The Retirement Thread

[Moodyman]

Retirees...can I ask a question?

It was reported this week that the average person needs to put away £800 per month for their retirement planning to achieve the quality of retirement they expect.

Not interested in specifics, but generally, does your retirement reflect your expectation from say, when you were in your 40s and early 50s. Have you had to make cut backs or are you living better than when you were working?

 

[welsh dragon]

Retirees...can I ask a question?

It was reported this week that the average person needs to put away £800 per month for their retirement planning to achieve the quality of retirement they expect.

Not interested in specifics, but generally, does your retirement reflect your expectation from say, when you were in your 40s and early 50s. Have you had to make cut backs or are you living better than when you were working?

I think you just tend to accept what you have and live within your means. You don't need as much money when your retired. It is surprising how much it costs to go to work.

I have a very small private pension and I have to wait for over 2 years before I retire officially and get my state pension. Even then I won't get the full amount as I took time off to have kids etc. However I will no doubt manage on whatever I get. If I have to cut down on certain things then I will.

 

[roadrash]

No new bloomers during your retirement then....

 

[Dave7]

No new bloomers during your retirement then....

Me and Welshie go bloomer shopping twice a year. If I am feeling particularly flush we go to the Oxfam shop in Holyhead as they often have some that aren't too worn.

 

[roadrash]

Ah yes, I know the shop you mean...
.

 

[Dave7]

@Moodyman I imagine there are different situations for most of us old farts. As welshie hinted at.....you cut you cloth etc.
For a number of reasons I did not plan well and had a private pension paying only £3k per year. I was (i use the word) fortunate in that, towards the end, I took a chance with starting my own company. I was one of the few that succeeded so I retired early with a lump sum.
State pension is IMO quite good..... we get best part of £300 per week.....£15K a year tax free.
The kick up the ar*e is when you get older. A life on the dole, p*ssing it up the wall and you get free care. Look after your money, dare to own your house......those barstewards will do everything to take it all off you.

 

[Dave7]

Ah yes, I know the shop you mean...
. View attachment 491444

Thats the one.
Last time we were there @dickyknees was in there buying used y fronts. They hadn't been washed btw.

 

[welsh dragon]

No new bloomers during your retirement then....

Ah yes, I know the shop you mean...
. View attachment 491444

I will just have to make do and mend. Those bloomers look tickety boo. I would look proper posh in those. Might have to let them out a bit mind you.

 

[welsh dragon]

Me and Welshie go bloomer shopping twice a year. If I am feeling particularly flush we go to the Oxfam shop in Holyhead as they often have some that aren't too worn.

I do look forward to those 2 days Dave. The bigger the better for you as they say.🌹

 

[welsh dragon]

Thats the one.
Last time we were there @dickyknees was in there buying used y fronts. They hadn't been washed btw.

Is he a friend of drago's by any chance? Or does he buy Drago's cast offs?

 

[Dave7]

I do look forward to those 2 days Dave. The bigger the better for you as they say.🌹

You have a lovely turn of phrase....it makes my heart flutter.
I like the one you just used "the bigger the better"......it gives me palpitations

 

[welsh dragon]

You have a lovely turn of phrase....it makes my heart flutter.
I like the one you just used "the bigger the better"......it gives me palpitations

saucy beast you.

 

[Deleted member 1258]

@Moodyman I imagine there are different situations for most of us old farts. As welshie hinted at.....you cut you cloth etc.
For a number of reasons I did not plan well and had a private pension paying only £3k per year. I was (i use the word) fortunate in that, towards the end, I took a chance with starting my own company. I was one of the few that succeeded so I retired early with a lump sum.
State pension is IMO quite good..... we get best part of £300 per week.....£15K a year tax free.
The kick up the ar*e is when you get older. A life on the dole, p*ssing it up the wall and you get free care. Look after your money, dare to own your house......those barstewards will do everything to take it all off you.

I get a state pension, plus a small private pension, and its topped up by pension credit, in total I get £800 a month, and I spend more now I'm retired than I did when I was working

 

[classic33]

In three Counties, at the same moment in time, earlier today.

Never saw any snakes.

 

[gavroche]

Having your mortgage paid off and owning your own house is worth a few hundred pounds a month. For that reason, I can live comfortably on a thousand pound a month . My wife also has her own state pension too. If you know-how to budget your income, you don't need lots of money. I also work three days a week during school terms but that's my own choice, I don't rely on it to survive, I do it because retirement can be boring.