When discussing what she would have done differently as her younger self when preparing for retirement, Jennifer said it would be starting “sooner”. “In my day, your employer didn’t have workplace pensions, not many of them did,” she said.
“Then make sure you’ve got enough money to afford that.”
Jennifer and her husband took control of their money and decided what they wanted to do with their pensions and worked out how to afford the life they wanted.
This is important to ensure people get the quality of life they desire.
Jennifer continued: “We looked at what finances we had because they said they would give us access to our pension as it stood at that time.
“So, we looked at that and sold the house, and looked at how much a boat would cost to have and run. We thought yeah that will work.
“We had our military pensions too so that worked well.
“If someone had told me in my 20s and 30s make sure you’ve got a pension for when you retire, I would have laughed and said that’s years away.
“It probably is for most people, but I’m really pleased that were not having to chase the pension anymore.”
Jennifer told Angellica she wasn’t always good with her finances.
“We were almost living hand to mouth in the old days when we had young kids.
“Then when my husband was diagnosed with cancer, he was out of work for a few years so it was a struggle, but we scrapped through that.
“We don’t want to go back to that.
“People survive just off a state pension with just £50 a week– but we didn’t want to do that.
“So, when we moved on the boat, we said we would always keep enough money for a major repair.”
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