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Edwina Currie live webchat 23 July, 7pm

(88 Posts)
GeraldineGransnet (GNHQ) Tue 09-Jul-13 18:08:05

Retirement should be a time for enjoying friends, family and hobbies, old and new.  But a bit of planning can help you make the most of it, so worries about money don’t get in the way and you can focus on having fun.

So what things should you consider before retirement? Have you thought about downsizing? What are the benefits? What about continuing to work part-time? What aspects of your future should you discuss with? your family?

We're delighted to welcome Edwina Currie for a live webchat on retirement planning. A writer, broadcaster and ex-minister for public health and women's health issues under Margaret Thatcher, Edwina, 66, today works part-time as a writer and broadcaster and has published 11 books.  She is also a member of the McCarthy & Stone Greater Life Advisory Board which challenges attitudes to ageing.

In 2011, she downsized and returned to her roots in Derbyshire, close to the area she represented as an MP. Edwina and her husband John have a combined family of four sons, two daughters, nine grandchildren and two great-grandsons. 

Join us on 23rd July at 7pm when Edwina will be answering your questions on planning for retirement.

This webchat is sponsored by McCarthy and Stone Money.

glammanana Wed 24-Jul-13 21:32:42

I don't know or want to know what you buy Frank but on average our "indexed linked basket" is roughly the same over the course of a month,with the odd trip to M&S for Dine Ins as that saves on the alcohol expenditure,and to be truthful we don't faction into our monthly or yearly budget a new car as that would be frivilous don't you think ? Yes I would like a new car every 3/4 yrs but truth be known I don't need one.

HUNTERF Wed 24-Jul-13 15:06:10

Bez

Index linking takes in to account a basket of goods you can buy and it tries to pay enough money so you can always buy that basket of goods.
The problem is every bodies consumption is different.
Cigarettes increasing in price would not affect me as I do not buy any but cars and dog food for example would.
Also goods do change because some become obsolete and new ones come in.

Frank

Bez Wed 24-Jul-13 13:50:40

Yes - but my point is that "new" pensioners start at a much higher rate than those who have been a pensioner for many years especially when related to final salary. The index linking I believe is a percentage linked to the rate at which you are paid.

HUNTERF Wed 24-Jul-13 12:31:57

Bez

If your pension is index linked it should go up with inflation.
At the moment the rises pensioners are getting are better than the people who are still working.

Frank

bluebell Wed 24-Jul-13 09:17:23

Frank - you are assuming 20% tax- she might mean after 40 or 45% tax!

Bez Wed 24-Jul-13 08:53:39

Imagine away Frank - then get real. I know plenty of people with occupational pensions less than that - when you have had a pension for a number of years it may go up but you do not keep pace with newly retired people - as you may discover in the future.

HUNTERF Wed 24-Jul-13 08:46:09

I find it difficult to believe that Edwina's ministerial pension only comes to £660 a month after tax.
I would imagine most occupational pensions come to more than £9,900 a year gross.

Frank

Galen Tue 23-Jul-13 20:06:37

I'm very disappointed that you seem to confuse ESA with DLA/PIP and did not answer my question?

EdwinaCurrie Tue 23-Jul-13 20:04:40

LaraGransnet

Thanks very much to Edwina for coming on tonight and answering all our questions!

Thanks, this was fun!! you can folow me on Twitter too - Edwina_Currie

LaraGransnet (GNHQ) Tue 23-Jul-13 20:03:46

Thanks very much to Edwina for coming on tonight and answering all our questions!

EdwinaCurrie Tue 23-Jul-13 19:56:33

minimo

Is there anything in your life you regret? And how do/did you come to terms with it?

Oh, loads. If you don't have regrets, you haven't dreamed, and you haven't lived. But I got most of what I aimed for, so I'm content

(typical politician's answer...!)

EdwinaCurrie Tue 23-Jul-13 19:55:29

neptune

What is the longest you've ever lived in one house? My daughter (and her beautiful family) and have asked me to go with them. I'm only a year away from retiring but have never lived anywhere else in my whole life. This is only the 3rd house I've called home. I can't imagine upping sticks... Like you said earlier what if they then move?

Imagine. It will happen sooner or later.. probably when you least want it. McC &S research showed 90% of their residents come in after a crisis, eg a bereavement or serious illness. Better to move, to choose your retirement place, before you HAVE to. best, disscuss with family, all of them, properly, seriously, think of the pros and cons, research it thoroughly.
We lived in Birmingham 10 years, Derbys 14, Surrey 10 years, and moved twice since 2011. I do not like moving house!

minimo Tue 23-Jul-13 19:54:17

Is there anything in your life you regret? And how do/did you come to terms with it?

EdwinaCurrie Tue 23-Jul-13 19:52:20

Sunhat

Michael Gove? Interesting. As the wife of a recently retired secondary school teacher, more or less everything I hear about him is negative - what do you admire?

