DJ Annie Nightingale, 83, owns her own flat but has no pension

DJ Annie Nightingale was the first female presenter on BBC Radio One in 1970 and is the longest serving presenter. At 83, she has no plans to retire, no retirement, and says every week in her job is “a new adventure.”

She tells Donna Ferguson that when interest rates skyrocketed in the early 1990s, she had to sell her five-storey Victorian townhouse in Brighton because the mortgage became unaffordable.

Now living mortgage-free in a two-bedroom apartment in west London, she says the 1998 purchase was the best financial decision she ever made.

What did your parents teach you about money?

My father always said money was the root of all evil. His father was a successful businessman who founded his own wallpaper company. My father had to take over the family business. And he really wasn’t a good businessman; he was too kind and gentle for the hard business world.

I had a stay-at-home mum and grew up in Twickenham, South West London, where the neighbors judged you by what kind of car you drive and whether you had a TV. I hated it so much.

I saw the misery that consumerism brought to people and I rebelled against it. It wasn’t that I saw money as a bad thing; I knew I needed it. But money did not motivate me. I wanted adventures and an exciting life. I wanted to be a journalist, like Gregory Peck in the movie Roman Holiday.

Have you ever had trouble making ends meet?

Yes, several times. The worst time was when interest rates rose to 15 percent in the early 1990s. It was ridiculous.

I lived in a big five-story Victorian house in Brighton, throwing great parties. I already worked on Radio 1 – I’m the longest-serving broadcaster there – and I did a TV program every week and I wrote a column for a national newspaper. I worked very hard, but I couldn’t afford to keep paying the mortgage. It was crazy.

So I had to walk away from the property. I can’t even remember now whether or not I had negative net worth, it was such a horrible time.

But when the economy is bad, you learn to deal with it. I have returned my keys [to the mortgage lender]and started renting for a while.

What’s the best cash benefit you’ve ever had?

I used to do a show for Virgin Atlantic that you could only hear on flights. They don’t do it anymore, but you get on the plane, plug in the headphones and get a recorded music program from me. The fee was peanuts, but they also paid me in free tickets to anywhere in the world I wanted to go. I usually went to Los Angeles. I didn’t go around the world – I didn’t have time!

Annie Nightingale at work in 1970

What has been your biggest money mistake?

My mistake is probably that I don’t care enough about money. Don’t invest in something for the long term when you’re younger. On the other hand, if I had invested in the stock market or real estate, things would have gone horribly wrong. I used to say, when I’m old, I have to live off my mind. Well, that’s what I do and I’m incredibly thankful that I can still do what I do. I hate the “R” word: retire. I don’t want to watch TV during the day.

So when are you going to retire?

That’s not up to me. That’s up to the BBC. But as long as I feel like I’m doing the job right and they have me, I hope I keep going. Every week, in my work, is a new adventure. I enjoy it. People don’t understand. Most people get bored with pop music when they reach a certain age. I remain interested in where it goes, the twists.

The best money decision you’ve made?

I am buying the two bedroom apartment I live in, in West London. It’s sad in a way. My father left me his house when he died. I sold it and that allowed me to buy my house in 1998 without a mortgage for less than £200,000. I’d rather not say how much it’s worth now.

Are you saving for a pension?

No and I never thought I had enough money to do that. When you’re freelance and self-employed, which I’ve been all my life, you live day to day, week to week. Plus, retirement always seemed like such a depressing idea. It’s really irresponsible. As a result I have no BBC pension. I receive the full state pension and some royalties from my books.

Do you invest directly on the stock market?

I wouldn’t know what I was doing, but I have some savings in stocks and shares Isa that a financial advisor invests on my behalf.

I talk to them once a year, expecting to have made a lot of profit and I haven’t.

If you were Chancellor, what would you do first?

I would fund safe havens for women and children fleeing domestic violence. I would make sure there were enough for anyone who needs one.

What is your first financial priority?

Keeping my head above water, paying my bills and getting on with what I do.

Hey Hi Hello: Five decades of pop culture from Britain’s first female DJ by Annie Nightingale is out now.