Single pensioners

Errata

There's little benefit in comparing one's own life with that of others. The bottom line is for people to be as happy as they can be with their own life, and be thankful they still have one.

pollypenny

OH and I are with you there, MW. We are careful with the pensions, so we can have holidays.

I am having a bit of trouble with him agreeing to spend on any holiday other than going back to the US to see DS. He can't see that there is no point in saving; he's not a real SKI-ER!

lilac_lady

Merrywidow wrote: »

To be honest lilac lady - I have quit listening to moaners, life is too short. As you say its all about being sensible. I am quite comfortable and enjoy economising to finance other treats like holidays. Being single now means to me that MY time has come, as you say, you watch what you want, eat what you want and life is just what YOU make it. Being single has many things going for it. (Mind you I still hate putting out the bins!)

I could have written that post myself MW!

margaretclare

Errata wrote: »

There's little benefit in comparing one's own life with that of others. The bottom line is for people to be as happy as they can be with their own life, and be thankful they still have one.

I completely agree with this.

We constantly see this type of argument used in favour of not saving i.e. someone knows someone who never worked or saved and now lives on means-tested benefits and 'gets it all'.

I cannot take on board these kinds of argument. For a start, I can't go back into the past and not take the decisions I took which have resulted in us being slightly better off. Even if I could go back into the past, what I would do is to save more and not less! I would make certain major decisions differently, but what I would not do is 'spend it all in the pub' as some people say I should.

jangor_2

I am quite interested in this thread since I have been worrying over recent years how I can manage on my own once I retire, which I am too terrified to even consider as long as I can keep working. When I am eventually forced to leave my employment, my income will drop to approximately £8000 per year. I have been advised I will not be entitled to any extra assistance. I have been over and over the essential bills but the outgoings appear to exceed my probable income. I have been on my own with two children and have always worked full time but my income has been insufficient to cover a personal pension until recently. I took out a small private pension about ten years ago which means that my income will be just above the level where pension credit or any help can be applied for. I am just puzzled how people manage.

Farway

jangor wrote: »

When I am eventually forced to leave my employment, my income will drop to approximately £8000 per year. I have been advised I will not be entitled to any extra assistance. I have been over and over the essential bills but the outgoings appear to exceed my probable income. .... I am just puzzled how people manage.

I think it comes down to what one considers "essential bills"

Some consider Sky Sports essential, or two weeks in Florida, new car every two years, or whatever

My income is State pension, plus the SERPS bit or whatever it is called now, and I have absolutely no problems paying my way, and have surplus left over every week, I do not have rent to pay though [now own house bought on mortgage over umpteen years]

Pobby

I wonder why this should be

http://www.thisismoney.co.uk/pensions/article.html?in_article_id=426261&in_page_id=6

There seems to be a disregard for pensioners in this country. Annuities are dreadful, not helped by Browns tax on dividends.

jangor_2

In response to an earlier post I have not included any luxury bills, i.e. I do not have sky or any extra luxuries in life. I have included gas, electric, council tax, insurances, basic tv licence, water/sewage, cost of my two dogs (which I would not part with), clothes (I buy quite a few from charity shops), the cost of a car (I have an old small car because I live miles from public transport) although will probably have to lose this when I give up working, food shopping (kept to a minimum), house repairs etc. I just cannot keep the costs below my probable income. I do voluntary work as well so I do have some insight into how financially difficult life is for many.

margaretclare

I think for many people, certainly someone who lives far from public transport, a car can be counted as an essential. This is something I've argued about for a long time - it's useless having a free bus pass where there is no bus!

Without a car you would be stuck. Even if you shop online and bank online, there are things you can't avoid - GP and hospital appointments, for instance. Any form of social event outside your own village (assuming there's even a village!) would be off-limits. I think you have to continue to regard your car as essential. Modern cars are not designed to be changed every 2 or 3 years as used to be common. They're designed to last. Even so, it will need tyres, oil, petrol, and annual MOT, as well as insurance and some basic maintenance. Living where you do, I think you can't exclude all of this.

Errata

Jangor - if you post your Statement of Affairs on the Debt Free Wannabee board, people may be able to suggest ways you can reduce your prospective expenditure and live within your retirement budget.

I guess the problem may be that this is the first 'older' generation that has been a member of the 'car owning' generation for all its adult life. People choose to live in their 'forever' home off the beaten track without paying any attention to how they would cope if they no longer had access to a car in retirement.