Sad that she's losing her sight but she is knocking in to door of 90 and things do start to pack up when we all get older.
As for the money side, I don't believe a word of it. Anyone on her salary and who has been earning really decent money for 25+ years shouldn't need a pension, on that sort of money a year she should have saved.
I'm sure she's looked after her family over the years and I'm sure they'll look after her of needs must.
Sad that she's losing her sight but she is knocking in to door of 90 and things do start to pack up when we all get older.
As for the money side, I don't believe a word of it. Anyone on her salary and who has been earning really decent money for 25+ years shouldn't need a pension, on that sort of money a year she should have saved.
I'm sure she's looked after her family over the years and I'm sure they'll look after her of needs must.
I guess its down to the standards of living she's used to. She probably has high living standards & doesn't want to sacrifice that rather than facing poverty. She's probably over egging the pudding to be honest.
Not the wisest thing for June to say. On an alleged salary of £370k she only has herself to blame if she hasn't saved enough to keep her comfortable in retirement. Even if it's half that she is earning way more than most people in London.
Having said that, I don't really trust any quotes I read in the media these days. She could well have been making light of her situation and it's been written up with a particular slant.
Not the wisest thing for June to say. On an alleged salary of £370k she only has herself to blame if she hasn't saved enough to keep her comfortable in retirement. Even if it's half that she is earning way more than most people in London.
Having said that, I don't really trust any quotes I read in the media these days. She could well have been making light of her situation and it's been written up with a particular slant.
I agree also I think this could be fear not fact, she has been on hard times before in her life so is scared of it happening again she probably has enough to see her out but her fear stops her retiring.
Sadly many elderly fear having no income, they were brought up when times were hard and money was sparce so the fear of going back to that time will be very distressing however if I was June's family I would be demanding she retired and spent time with her loved ones x June wont be as hard up as she is making our to be and I find it questionable about her not being afford to retire x
Sad news about June's eyes, she is such a delightful character.
As someone above said, June probably does have a fear of not having enough money and being vulnerable, especially with her eye disease. I also think she really likes working, even if it gets a bit much sometimes, it keeps her interested and she is good at it.
I don't like to assume things but I know she has five children, maybe they (like a lot of children of well-known people) don't pull their weight and she has to support them and potentially their children also? I find it hard to believe she cannot support just herself on her alleged salary.
I'm sure I watched a documentary a few years back and she was employing two of her daughters full time to assist her.
I think June is one of those people who would really miss working if she retired.
Not wanting to live on a pittance is perfectly understandable. As for her savings we have no idea how much she may have or for whatever reason. But what if she retires tomorrow and lives for another 10 years. She probably wants to be able to afford good healthcare if she falls ill or needs to go into a care home, that adds up and maybe she doesn't want to burden her family with those costs. She may want to leave money to her grandchildren. The cost of living in London isn't cheap. How much would she want to live on to sustain her way of life? 20k a year for bills, food, travel etc? Less? More? It all adds up.
"any decent financial advisor would recommend at least 10% into the pension"
Decent financial advice is to put a percentage of your salary aside for your pension equivalent to half your age. So for her, almost half.
But I can't imagine she's had decent financial advice if her pension has halved in value due to the financial crash. Any decent adviser would have moved her money into safe assets years ago, if not DECADES ago. Once you get to your late 50s you should be moving your money out of risky equities and into safer areas. Certainly by the time she was about 80 it should all have been in very safe areas.
Another point, I don't get it when people say "Sure she earns £300k a year, but she'd have to pay tax on that". So does everyone else! Yes she's in the higher tax bracket, but it's not like a person on £30k a year gets to keep all of it. Bottom line is she should still be VERY well off after almost three decades years working on Eastenders.
"any decent financial advisor would recommend at least 10% into the pension"
Decent financial advice is to put a percentage of your salary aside for your pension equivalent to half your age. So for her, almost half.
But I can't imagine she's had decent financial advice if her pension has halved in value due to the financial crash. Any decent adviser would have moved her money into safe assets years ago, if not DECADES ago. Once you get to your late 50s you should be moving your money out of risky equities and into safer areas. Certainly by the time she was about 80 it should all have been in very safe areas.
Another point, I don't get it when people say "Sure she earns £300k a year, but she'd have to pay tax on that". So does everyone else! Yes she's in the higher tax bracket, but it's not like a person on £30k a year gets to keep all of it. Bottom line is she should still be VERY well off after almost three decades years working on Eastenders.
yes but she only started earning huge amounts of money when she got to EE and that was 2yrs off her retirement age, she has 5/6 children so up to that point I dont imagine she could have saved much. plus she says she lost a lot of her pension but we dont know how it was made up savings or an actual pension.
I am not junes age so 10% works for me.
but we are all speculating. I dont know what all the fuss is about london pay, I just turned down applying for one with a 50k starting salary but paying more tax, higher mortgage costs and travel makes it not worth it
Comments
As for the money side, I don't believe a word of it. Anyone on her salary and who has been earning really decent money for 25+ years shouldn't need a pension, on that sort of money a year she should have saved.
I'm sure she's looked after her family over the years and I'm sure they'll look after her of needs must.
after tax! 45% tax rate thats nearly half your salary gone before agent fees!
Having said that, I don't really trust any quotes I read in the media these days. She could well have been making light of her situation and it's been written up with a particular slant.
I agree also I think this could be fear not fact, she has been on hard times before in her life so is scared of it happening again she probably has enough to see her out but her fear stops her retiring.
As someone above said, June probably does have a fear of not having enough money and being vulnerable, especially with her eye disease. I also think she really likes working, even if it gets a bit much sometimes, it keeps her interested and she is good at it.
I'm sure I watched a documentary a few years back and she was employing two of her daughters full time to assist her.
I think June is one of those people who would really miss working if she retired.
Decent financial advice is to put a percentage of your salary aside for your pension equivalent to half your age. So for her, almost half.
But I can't imagine she's had decent financial advice if her pension has halved in value due to the financial crash. Any decent adviser would have moved her money into safe assets years ago, if not DECADES ago. Once you get to your late 50s you should be moving your money out of risky equities and into safer areas. Certainly by the time she was about 80 it should all have been in very safe areas.
Another point, I don't get it when people say "Sure she earns £300k a year, but she'd have to pay tax on that". So does everyone else! Yes she's in the higher tax bracket, but it's not like a person on £30k a year gets to keep all of it. Bottom line is she should still be VERY well off after almost three decades years working on Eastenders.
Nobody loses half their wage in income tax.
yes but she only started earning huge amounts of money when she got to EE and that was 2yrs off her retirement age, she has 5/6 children so up to that point I dont imagine she could have saved much. plus she says she lost a lot of her pension but we dont know how it was made up savings or an actual pension.
I am not junes age so 10% works for me.
but we are all speculating. I dont know what all the fuss is about london pay, I just turned down applying for one with a 50k starting salary but paying more tax, higher mortgage costs and travel makes it not worth it
course they do unless u do a silly tax scheme which the tax man is intent on clamping down on