A question about : Where to start?
I know, I know, I'm 53 and all this seems a bit late. And tbh, a bit overwhelming!
Anyway, following a few life events (2 divorces, 4 children as a single parent, a breakdown, bankruptcy and last, but not least cancer) I am in a seriously perilous position regarding retirement.
On the plus side I have a council tenancy so secure in that way. I also have 2 very small pensions from working over the years (mostly pt) which will give a small lump sum of 6000 (stop laughing 
). I have a full contribution record for state pension through a mixture of work and stamps paid whilst raising children.
My partner will also receive a lump sum of 14000 and a final salary pension of 100pw from 60 (he's 56). We are marrying next year.
I've been self employed since 2004 and never paid anything towards a private pension or health insurance. The idiocy of this hit home when I was diagnosed with cancer 2 years ago and was left reliant on ESA. For health reasons I cannot return to that work and am retraining. I cannot see me ever working for someone else. Not just because I'm not an attractive proposition for an employer!
So, where to start? My state pension age has moved from 60 to 67. Good in a way because I have a few years to save (but yes, I know this should have been done sooner).
Is it worth starting another pension? What about just saving as much as possible so we have money to live on? Not very effective I would think. What about buying my council place? Not something I want to do but the thought of getting caught up in UC etc when I'm a pensioner terrifies me 
Partner works pt (his work in advice was cut) and is studying for a Phd. I will be working pt self employed. I get ESA contributions based at the moment but will give this up in April.
What do I prioritise? Thank you for any pointers you can give
VB x
Best answers:
- First of all, fourteen years out, you are not in a perilous position with regard to your pension as there is no point in worrying about something that far away, no one is laughing at your Ј6k pension pot and no one will take you to task because you should have started your retirement planning earlier.
You have given no indication about when you and your partner want to retire and how much money you will want/need to enjoy your retirement.
You also state you would like to buy your council house but give no indication of how much it would cost, what discount you would be entitled to and how you would fund the mortgage.
You have given no indication about how much you will earn this or in future years. Will your partner's PhD lead to more lucrative work?
Furnishing some of this information will make it easier to help. - Sorry forgot to say
OH salary now 11000 plus SE income 3000
My ESA now 55000 plus a few hours SE 1000
Less tax etc.
I'm aiming for an income of 10000 and think that's realistic after the first year. OH will lose his main income in Sept
VB x - Thanks, very useful link I'll start there
VB x - your ESA is 55K? Or 5500?
anyway, yes you should probably have or start a pension. but cancer if in remission doesn't mean you are not employable so do consider being an employee as employers pay into your pension alongside you and any extra you can get would be so much the better.
It doesn't sound as if you will be able to buy unless and until your OH gains a teaching position after PHD. In the meantime, do either of you have any savings towards a mtg? I assume you wont meed much of a deposit as you get a 72K discount so assuming you'd be looking at at mtg fro 100K on a property worth 172K?
Where is your 6K old pension? How has it been performing for the last 5 years?
You can open a new pension online somewhere like cavendish online or HL and invest in a range of trackers or perhaps better for you a lifestyle fund that mixes equities and other assets like bonds. Something like the Vanguard series.
And yes, getting married is wise, as his FS spousal pension would go to waste.
Good luck going forwards, it sounds as if you are due some.
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