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    • Karmacat
    • By Karmacat 16th Jan 14, 7:37 PM
    • 27,097Posts
    • 145,167Thanks
    Karmacat
    Breaking Through, Travelling On
    • #1
    • 16th Jan 14, 7:37 PM
    Breaking Through, Travelling On 16th Jan 14 at 7:37 PM
    Hello

    I think a few people on this board know me already, from the dfw board

    I really need the focus of an mse diary - debts are all paid off, except for about 40% of a French mortgage - but income has been declining, and is currently pitiful. And without a diary, I've lost focus on getting the best deal for the things I *do* need to spend out on, like insurance, and Christmas train tickets, that sort of stuff. So I've come back properly after pootling about on other people's threads, and on general threads too, to be fair

    The focus is so that I can replace lost income - so that I can have a holiday of my choosing, for instance - and stopping digging into my savings for ordinary living expenses would be nice too Its also so that I can get my pension up beyond "miserable penury" - its kind of urgent, as under the system that lasted till about 15 years ago, I'd be retiring at the end of this year But I'm not, sadly. The aim is to retire in July 2016, when my younger sister retires, with a reasonable pension.

    One complication in earning more is that between arthritis, energy issues and the need to stay available to what clients I have, I can't / don't want to, take a second job. So more income has to be through other work - patchwork, portfolio, call it what you like (I know I do ).
    Retired August 2016

    Goal: earnings of £25k from new opportunities from September 2016 to December 2020 when my state pension kicks in.Save
Page 286
    • Karmacat
    • By Karmacat 22nd Apr 17, 1:55 PM
    • 27,097 Posts
    • 145,167 Thanks
    Karmacat
    Just read a very interesting article in The Guardian: https://www.theguardian.com/money/blog/2017/apr/22/save-40-a-week-retirement-which-report
    Basically saying that to get to what Which call "the average spend of £26,000 a year in retirement (wtf??? ) that when the state pension is taken into account, a couple only need savings of £152,000 to achieve this (they say spending falls in people's late 70s, so will spend less).

    Hmmm! Since I haven't earned £26k for an awfully long time, let alone need a *pension* of that much, and I have other monies to come not currently included in my calculation of Net Worth (i.e. my French apartment, my inheritance, and equity release on my current house) - then the difference between the above £152k and my current £122,188 is **sucks teeth** £29,812.

    And of course I only have one state pension, not two, because I'm not a couple But as I get more free of the backlog of tasks on the house and garden, I might see my way clear to that new target. I think I might up the target in my sig to remind me of this.



    Off to do the garden now - I just love edible planting
    Retired August 2016

    Goal: earnings of £25k from new opportunities from September 2016 to December 2020 when my state pension kicks in.Save
    • edinburgher
    • By edinburgher 22nd Apr 17, 8:55 PM
    • 10,494 Posts
    • 54,666 Thanks
    edinburgher
    I think you follow what I'm thinking just fine KC, it will be a spring garden

    The site is a bit brighter than I thought forget me nots would like, but they are very adaptable (and I'm pretty sure that a variety has self-seeded already)!

    Currently thinking snowdrops, crocuses when they become available, and 3 types of forget me nots (we'll thin these out to use in other parts of the garden).

    Silly question, but if we use bark chippings, won't it stop the flowers that I do want from growing?
    • earthgirl
    • By earthgirl 22nd Apr 17, 10:16 PM
    • 2,177 Posts
    • 17,529 Thanks
    earthgirl
    Just read a very interesting article in The Guardian: https://www.theguardian.com/money/blog/2017/apr/22/save-40-a-week-retirement-which-report
    Basically saying that to get to what Which call "the average spend of £26,000 a year in retirement (wtf??? ) that when the state pension is taken into account, a couple only need savings of £152,000 to achieve this (they say spending falls in people's late 70s, so will spend less).

    Hmmm! Since I haven't earned £26k for an awfully long time, let alone need a *pension* of that much, and I have other monies to come not currently included in my calculation of Net Worth (i.e. my French apartment, my inheritance, and equity release on my current house) - then the difference between the above £152k and my current £122,188 is **sucks teeth** £29,812.

    And of course I only have one state pension, not two, because I'm not a couple But as I get more free of the backlog of tasks on the house and garden, I might see my way clear to that new target. I think I might up the target in my sig to remind me of this.



    Off to do the garden now - I just love edible planting
    Originally posted by Karmacat
    Thanks for this KC. Its useful to know as for me retirement can seem so far away for us, but it isn't really. Thanks
    15/5/12 Paid off Mortgage 1 (£220k) Dec 13 - £116,508 Bought Dream House Dec 14 - £94, 402 (£22,106 offset in 2014) Jan 16 - £67, 852 (£26,550 offset in 2015) Dec 16 - £33,529 ( £34,323offset in 2016)
    Jan 17 - £39, 773 (Re-estimation of endowments )
    Mar 17 £37,839
    Kids savings 13,578/36k
    • edinburgher
    • By edinburgher 22nd Apr 17, 11:08 PM
    • 10,494 Posts
    • 54,666 Thanks
    edinburgher
    So KC, what you're saying is you're likely to have well more than average retirement funds?
    • greent
    • By greent 23rd Apr 17, 7:07 AM
    • 5,697 Posts
    • 57,603 Thanks
    greent
    what Which call "the average spend of £26,000 a year in retirement (wtf??? )
    Originally posted by Karmacat
    Our neighbours (retired couple in their 70s spend at least this, I reckon - 4 or 5 cruise holidays a year (not mini break ones, either), plus several other breaks plus they are always having workmen in to do decorating/ odd jobs/ maintenance - all adds up!
    Repaid mtge early (orig end 11/25) Bal 01/09 £124616 01/10 £104927 01/11 £89873 01/12 £76317 01/13 £52546 01/14 £35356 01/15 £12133 07/15 £NIL
    Next up: BTL Mtge Op Bal £69786. Cur Bal £67286 - 2017 target (18) £1000/£3286
    Net sales 2017 £435.84/£500 PAYDOX17 £8983/£10k Apr GC £265.66/£500 NSD 12 Decluttered 691/2017 items
    • Karmacat
    • By Karmacat 23rd Apr 17, 9:41 AM
    • 27,097 Posts
    • 145,167 Thanks
    Karmacat
    I think you follow what I'm thinking just fine KC, it will be a spring garden

    The site is a bit brighter than I thought forget me nots would like, but they are very adaptable (and I'm pretty sure that a variety has self-seeded already)!

