Who is going to support you in your old age ?

[mozhe]

...in other words..what pension plans have you made ?

Nothing at all to support us. My aprents don't have a house to leave, MIL has disinherited DH, FIL will leave half (he is remarrying) to us, but his DF is DH's age, so in relaity we shall not see it- which is OK, the love is there.

No pensions atm; rent takes up all our money and I'm a student. No mortgage- we lost our house when DH was ill and couldn't work.

We will have a mortgage and pension one day, the pension will be sorted when I go back to work (about 2 years). The mortgage will be when we have saved enough fro a deposit- income will be back at feasible level thenn.

Am I panicking ? No. Because Dad saved every penny they hsd in pension funds that collapsed and now they're on IS anyway. We'll do waht I can, but we have zero faith in these things any more.

Small work pension from previous employers (before children). Shove as much as possible of DH's pay into DH's scheme/AVCs as he pays higher rate tax so is more tax efficient. Put my own pay into my ISA (no company scheme where I work).
Don't expect to downsize house as far as price goes but will move to more bijou property (instead of standard 4 bed family house on estate) when DSs finally leave.
May inherit a little from my parents, but not expecting much when nursing home places are around £25k per year.

Oha nd I will ikley ahve 2 dependant adult children, though 1 may well hold down something workwise Ic ant see him being totally independent- and will hopefulyl have 1 non-dependant child (ds2). In terms of ds1 and ds3, a lot of financial advisors seem to think you're better off leaving nothing than just enough to stop their disability benefits, iyswim. And there's no way we'll leave loads.

I have a final salary teacher's pension. DH has over pension policies which he pays into. We speak with our IFAs regularly to make sure we are on the right track to having enough money to retire on. Fortunately as of next year DH will be in a very secure financial position to pay even more into it. He will also have a several £'000s equity share of the firm he will be partner of, which will form part of our pension plan. And our home will be part of it too, as we plan to downsize when we retire.

I will set up an old people's commune. We will knit, cycle and grow vegetables, and play scrabble wearing lots of woolly jumpers to save on heating.

I do have a pension, officially a "good" public sector one. But I don't really expect it to be very valuable by the time I retire.

Currently dh hopes to carry on working into late 60s, though we wait and see how realistic that is. I have a reasonable pension scheme, and we put a fair bit into dh's pension as well (20% of salary). But we put in quite a lot as lump sums in the years prior to children so we can afford a dip in my pension contribs for now. I think that the crunch will come if we have to pay for the dcs secondary school, but I suspect that I will be back working ft by that stage.

I think that in retirement less income is needed unless you have retired early or whilst you have smaller children (one chap at school has retired at 50 - he has a SAHM and a 6yo!). But for me the idea of early retirement is to travel more which isnt cheap (or at least not the way I do it).

Can I join, fennel?

I seriously dont make plans. In this day, how can you? Live for today and all that. I do know I wouldnt invest in any pension at all at this point and I am 35, because in 99% of cases - the money probably just wont be there when the time comes - either that or it wont add up to what you thought it would. I'm all about the here and now!!

I think you can buy in years with the teachers pension scheme.

Here, here, binkle! The present is tough enough as it is to be worrying about the future.

I'll be happy if I can keep paying boardband to surf oldbatsnet

well i already get my pension. i have 3 kids who are and will always be dependant, i have a seriously ill DH we have money invested, i try not to look at the future.

have a pension
dh has enormous pensona nd life insurance

dh has a decent pension, mine is crapola

Mozhe to answer the question why some people feel hostile to this question, it's not the question I feel hostile to, it's what I suspect is the intention behind it. (IE to denigrate SAHMs)

I'm afraid you've got form. So I don't believe that this is just a straightforward question with no SAHM-bashing agenda behind it.

However if I'm wrong and am judging you on your track record unjustly, then I apologise.

"How will all you SAHMs support yourselves in old age ?"

Mozhe, 25 June

VSS - in response to your post below.

Mozhe ? Are you my mother ?

I don't do all that mainly because no one would insure me.I hate all that how much would you need to save a month to have the same income as now bollocks When you are old and doddery and can only eat pureed food through a straw you don't need as much money Spend it now and let your kids sort it

i have a pension with work, i will have a house with no mortgage. but an online death calculator at bored . com said i would only live to 69, so the probability of me actually needing a lot of money for twenty or so years is slim.

god custy if you only last that long I'm buggered!

Neither I nor dh hve pensions, don't plan far enough ahead to have one and to be honest so long as I have enough to feed myself, have heat and enough for the odd little nip of whiskey I'll be fine.

Apaprently i will live until I am 93- and nothing Is ave from now will keep me that long tbh

Would it be a bad thing to work until you are 93 ? I wouldn't mind.....providing am fit enough.

Do you think they'd want a 93 year old teacher though? With teenagers? I wouldn't think so.

would like to work as long as possible ina reduced capacity- tutoring for GCSE etc.

Actually we would like to run a campsite into retirement, so that would work for us. And dh will have his business up and running by then (most poele in his industry seem to die of heart problems due to the stress after 50 so he wants out) and again that could be downscaled to suit.

i don't think my 76 year old dad would like to go back to work (anyway he is too busy babysitting for us)