How much do you save?

[Mr. Dazzle]

I am also acutely aware of the risk of "deferring today so you can enjoy tomorrow".

You have to make your own choices!

[Yorick]

Part of our plan was to retire somewhere that you don't need a big pension.

We don't need holidays or expensive cars and clothes.

I reckon we get by on half what it would cost us in the UK.

[Yambo]

Apart from retirement, there's not much incentive to save, is there. Interest rates are non existent.

I've always saved for what I want and sort of continue to do that and I currently have a pot for the winter holiday that didn't happen last year but will hopefully be on this December and for a telescope upgrade but other than saving for things (rather than buying on credit), I don't save. My sons have an inheritance but it ain't cash, that's for certain.

[Mr. Dazzle]

Apart from retirement, there's not much incentive to save, is there. Interest rates are non existent.

Mine dropped to 0.1% on ISA and 0.01% on regular cash last year

My investment ISA on the other hand did just over 9% last year. But then my cash savings will at least never go down.

[Nobby]

Apart from retirement, there's not much incentive to save, is there. Interest rates are non existent.

Mine dropped to 0.1% on ISA and 0.01% on regular cash last year

My investment ISA on the other hand did just over 9% last year. But then my cash savings will at least never go down.

What has the isa done over the last 2 years ?

[Mr. Dazzle]

28% since I started it in early 2019.

Somewhat paradoxically 2020 was a very good year for many equities!

[Yorick]

We don't need holidays or expensive cars and clothes.

That might not sound significant but I find it makes a big difference, we don't go on beach holidays, right now I'm sunburned and you couldn't pay me to go on one.

And clothes...if I'm just sitting around the house I mostly live in Asda shorts and whatever t-shirt comes to hand. I've got some nice clothes, I might wear something decent if we go out at the weekend but mainly I'm a tramp.

Ditto. I can see the sea, while sat here watching MotoGP.
I'm on holiday every day.

[Yorick]

Apart from retirement, there's not much incentive to save, is there. Interest rates are non existent.

Mine dropped to 0.1% on ISA and 0.01% on regular cash last year

My investment ISA on the other hand did just over 9% last year. But then my cash savings will at least never go down.

Imagine if it went back up to crazy numbers again, for every 100k in the bank at 15% you can have a new bike every year on the interest alone.

I get 0.15% at the moment.
It's ridiculous, put 100k in the bank and it won't even get you a set of tyres from the interest.

My first mortgage was about 15%.

[Yorick]

I'm bloody glad we retired when we did, coz last night I found out that's it's bloody hard to come live here now from the UK, post Brexit.

Pen's brother and wife had always planned to move here when kids grow up, but there's no way they can match the financial entry requirements.

We might have struggled if we'd waited. But we're safe now.

[weeksy]

but there's no way they can match the financial entry requirements.

We might have struggled if we'd waited. But we're safe now.

What are they ?

[Yorick]

but there's no way they can match the financial entry requirements.

We might have struggled if we'd waited. But we're safe now.

What are they ?

Half mill per person. That's what we were told.
Or essential job paying €35k

[weeksy]

but there's no way they can match the financial entry requirements.

We might have struggled if we'd waited. But we're safe now.

What are they ?

Half mill per person. That's what we were told.

That seems quite a stretch and there's got to be a bit more to it... Using that criteria i'd guess very very few people would be able to manage it.

[Yorick]

What are they ?

Half mill per person. That's what we were told.

That seems quite a stretch and there's got to be a bit more to it... Using that criteria i'd guess very very few people would be able to manage it.

I added the bit about essential job paying €35k

[weeksy]

Half mill per person. That's what we were told.

That seems quite a stretch and there's got to be a bit more to it... Using that criteria i'd guess very very few people would be able to manage it.

I added the bit about essential job paying €35k

Mmmmm still seems pretty strong. But it's their choice of course... If we're going anywhere it's more likely to be France anyway.

[Mr. Dazzle]

Imagine if it went back up to crazy numbers again, for every 100k in the bank at 15% you can have a new bike every year on the interest alone.

I'm about 15 years into a mortgage, so until recently I was early doors and would much rather have very low rates!

As it happens, it looks like when I remortgage now I'll get even lower rates than when I did during the depths of the 2008/09 recession.

[Yorick]

That seems quite a stretch and there's got to be a bit more to it... Using that criteria i'd guess very very few people would be able to manage it.

Perhaps that's the idea, they don't want anyone there that might be a burden.
I'd be over the moon if I'd just moved somewhere and was safe, but then they pulled the ladder up so it was really hard for anyone else, it sort of guarantees your new neighbours won't be scrotes.

I always said I'd never be a millionaire, so if I ever get close to that cash amount in the bank it'll be given to the kids to keep me under, so it looks like Lanzarote is off the cards for us.

[Taipan]

Mainland Spain will suffer badly without Brit tourism and I suspect that will spread to the canaries too. They may well lower their sights/conditions if post brexit they suffer from loss of income.

[Mr. Dazzle]

I always said I'd never be a millionaire, so if I ever get close to that cash amount in the bank it'll be given to the kids to keep me under, so it looks like Lanzarote is off the cards for us.

I dunno...I quite fancy having a million quid in the bank earning 4-5% in dividends every year. Live it semi large while you still can then super fancy retirement home with gold plated bed pans and silk incontinence pads.