    Currently thinking snowdrops, crocuses when they become available, and 3 types of forget me nots (we'll thin these out to use in other parts of the garden).
    Originally posted by edinburgher
    Thats all good then

    Silly question, but if we use bark chippings, won't it stop the flowers that I do want from growing?
    Ah! Thats a good question, not a silly one. Nope, they don't, believe it or not - bark chippings don't stop weeds from growing, or ordinary plants from growing - what they do is that when weeds drift onto the surface of the bark chippings, the weeds are forced to root into the chippings - so you can hoick them out really easily, as opposed to digging down and disturbing your carefully planted ones.

    Of course, you have to be a bit careful placing your chippings *around* the plants at first. Nature has been doing it for thousands of years, you'll be fine

    So KC, what you're saying is you're likely to have well more than average retirement funds?
    Originally posted by edinburgher
    sort of but that article depends on a couple's state pension income, and there's only one of me. Still a good aim though

    greent and all - I'm just starting to see my way clear to relaxing a bit more, and that when I choose to focus and work, its on things that I like, like writing and the cat designs that have been on the backburner for so long. Not pruning hedges and navvying! Roll on 4 - 5 cruises a year I have 10 days in London next month, catsitting - got a few things lined up already to do during the day
    Save
    Retired August 2016

    Goal: earnings of £25k from new opportunities from September 2016 to December 2020 when my state pension kicks in.Save
    • SuperSecretSquirrel
    • By SuperSecretSquirrel 23rd Apr 17, 10:18 AM
    • 492 Posts
    • 2,146 Thanks
    SuperSecretSquirrel
    That article depends on a couple's state pension income, and there's only one of me. Still a good aim though
    Originally posted by Karmacat
    Surely your expenses would be lower than those of a couple? The income of a couple and the expenses of a singleton... Sounds like a recipe for a luxurious retirement to me!
    Mortgage [2013 £64k|2014 £51k|2015 £38k|2016 £26k] £20,907.54
    DN [2013-£25k|2014-£2k|2015+£16k|2016+£34k] +£39,577.75 (MFiT4:+60k)
    NW [2013 £126k|2014 £156k|2015 £190k|2016 £228k] £245,670.99 (2020:300k)
    FI [2013 -1.2%|2014 2.8%|2015 6.9%|2016 13%] 14.5%
    • beanielou
    • By beanielou 23rd Apr 17, 12:17 PM
    • 45,903 Posts
    • 161,383 Thanks
    beanielou
    Surely your expenses would be lower than those of a couple? The income of a couple and the expenses of a singleton... Sounds like a recipe for a luxurious retirement to me!
    Originally posted by SuperSecretSquirrel
    A common misconception.
    We have much the same expenses apart from food as a couple.
    Utilities are much the same blah blah.
    Lou~ Debt free Wanabe No 55 DF 03/03/14.
    **Credit card debt free 30/06/10~** **Weight loss 2 stone 2 lbs **

    "A large income is the best recipe for happiness I ever heard of" Jane Austen in Mansfield Park.
    ***Fall down seven times,stand up eight*** ~~Japanese proverb.
    It starts with you, it starts from now. *** It is ok to be me.*** ***Keep plodding***
    • Karmacat
    • By Karmacat 23rd Apr 17, 1:04 PM
    • 27,097 Posts
    • 145,167 Thanks
    Karmacat
    There's something to both those points. When I go out for a meal, I order one meal, not two. But if I buy a DVD, it costs me the same price as a couple pay between them. And it costs the same to heat my living room as it does for a couple to heat their living room between them. If a couple needed to earn more dosh, they've got twice the chances I have, because there's two of them. Its six-and-two-threes, I think But I like it as a goal, I must say, even though it has limited application to me. Must change up the sig.

    I pootled back online to say I've *finally* managed to upload 5 things for sale - 4 are just reopening withdrawn books etc on Amazon. The fifth is a new one on Amazon (though I didn't mean to!) that may or may not come online, don't know. And its a collectible too, which hasn't gone into the information. Still 4/5 isn't bad - though 3 of them have "quality alerts", and Ive no idea what that means. Shutting down for today as soon as I've found out

    ETA - right, ebay it is, for that one, I've just found another autographed one on there.
    Save
    Last edited by Karmacat; Yesterday at 1:23 PM.
    Retired August 2016

    Goal: earnings of £25k from new opportunities from September 2016 to December 2020 when my state pension kicks in.Save
    • EatingTheElephant
    • By EatingTheElephant 23rd Apr 17, 4:15 PM
    • 813 Posts
    • 4,018 Thanks
    EatingTheElephant
    I never knew that was the reason for putting bark down! Makes complete sense when it is explained like that.
    • edinburgher
    • By edinburgher 23rd Apr 17, 4:27 PM
    • 10,494 Posts
    • 54,666 Thanks
    edinburgher
    So do the bark chippings go over the seeds? Basically cover everything? Got gravel cleared, prepared area and put down compost. Gave that a rake and all seems well...
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