Hey all. Trying to break this down and see if I've made the best choices here.
I am in charge of my OHs money despite us not living together (as he is useless). He is 56, I am 42 . He works in a menial job and is happy earning £300 a week. I am going through serious health issues and am on a low income, possibly long term.
He owns a small property and has 22k outstanding on a £80k property that will be paid off in 9 years. I've really worked hard to manage his money so the mortgage will be paid as he is due to leave work for retirement. So now my attention has turned to his pension. It's pathetic. He currently has £2250 in his pot, projected to be £8000 ish with the people's pension. He has just increased his own contributions through payroll to 10% starting April. But I am really struggling to find a calculator that will give me a projection of what that will mean?
I don't have a pension either but I have recently started paying weekly money into a LISA. Around £2k a year including a voluntary contribution from my parents as they want me to buy my council house at some point. I figure the savings are more important for buying the house as I will get a large discount. I could potentially live with my partner in retirement and rent my property out. The goal is to be mortgage free by retirement. My property is currently valued at around £100k and with my discount it would be £46k . I live in a very cheap area but a recent building explosion is setting prices being pushed up very fast. ( and this is not about me buying a council property, or the ethics of that- is about where I am doing the right thing investing my £2k a year in a LISA to do that. )
Sorry if it's a bit hodgepodge, I'm really new to this sort of thing and just looking for advice/reassurance that I've dinner the right thing with his pension increase and me starting a LISA