He's pushing for higher standards for all children in the state school system, and I'm yelling, "About time!"
I went to a great school, the Liverpool Insititute High School for Girls (Paul and George of the Beatles went to the boys' school over the road). It doesn't exist any more. I don't like selection, as it tendede to ignore the needs of the other 80% of kids, but I had hoped the comprehensive system would give the best chances to every child. And it hasn't. Tony Blair started the academies - one good thing he did - and that's on the right track; I've been to Bede Academy in Northumberland, awesome. And free schools are exciting.
The teacher unions hate him because he's pushing their members for higher standards. But the public get what he's doing, I think

neptune Tue 23-Jul-13 19:50:53

What is the longest you've ever lived in one house? My daughter (and her beautiful family) and have asked me to go with them. I'm only a year away from retiring but have never lived anywhere else in my whole life. This is only the 3rd house I've called home. I can't imagine upping sticks... Like you said earlier what if they then move?

EdwinaCurrie Tue 23-Jul-13 19:47:52

coffeefortwo

Hello Edwina. What made you want to become the face of McCarthy and Stone?

Two years ago Mc&S put an ad in the paper asking for anyone interested in joining a small advisory group to apply. Over 700 people did and 6 were invited to become the Greater Life Advisory group. We meet regularly and toss around blue sky ideas, including tough criticism of some of their (then) approach - and to do them justice, they listen. It's about more than building nice retirement flats for owner occupiers; it's got to be about life planning, covering a much wider range of services, looking after older people rather better than perhaps in previous generations.

Galen Tue 23-Jul-13 19:46:11

I am disabled I still work. The assessments for ESA. Performed by ATOS have proved to be flawed! The same type of assessment is now going to be applied to PIP. PIP has nothing to do with ESA. It is help with mobility and care with personal bodily functions for disabled people!
A lot of people who currently have mobility cars which they use to get to work will lose them under PIP.

Sel Tue 23-Jul-13 19:45:42

You'd be a great addition to the forums here Edwina, ever considered it?

EdwinaCurrie Tue 23-Jul-13 19:43:22

highfive

Talking of childcare, do you ever help out and look after your grandchildren while your children work?

Not on a regular basis (but then I often take her dog...!).
My sister-in-law is the main carer for her grandchildren, but then she is very tied. Not sure that's a good thing, but it suits her. Every family has to find their own way of tacking this. I'd rather be a Gangsta granny and totally subversive with my grandchildren, taking them places their parents maybe wouldn't ...smile

EdwinaCurrie Tue 23-Jul-13 19:41:07

grapefruit

What did you do with all your things when you downsized?! I have mountains and mountains of things that I simply can't bear to part with. Seems strange and quite sad to graduate to slightly bigger and slightly better houses. And then go backwards. Or it least it feels like it.

Got rid of loads - rest still stacked in the garage!
Many arguments with hubby about this. But I pointed out that when we get really old, we'll be using only a couple of rooms anyway..!
We moved north 2011 and took a lease on a big house. Fine in summer. In winter, a NIGHTMARE. When the final gas bill came in, it was £1790 for the quarter - on top of monthly £250 payments. That settled it.
Things.. they matter so much? More than comfort? More than friends? More than family?
Choose your favourites, and let the rest go. If you have good stuff, send it to auction, and spend the proceeds on something really mad.

highfive Tue 23-Jul-13 19:37:50

Talking of childcare, do you ever help out and look after your grandchildren while your children work?

EdwinaCurrie Tue 23-Jul-13 19:37:00

feminista

What would you say is your most redeeming feature and made you a success? And what do you think holds woman back in the work place?

1. Being a Scouser - youleanr to be quick with the lip, and one of our local MPs was a woman, Bessie Braddock. Formidable.
2. Having gone to an old fashioned state grammar school (closed by Derek Hatton, grrr..)
3. Coming from an argumentative family, where my Dad treated me like any other dult, and would discuss news stories with me from an early age. By the age of 14 I was taking part in school debates about joining the Commons Market!
So it never occurred to me that anything would hold me back, provided I worked hard and tired my best.
What holds most women back is fear - of failure, of embarrassment, of criticism. You do need the hide of a rhinoceros in the political world, but perhaps less so elsewhere.

buzzbee Tue 23-Jul-13 19:34:33

How do you think childcare/workplaces could improve to ensure equality in the workplace?

grapefruit Tue 23-Jul-13 19:33:56

What did you do with all your things when you downsized?! I have mountains and mountains of things that I simply can't bear to part with. Seems strange and quite sad to graduate to slightly bigger and slightly better houses. And then go backwards. Or it least it feels like it.

olderpeoplesday Tue 23-Jul-13 19:33:04

Hi

1 October is Older People's Day- The aim is to celebrate to the contribution older people make to society. Last year it estimated over 1 million people took part in over 6,000 events across the UK. Can we count on your support and do you think it is becoming increasingly important that all organisations join forces to support each other to make a difference? Older People's Day would be very grateful if you could write a piece for the website www.olderpeoplesday.co.uk supporting our campaign along with your thoughts why these celebrations are so very important.

Many thanks