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September 13, 2016

Aiming for a retirement fund

At present I save nothing for my retirement other than my NHS pension. I have been looking at ways to improve me income in retirement. An income of £2000 a month would be £24000 a year!!!

I am going to start investing in shares and funds through my S&S ISA, pay into a Lifetime ISA (when they become available next year) and I have been thinking of improving my NHS pension.  There are different ways of doing this:

  • Additional Pension
  • Early Retirement Reduction Buy Out (ERRBO)
  • Money Purchase Benefits
  • Stakeholder Pensions
  • Bigger Lump Sum Purchase
  • Half Cost Added Years

I am thinking of going down the Money Purchase AVC route and taking out an additional pension through Prudental. I would be able to take 25% as a lump sum, the rest needs to be used to buy an extra pension. I shall send off for more information and take it from there. I have yet to see if I will stay within the NHS for the rest of my career but at this point it is most likely.

With just £50 a month I would get a lump sum of £9790 and an annual income of £1520. Not a great amount but with my main NHS pensions I’d be looking at around £10k annual income 🙂

I am also playing around with the Additional Pension calculator to see if that route is best.

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After 3 years of using and hating a chromebook, I After 3 years of using and hating a chromebook, I have finally gotten myself a new laptop. Welcome back 'home' & 'caps lock' oh how I've missed you guys.

I appreciate uni giving us a chromebook for our studies but I've had issues throughout and really don't like them. It did save me having to buy a new laptop for 3 years though đŸ˜€

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#universityclassification #universityofportsmouth
After only 2 months qualified I have received and After only 2 months qualified I have received and accepted a new RN role. I'm leaving the NHS for a night role in a nursing home.  I haven't enjoyed my time since qualifying & I realise I'm not a ward nurse especially surgical (though I can see myself in theatres). The original role I accepted and I would have enjoyed has been closed since this time last yr and I can't see it opening this year.
So many people I hear get their 'dream' role on qualifying, I'm not one of them & I'm not one to be happy just anywhere.  I want to be an oncology specialist or on the clinical research team. There are no jobs for these role so onto post grad study ASAP and see where it goes.

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After 3 years of using and hating a chromebook, I After 3 years of using and hating a chromebook, I have finally gotten myself a new laptop. Welcome back 'home' & 'caps lock' oh how I've missed you guys.

I appreciate uni giving us a chromebook for our studies but I've had issues throughout and really don't like them. It did save me having to buy a new laptop for 3 years though đŸ˜€

#newlaptop #acerswift5
Look what's just arrived wasn't expecting it. #un Look what's just arrived wasn't expecting it.

#universityclassification #universityofportsmouth
After only 2 months qualified I have received and After only 2 months qualified I have received and accepted a new RN role. I'm leaving the NHS for a night role in a nursing home.  I haven't enjoyed my time since qualifying & I realise I'm not a ward nurse especially surgical (though I can see myself in theatres). The original role I accepted and I would have enjoyed has been closed since this time last yr and I can't see it opening this year.
So many people I hear get their 'dream' role on qualifying, I'm not one of them & I'm not one to be happy just anywhere.  I want to be an oncology specialist or on the clinical research team. There are no jobs for these role so onto post grad study ASAP and see where it goes.

#registerednurse #nusinghomenurse #newlyqualifiednurse #oncologynurse #clinicalresearch 
#newrnjob 
#newnurserole
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