Pensions Planning: The NUMBER
Comments
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AnotherJoe wrote: »Fair enough but misleading to imply the posters numbers are in question on the basis of that?
I didn't think I did that - it certainly wasn't my intention. I was just trying to comment that everyone's numbers are different. The poster seemed worried that they had missed something when seeing people quoting figures much higher than theirs for target income. If their figures are a true representation of their spend then they will be in a good place on just the SP so further investment would cover luxuries, unexpected capital costs and possible care home fees.I’m a Senior Forum Ambassador and I support the Forum Team on the Pensions, Annuities & Retirement Planning, Loans
& Credit Cards boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com.
All views are my own and not the official line of MoneySavingExpert.0 -
I don't think you have missed anything major - I think you must just live in a cheaper part of the country than me (in a cheaper house and with less cars) with no expensive pets
My equivalents are in red next to yours
Yes Northern Ireland in 3 bed bungalow in small village - house worth about £120k , no water rates here (yet!!) Your council tax is very high - eeeeek £230/m is a lot - is this like our rates and based on house size ?Does this match the total averaged over a year you are actually spending now apart from things that definitely wont apply when you are retired? I strongly recommend that you keep track of your actual spending and use that as a basis for retirement planning, there are always costs that you wouldnt have included in a budget. You will have got used to a particular standard of living over many years and may not be happy cutting back for the final 1/4-1/3 of your life.
Very hard top work out exact spending as we have three teenagers still at home.Maybe we'll go more 'eco' when we are older but at the moment we need big cars for big dogs and a teenager.
It just demonstrates why it is important to work out your own 'Number' and not just use what other people are saying.
and of course near impossible to spend - teenagers are expensive to keep lol0 -
Yes Northern Ireland in 3 bed bungalow in small village - house worth about £120k , no water rates here (yet!!) Your council tax is very high - eeeeek £230/m is a lot - is this like our rates and based on house size ?
it is based on house value (using the price the house would have sold for in April 1991 apparently).
Yes teens are expensive. We have 2.5 years till ours goes to Uni which will also be expensive.I’m a Senior Forum Ambassador and I support the Forum Team on the Pensions, Annuities & Retirement Planning, Loans
& Credit Cards boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com.
All views are my own and not the official line of MoneySavingExpert.0 -
Don't those in NI pay for water as part of their house rates - so a lot of people could potentially be paying more than they would with a meter??0
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it is based on house value (using the price the house would have sold for in April 1991 apparently).
Yes teens are expensive. We have 2.5 years till ours goes to Uni which will also be expensive.
bit longer here - they are 13 -16 & 18, but the mortgage is finished around the same time so that will top up the savings pot, and should have more spare cash to squirrel away.0 -
Don't those in NI pay for water as part of their house rates - so a lot of people could potentially be paying more than they would with a meter??
I think we do, there has been different attempts to charge separate water bill. £83/month on a decent size bungalow is probably ok compared to mainland prices for council tax and water.0 -
DairyQueen wrote: »Believe me, it could be a lot worse. My teeth have cost me almost £16000 since 2012. It's this kind of expense that should be factored into retirement plans but s rarely considered. I have also been involved in a costly planning dispute that hit me from nowhere at the end of 2016. I won't even mention how much that has cost (ouch!)
I spent £18,000 on my teeth between 1997 and 1999, though I got £2000 back as my employer started a dental scheme just before my last treatment.
I had been told for years that I had a funny bite but it was only after moving to an area with no NHS dentist available that I found a private dentist who addressed the cause of my problems. Unfortunately most of my teeth had to be crowned.
When I tripped I broke some f those crowns and yesterday the broken ones were removed - which is why I was feeling sad.
I agree that such things seem to be rarely considered. when calculating someones number. I thin £2,000 a yesr for unexpected things like this and the MOT bill I got last year is needed.0 -
DairyQueen and Terron I had no idea that you could get a bill that high for teeth !!
Hubby lost his front top row in an accident - and to rebuild, make new teeth put in bridge etc was in the region of £1400 but visa NHS treatment the amount we paid was capped at around the £500 mark.0 -
only after moving to an area with no NHS dentist available
i sympathise. I wouldn't have dental treatment under the NHS ever again. I had the same NHS dentist for 7 years - 6 monthly check-ups and never any alarm bells raised. I moved to the US (gold-plated dental insurance). US dentist took one look and tut-tutted big time. Embarrassing? You bet.
Returned to live in the UK and visited previous NHS dentist. This time I was referred as a private patient and saw a consultant dentist. Then I was diagnosed as requiring at least £9k of dental treatment.
Dumped this dentist and visited another. The £9k was very optimistic.
NHS dentist must have known that I needed extensive remedial work but never raised even a warning flag when I was a NHS patient. Result of delay = massive tooth loss. I now have a bone graft, two implants, two bridges and several crowns. The bone graft/implants are not available on the NHS.
Conclusion: NHS dentist didn't receive anything like the income from NHS patients as from private patients. Dentist therefore had zero incentive to treat NHS patient. Why bother fitting an NHS denture for customer a) when customer b) is paying for implants and bone grafts at a cost several times greater.
NHS dentistry is a complete farce.0 -
That does sound a very bad experience.
It does go the other way sometimes, and most dentists have both NHS and private patients.
My OH often inherits a patient from another dentist who wasn't doing all the treatment he woukd have done. Some do just coast along, private or NHS.
There are definitely some political problems with how it's funded, but for tge majority of dentists I dont think it's about the money in that way. I think youve been really unfortunate.Save 12 k in 2018 challenge member #79
Target 2018: 24k Jan 2018- £560 April £26700
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