Pensions Planning: The NUMBER

Gatser

Linton wrote: »

I do not allow us to exceed our budget in any running 12 month period, but do consider it our duty to get as close as reasonably possible.

I would not claim that my NUMBER and PLAN guarantees happiness, but it does minimise the stress of financial worries.

TWO good points!
I think that having spent a lifetime being prudent, cautious, .... (did someone say Fagin? ) ... its a REAL challenge changing habits of a lifetime and SPENDING .... or is it just me ?

Gatser

peterg1965 wrote: »

By the time I am 55 the children will all be through University and financially independent (I hope) and with the lack of a mortgage and not paying pension contributions we should be in a healthy financial position to realise a comfortable, and god willing, a long retirement. A lot can happen in the next 11 years though!

I wish I was organised enough to maintain a spreadsheet of past living costs and outgoings in order to conduct a more scientific analysis of retirement needs, but I am not!

Your planning is similar to mine (ours!)
I have heard alot of people use "the unknown" as an excuse not to plan or even think about retirement.... but not us on here!

Its a shame after all your careful thought, that you do not track progess on a spreadsheet so you can make sure you remain on target. It would also be interesting to compare notes! :T
Good Luck!

gallygirl

Gatser wrote: »

Thanks for feedback.
Now you have me thinking about a place in the sun again!
Are you in Spain? or where can you recommend?
Probably need to keep a UK base as well?

Good idea about the local B&B for relatives... it could work in many ways methinks!

You only have to look at energy costs in the winter months to realise what savings can be made by living abroad... but I think I would be concerned about frozen pipes etc

Yes, I have a place in Southern Spain (where they actually speak Spanish & you have to actively seek out all day breakfasts ). The prices have fallen an incredible amount in the last year - but we bought with no mortgage, selling 2 BTL's at the top of the market, and got a v good exchange rate so I like to think it all evens out. The main thing however is we bought as a home not an investment.

Gatser wrote: »

Totally agree on the unknowns... just had a close (youngish) death as a solemn reminder...it brings some reality to these NUMBER debates

Same here

Gatser wrote: »

TWO good points!
I think that having spent a lifetime being prudent, cautious, .... (did someone say Fagin? ) ... its a REAL challenge changing habits of a lifetime and SPENDING .... or is it just me ?

Em, no, not just you

elona

It is not just you.

I have just had a heck of a job persuading DH to actually put a deposit on a new car.

He takes early retirement at the end of this month and the company car will go back. With one DD in her final year at university, another nearly 16 and hopefully going to university in a couple of years, we need a family car.

We have spent ages researching the market, agreeing what we want etc and finally agreed on a make with a low road tax, good size for luggage, shopping etc , good headroom and a very good mpg.

He phoned about 20 dealers and seems to have got a really good deal but agonised over the idea of spending the money (and that is just the deposit ).

Gatser

elona wrote: »

It is not just you.

We have spent ages researching the market, agreeing what we want etc and finally agreed on a make with a low road tax, good size for luggage, shopping etc , good headroom and a very good mpg.

He phoned about 20 dealers and seems to have got a really good deal but agonised over the idea of spending the money (and that is just the deposit ).

...and then you don't tell us what this fantastic car is!
I am in similar situation... but with two (almost!!) vintage cars that just keeping running ....and running....so why change??? I am waiting for them to produce such an economical car.... please tell.

elona

I don't dare mention the name as it looks like a brick!

DH reckons it is the ugliest car he has ever seen (which startled the salesman when he said it out loud) :rolleyes: but it is a "workhorse" that will do what he wants.

ffacoffipawb

elona wrote: »

I don't dare mention the name as it looks like a brick!

DH reckons it is the ugliest car he has ever seen (which startled the salesman when he said it out loud) :rolleyes: but it is a "workhorse" that will do what he wants.

Volvo?

(Mind you they don't all look like bricks any more.)

peterg1965

ffacoffipawb wrote: »

Volvo?

(Mind you they don't all look like bricks any more.)

Fiat Multipla?

elona

Ssshh!!!!

I didn't say this O.K?;)

Bipper Teepee (Outdoor) that came out about three months ago.

ffacoffipawb

elona wrote: »

Ssshh!!!!

I didn't say this O.K?;)

Bipper Teepee (Outdoor) that came out about three months ago.

Made by Peugeot ...



I've seen worse.

Edit: Priced from £10k, not bad at all.