Pension stuff, how's it all looking ? HAve you prepared ?

[Horse]

our monthly bills would be ~£1700pcm. I'm clearly the last of the big spenders

To be fair, though, most of that goes on thread lock for the Trumpet

[Mr. Dazzle]

When I retire I won't be able to steal if from work any more.

I didn't think of that!

[Le_Fromage_Grande]

We spend about £2500 a month, which conveniently is what we'll have coming in from the state pension and my work pension.

[Mr. Dazzle]

My latest projection indicates between £2300pcm and £4700pcm income when I retire, not including Mrs. D.

I think I might leave it a few more years before making any decisions

[Count Steer]

Seems the key to happy retirement is to live in a house whcih actually has windows and roof insulation. £500pcm on utilities!

To some on here it seems it's to live with as little as possible

I'm a simple boy, but £14 on TV package and no broadband... well that's crazy talk.

To be fair, the question was how much do you need to be 'comfy' so it's mainly been aimed at how little do I need? In reality the answer to the question 'how much do I need to retire on?' is 'as much as possible'

[Yorick]

Since we retired, our expenditure each year has been about £25k.
Biggest cost is the private health care about £3,000 a year.
We get about £10k income from apartment and draw the rest from savings.
Spent about £50k doing the villa up, but we're seeing the pension pots rise nicely each year.

I get state pension in 2 years so dragging about £15k out of my personal pensions tax free each year while I can. Adding that to our ISAs.

[weeksy]

Since we retired, our expenditure each year has been about £25k.
Biggest cost is the private health care about £3,000 a year.
We get about £10k income from apartment and draw the rest from savings.
Spent about £50k doing the villa up, but we're seeing the pension pots rise nicely each year.

I get state pension in 2 years so dragging about £15k out of my personal pensions tax free each year while I can. Adding that to our ISAs.

Without getting too deep here, it sounds like you're going to have lots of money 'left' .... what's the logic behind that ?

I'm kinda hoping by the time i drop dead, my lad is all sorted with a house, life and job and leaving £3.24 to him will be perfect for me. Mrs Weeksy is of the logic of "you'll need that money for when you're in a care home"
my thoughts are "if i'm in a care home and shitting the bed, i'm way beyond giving a fuck whether they take 10 mins or 20 mins to wipe my arse"

[Mr. Dazzle]

"if i'm in a care home and shitting the bed, i'm way beyond giving a fuck whether they take 10 mins or 20 mins to wipe my arse"

You could be in a care home because your body is shot but your mind is still 100% though. So staring at the wall 14 hours a day might be a bit rubbish.

Being able to have carers come to your house, or having a nice care home would be good in that situation right?

[Yorick]

Since we retired, our expenditure each year has been about £25k.
Biggest cost is the private health care about £3,000 a year.
We get about £10k income from apartment and draw the rest from savings.
Spent about £50k doing the villa up, but we're seeing the pension pots rise nicely each year.

I get state pension in 2 years so dragging about £15k out of my personal pensions tax free each year while I can. Adding that to our ISAs.

Without getting too deep here, it sounds like you're going to have lots of money 'left' .... what's the logic behind that ?

That's why I want to buy a SM bike.
Also we just worked out that from now on, we have £10k a year for 'treats'.
Mrs Y is going to India next week for a 2 weeks yoga retreat.

[Potter]

Seems the key to happy retirement is to live in a house whcih actually has windows and roof insulation. £500pcm on utilities!

Unfortunately they didn’t consider electricity and gas prices when they built houses in the 1600’s

I forgot wood costs, in the depths of the cold we had the fires lit 24/7 so that was £200 in wood as well.

[Yorick]

Some have seen our apartment and it is stunning.
When we're older we're gonna get a carer in and offset part of the salary with the rent.
We also have 2 bedrooms on ground floor so we can move down here to save climbing stairs.

[Potter]

Without getting too deep here, it sounds like you're going to have lots of money 'left' .... what's the logic behind that ?

