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AIBU?

Share your dilemmas and get honest opinions from other Mumsnetters.

Original poster

To wonder if I’m completely fucked for retirement?

57 replies

thisishoiedoit · 09/12/2025 22:42

So I would appreciate realistic opinions from all walks of life…

Am 47, recently divorced. Never really planned properly for retirement, many years as SAHM.

My financial situation currently is:
mortgaged house (with 300k equity)
defined benefit pension worth estimated 800 per month (upon retirement)
state pension record up to date
13k in private pension that I pay circa 500 per month into via my self employed income
workplace pension of of of around 200 per month contributions (part time job due to aforementioned self employment also)

Have I completely fucked my retirement? Would I be better off sacrificing the employed job with crappy pension in place of higher remunerated (but equally much more unstable) self employment?

OP posts:
dotdotdotdash · 09/12/2025 23:10

You’ll be fine. The best thing is to have no rent or mortgage, you have a decent db pension and 20 yrs more contributions to your private pension.

Kpo58 · 09/12/2025 23:01

I think that you will be fine at retirement.

The defined benefit pension should go up with inflation. You won't be paying the costs for a mortgage, so that's a large chunk of money you won't need to find.

You won't be rich, but you should be fine as long as you don't suddenly want to live the high life and holiday monthly.

Original poster
thisishoiedoit · 09/12/2025 22:56

Kpo58 · 09/12/2025 22:54

How much is left on the mortgage and will you get a tax free lump sum from your defined benefit pension that could pay off the mortgage?

There is a lump sum whatever I do but if I take the smaller lump sum I get the higher pension forecast. Current mortgage is for 19 years so would be gone when I retire.

OP posts:
Original poster
thisishoiedoit · 09/12/2025 22:55

60% equity in the house, but mortgage will be paid off when I retire.
Only started at that job this year so nothing very much in the workplace pension as yet
I don’t do foreign holidays, fancy cars or ‘things’ now so wouldn’t want that in retirement
I earn 3 x as much in my self employed role but it isn’t consistent/ no sick pay/ no holiday pay etc

OP posts:
Kpo58 · 09/12/2025 22:54

How much is left on the mortgage and will you get a tax free lump sum from your defined benefit pension that could pay off the mortgage?

Higglea · 09/12/2025 22:52

Even without growth, you’re looking at state pension plus £1k per month at 68. That’s better than many, but you’re adding 700 contributions every month for 20 more years

user927464 · 09/12/2025 22:49

Cant really say from that. How much equity is in the house? How big is it (can you downsize on retirement). When do you want to retire? How much is in the workplace pension. What sort of standard of living do you want when you retire? How much do you earn in your part time job and how much more could you realistically earn if you spent those hours in your self employed role?