what is a rational percentage to save

de1amo

if your saving 35pc plus pension and mortgage capital--that must be add up to 50pc plus!??
i have long term goals but that is hindering my short term living1 i aim toward buying a retirement place for my old age--but it doesnt cut much ice with my wife who is 34! -i am 47 and time is short!!!

Sandrock

We have quite a small mortgage so the interest capital payments are reasonably low, and I work in the public sector with low employee pension contributions.

de1amo

i draw my works pension due to ill health--hopefully it wont go bust!-my mortgage is offset with cash and assets that are easily accessed --i have had suggestions ranging from 10 pc up to your 35pc-and they mostly include pension contributions in their saving rate!-everyone agreess i am irrational(some say mad!)but it seems to give me confidence by stashing the cash
my mortgage is 92 quid and i keep it to offset against any rents i may get if i go the letting way in life!--i am stoozing on it!

claire07

A lot of it can also be upbringing. I was always encouraged to save rather than spend and while working I carried on saving for security so I could move jobs if I wanted or not have to put up with something I didn't like. The problem is now after retirement when things are more comfortable I find it hard to relax about spending. I'll always go for the cheapest item even though I really preferred the more expensive one. As you say it's hard to change a mindset you've had for a long time.

de1amo

İ am finding it quite uncomfortable!-its an unhealthy state of affairs when you cant 'let go'-i sometimes think when i see the titles of some of the threads here if we have a healthy relationship with money!
My wife is from Turkey and she is very content in her financial skin! people dont seem to be so absorbed with money matters and they seem to live in the present and with what they have today!--
İts strange because i was brought up a saver by parents who were born during the austerity of the late 20s and 30s -- i guess they shaped me --but now they have gone the other way in old age and are really splashing the cash in their 80s--too late for my liking!

tara747

claire07 wrote: »

A lot of it can also be upbringing. I was always encouraged to save rather than spend and while working I carried on saving for security so I could move jobs if I wanted or not have to put up with something I didn't like.

I am like this too. Although I also believe in enjoying life and will prioritise my spending so that I can afford to do the things which I love. I do like the security/freedom that savings bring.

de1amo, your parents are right to enjoy themselves now, after a lifetime of saving and sacrificing. Good for them.

de1amo

Thats how i see money--it brings freedom of mind and gives security but i seem to be digging another hole!!
İ am really glad my parents are released but i am hoping it doesnt take me til i am 80 to unbond!
-i now worry about my step daughter(12) and her 'inheritance' from us!!--i am new to fatherhood and the financial responsibilities it brings!-i have a trust in place for her further education --i took that one out in my 20s!!---all this worry willl kill me!!

tara747

de1amo wrote: »

Thats how i see money--it brings freedom of mind and gives security but i seem to be digging another hole!!
İ am really glad my parents are released but i am hoping it doesnt take me til i am 80 to unbond!
-i now worry about my step daughter(12) and her 'inheritance' from us!!--i am new to fatherhood and the financial responsibilities it brings!-i have a trust in place for her further education --i took that one out in my 20s!!---all this worry willl kill me!!

Er, she is 12, therefore she wasn't born till you were 35!

de1amo

called financial planning!!-i didnt even know her mother when i was 35!!she is my step daughter but at some time i guessed i might have a child'!--makes it more silly her natural father is competing for her affection by doing too much for her financially--we counted she is the sole heir of about 5 homes

tara747

OK... think you need to chill out in that case. Spend a little... or let your wife spend it!