I am nearly 68.
I intended ceasing work at 62-65. Unfortunately the stock market drops over the last few years and our beloved leader's raid on the pension funds (£5000 000 000 per year since 1997) have somewhat dented my plans.
I still work 3-4 days per week to enable us to live reasonably well. We have 4 flats bought at the last property crash and provide an income for running the house and car. I also have a pension that was promised to pay out twice what it does.
In my view property would be the option but only if bought for a large cash deposit or no mortgage at all. The rent will keep up with the inflation that is coming, my pensions won't.
So, stick as much as you can into isas and look for cheap flats with low service charges. We bought wrecks and did them up. Hard work but it has paid off. Two of the flats we paid 16-17000 for and have doubl in value for 1500 expenditure.
Looking in the paper on Sunday it had a list of the charges made on pension funds of 30+% over 25 years.
I have told my daughter that the best option for her and her family is to look abroad for her future.
Sorry to be pessimistic but I've seen it all before.
Trevor