I'm kinda hoping by the time i drop dead, my lad is all sorted with a house, life and job and leaving £3.24 to him will be perfect for me. Mrs Weeksy is of the logic of "you'll need that money for when you're in a care home"
my thoughts are "if i'm in a care home and shitting the bed, i'm way beyond giving a fuck whether they take 10 mins or 20 mins to wipe my arse"

I’m the opposite, I want to leave my kids enough that they never have to have this type of conversation.

[weeksy]

Without getting too deep here, it sounds like you're going to have lots of money 'left' .... what's the logic behind that ?

I'm kinda hoping by the time i drop dead, my lad is all sorted with a house, life and job and leaving £3.24 to him will be perfect for me. Mrs Weeksy is of the logic of "you'll need that money for when you're in a care home"
my thoughts are "if i'm in a care home and shitting the bed, i'm way beyond giving a fuck whether they take 10 mins or 20 mins to wipe my arse"

I’m the opposite, I want to leave my kids enough that they never have to have this type of conversation.

But you must be hoping that by the time you cark it, they'll be 45-50 and should be pretty sorted by then ?

[Count Steer]

There's an old chestnut that says nobodies last words were ever 'I wished I'd spent more time in the office'.

I suppose you could turn that round into a retirement plan and address all those things you might wish you'd done more of. ie do them while you have the money or plan to do them when you have the time.

[Potter]

Without getting too deep here, it sounds like you're going to have lots of money 'left' .... what's the logic behind that ?

I'm kinda hoping by the time i drop dead, my lad is all sorted with a house, life and job and leaving £3.24 to him will be perfect for me. Mrs Weeksy is of the logic of "you'll need that money for when you're in a care home"
my thoughts are "if i'm in a care home and shitting the bed, i'm way beyond giving a fuck whether they take 10 mins or 20 mins to wipe my arse"

I’m the opposite, I want to leave my kids enough that they never have to have this type of conversation.

But you must be hoping that by the time you cark it, they'll be 45-50 and should be pretty sorted by then ?

Yep, but I’d also budgeted to get them into the housing ladder while they were in their 20s as well, otherwise they’ll still be paying mortgages when they’re 45-50.

So hopefully they have a bit of an easier ride and I hope to leave them enough that they’ll retire when I croak, if not before.

[weeksy]

There's an old chestnut that says nobodies last words were ever 'I wished I'd spent more time in the office'.

I suppose you could turn that round into a retirement plan and address all those things you might wish you'd done more of. ie do them while you have the money or plan to do them when you have the time.

That's kinda where i am with the boy and DH racing... it's a great big black-hole, sucking the time, money and life from our existence... but we LOVE it and in 20 years time when i'm 70, i'll have these days to think "yeah that was ACE".... or i can have an extra £ or more and sit thinking "yeah that'll buy me another beer at the local" lol. I could stick the money in the pension and the boy could sit at home playing x-box... OR.... we could be DH racers living the dream.
As you can gather, that's what i've chosen.

[Potter]

That's kinda where i am with the boy and DH racing... it's a great big black-hole, sucking the time, money and life from our existence... but we LOVE it and in 20 years time when i'm 70, i'll have these days to think "yeah that was ACE".... or i can have an extra £ or more and sit thinking "yeah that'll buy me another beer at the local" lol. I could stick the money in the pension and the boy could sit at home playing x-box... OR.... we could be DH racers living the dream.
As you can gather, that's what i've chosen.

I did the same with my lad racing motocross and riding in the desert, we just spent the money.

But now they’ve all grown up it’s time for us to slam the money away for our retirement.

[Le_Fromage_Grande]

I'm hoping I die before needing to go in a care home, that really isn't how I want to live.

[Count Steer]

I'm hoping I die before needing to go in a care home, that really isn't how I want to live.

And I'm hoping to be gunned down by a jealous husband on being caught in bed with his delumptious 25 year old wife...but things don't always go according to plan....

[weeksy]

I'm hoping I die before needing to go in a care home, that really isn't how I want to live.

And I'm hoping to be gunned down by a jealous husband on being caught in bed with his delumptious 25 year old wife...but things don't always go according to plan....

yeah but you can help plans along.... how's the barmaids looking in the Hurtwood ?