get out when you can❤

I retired 2 months ago at age 60, found out friend of a friend just diagnosed with cancer, get out while you can.

I agree with the content. When l retire l will travel as much as l can as it is my passion. I will also learn a new language. If l want to contribute to society l will do some voluntary work. The only reason l have not retired before 66 is due to finances, paying rent and waiting to claim the state pension. I fully believe anyone who is in a good financial position and does not want to work longer should retire earlier.

Enjoyed your presentation, thanks very much for the information.

I’m 55 and planning to retire at the end of the year at 56. I already have enough ($6.5M including my home) to fulfill my plan to travel perpetually slowly - the only thing holding me back is that I make over $500K/yr, but only for the last 5 years or so. Very tough to walk away from that!!! But no one is promised tomorrow and I want to live before I die.

The state pension is paid every four weeks which tends to skew monthly budgets unless one is very disciplined.

Why are comments hidden on this channel ? My comments appear in new buit are hidden in top comments. Are you censoring comments that don't fit the narrative ?

I am going to retire on June 18th. Told myself at the age of 60. Rather live like a poor person than die a rich one!

the sad stories are what is pushing me to retire when I am eligible next year. I will have to work a little bit due to the cost of living, but my house will be paid off next month and I will be ready!!! I will work maybe one day a week, in order to do repairs and maintenance around the house, take some trips, things like that. My family life expectancy is mid 70s

good video bud

I do not understand people who can retire but do not. Now I know we are all different with different needs but some people never know when enough is enough. May do 30 years in one job then another 15 in another because they just can’t stop. If you can stop when you can and enjoy what you have of your life. We only get 1 chance and won’t be back to do it again.

I wouldn't personally worry about if the " state pension " is enough to live on..... As by the time your 70 years old itll be a means tested benefit or obsolete anyway. Ps the uk govt hate us ....💩

Since I started taking notice of politics, when I became a teenager in the late 70s. The Tories have been in power for about 33 years and labour in power for about 12 years. Kind of says all you need to know about the Labour party. And bearing in mind the time when they were in power "new Labour " Tony Blair was the prime minister for most of the time When they did have a genuine socialist PM in power with Gordon Brown. He ended up losing the election to David Cameron who many Tories didn't even want to be there leader.