Pensions Planning: The NUMBER

LHW99

Making your own wine sorts the alcohol budget - especially if you grow your own fruit or have good local hedgerows for blackberries / elderberries.

Our number will be around 28k pa, and at the moment seem to be on target - long may it remain so!

lakelady

I am cutting in - doing something I never usually do on discussion forums; but am just not happy about reading the rest of this thread because of the horrible tone and sniping.

What is wrong with asking people to estimate a reasonable retirement income? Yes, there will be plenty of people who will want a higher (or expect a lower) amount. But what is wrong with bouncing ideas off one another?

I am hoping to retire soon, and would find it very helpful to know how my situation compares to others. Is that so bad? It might help me to decide whether or not to chuck in the towel or keep going.

I know that I have to decide for myself, ultimately; but !!!!!!, what is the point of squabbling between people who are supposedly all trying to help one another out when it comes to making retirement decisions.

westv

Horrible tone and sniping?? Where?

Kynthia

lakelady wrote: »

I am cutting in - doing something I never usually do on discussion forums; but am just not happy about reading the rest of this thread because of the horrible tone and sniping.

What is wrong with asking people to estimate a reasonable retirement income? Yes, there will be plenty of people who will want a higher (or expect a lower) amount. But what is wrong with bouncing ideas off one another?

I am hoping to retire soon, and would find it very helpful to know how my situation compares to others. Is that so bad? It might help me to decide whether or not to chuck in the towel or keep going.

I know that I have to decide for myself, ultimately; but !!!!!!, what is the point of squabbling between people who are supposedly all trying to help one another out when it comes to making retirement decisions.

Are you perhaps dragging up something from months ago as there's nothing I can see in the last few pages? Perhaps 'cutting in' isn't the best idea of that's the case.

Bootsox

lakelady wrote: »

I am cutting in - doing something I never usually do on discussion forums; but am just not happy about reading the rest of this thread because of the horrible tone and sniping....

I was really enjoying this thread until loonylady butted in:mad:

k6chris

Fretting and stressing over an increasingly unsecure job so have spent a few months analysing what we spend each year. Created a range of scenarios from 'cutting back' (CB) through 'OK', to 'very nice thankyou' VNT. For us these range from almost exactly £20k to £30k net per year (between the 2 of us). Today I have been building 'that' retirement / redundancy spreadsheet and then compared the two.

VNT in 9 months.
....OMG.....

Stubod

..K6..GO FOR IT........I handed in my notice the other day...5 yrs of doing a job I don't really like that much, sooo much stress. Have been analyzing spending over the last few yrs and working out planned ongoing expenditure (very similar to yours)...and ended up with 30k per year, index linked...so hopefully OK...can't wait to walk out the door that one last time!!

chiefie

Still struggling a bit with my OH who believes they need 2k a month net just for them �� I have some work to do there as I still believe we need only 3k per month net once last child has gone through uni. My view is that my health and well being are more important than more money so it's another 2 years to go. It's going to feel longer than that I'm afraid. Not looking forward to the review of state pension age as one of my DB pensions is linked to it. 67 for now but I can see them trying to make it 69 !!

cns06

We are hoping to retire at 50. I started a thread about retiring at 40 a while back but we have thought it over and we are fully committed to 50 now. We hope to save like crazy and build up a good pot and then travel for 10 years.

Numbers stack up at roughly £20k PA for bills, food, fuel, entertainment in the UK. Then travel we would like to take at least 4 long haul trips per year, looking at inflation and general costs we budget around £5k per trip so that's another £20k PA. On top of that we added £10k PA for luxury items / unexpected spend. I expect we would live that lifestyle till we are around 60 ish. Not cheap!

If that all works out we would then look at pension income from 60. If the rules stay as they are I think that might all work out ok.

atush

40 was over optimistic- I am sure I said that on your thread lol. To me, 50 is optimistic too, but if you plan well enough in advance?

The problem is, at 50 you have just over (or under) 30 years of working life. And could have to fund 50 years of retirement. Very difficult.