A few weeks ago I had to make a decision about whether I moved some future pension benefits, which I have accrued through my employment to date, into an alternative scheme which had the potential to give me a higher income at my retirement.
To be honest, I dithered and procrastinated and I ended up having to make a snap decision within the deadline set without having taken the recommended financial advice.
Having read the papers one Saturday afternoon, I made up my mind what I was going to do.
I walked into the kitchen to explain this to my wife (who was even less interested!) and I resolved on my choice with her full support.
Basically, it narrowed down to one issue – “Jam Tomorrow” – let me explain:-
If I had chosen to move my pension rights I immediately gave up my right to contribute to my existing scheme.
I also would give up my right to access my pension at the age of 60 in return for potentially higher returns at the age of 65.
I had to assume that I would be working for my current employer for the next 15 years or so and;
I had to assume that I was not going to die before the age of 65.
In the end the decision was easy, I chose to live for today.
I chose to live in the present and value what I have in this moment and applying this principle in terms of my pension was made easier by having chosen to stay within my marriage, despite my sexual orientation, for the love I experience each day, rather than ending my marriage for the uncertainty of “Jam Tomorrow”
My next blog will be: “Regina Coeli”
This is my 100th post and I feel very proud of being able to articulate my journey of self-discovery in this way through my blog and I am grateful to my readers and followers for their support.