Terrified of retirement

moneyistooshorttomention

I sympathise, as around £800 per month sounds low to me (though I'm currently on less than that and regard my current income as so low as to be pathetic, because I haven't yet reached my Revised State Pension Age and hence a large chunk of my income isn't yet coming in each month). Funding a car from that as well:eek:

I shall be on noticeably more than that once I get the rest of my pension and still won't be able to afford to run a car, so its just as well I don't actually want one (well I didn't...but I have moved to somewhere rather more rural and had underestimated the low level of provision of even what I regard as "basic amenities", so my view might change to still cant afford/but want one at some point:cool::cool:).

I think it will be possible for me to cope with the level of "ruralness" (ie lack of facilities) I have here personally, provided I can get a bus every few weeks to one of the nearby bigger towns. Is that an option for you and you could do without the car, or are you even more "rural" than I am in location and with an even worse bus service?

Perhaps a SOA might help us see if there is any scope for financial juggling?

jangor_2

Apologies I forgot to add I do have a water meter. I note the points about glasses, free prescriptions etc. Thankyou. We do have buses which go into town but we don't have any local shops so it is necessary to travel for groceries or I suppose have them delivered but then I will need to keep my computer, broadband and telephone which is another expense. My goodness I guess I will have to try much harder. I am very grateful for all the input, it is certainly helping.

bluep

Jangor,
I'm so sorry to hear that you are dreading retirement so much. Hopefully knowing that others are also workign within such a low budget gives hope that its possible. There are lots of ways to reduce costs and this is an excellent website for advice.

You mention family living quite a long way a way. I would HATE to think that I had family who were struggling and didn't come to me for help - if they are close (children?) is there anyway you can talk to them? I'm guessing they are family that you want to see but not close enough to help moneywise. Or at least explain that you'd love to come and visit them but after retirement just won't have the funds - you may find that they would be happy to send you the train tickets for family occasions, I wouldn't blink at sending anyone in my family a return ticket if they wanted to come for Christmas or a birthday but money was tight.

Any home-work that you could do to bring in additional cash? Do you have a garden where you could grow some of your food? Perhaps if you posted your specific budget here, then people can comment where costs seem high?

Good luck and I hope you get to a place where the future seem less frightening.

pollypenny

Jangor, don't get rid of your broadband, as it can be the means to prevent isolation, even coming on MSE. And chatting.

You will be be to order stuff for delivery, then.

If you can pay your line rental upfront, it's fairly cheap. £114, then £15.50 a month with Talktalk for us.

moneyistooshorttomention

Re telephone and broadband, my provider is around £30 a month for the lot and that includes 24/7 phone calls every day of the week (except to mobiles and stuff). That is actually not that much more than I paid years back for phone only and only with unlimited calls at evening and weekend as I recall.

Always worth doing a bit of shopping around re provider, as I would imagine its generally the case that broadband costs little (if any) more than an unlimited phone tariff.

Living on your own you DO need that unlimited phone tariff, even if you lived in an urban area, but all the more so with being rural.

Upsidedown_Bear

OP - this is the link for the Statement of Affairs.
You can format it for MSE at the end.

http://www.stoozing.com/calculator/soa.php

jangor_2

I am so very grateful to everyone for taking the time to reply. It really helps knowing I am far from alone and so many helpful tips.

janiebquick

jangor wrote: »

The life insurance is only a very small amount which will pay for my funeral.

Your estate will cover the cost of your funeral.

Mojisola

janiebquick wrote: »

Your estate will cover the cost of your funeral.

Only if there is enough money in your estate to pay it!

With funerals costing £3000+, a lot of people don't have enough savings to cover the costs.

PlymouthMaid

It isn't a fortune but has others have said above, quite a few of us manage on that kind of income now when we are working. As you are a dog lover, could you maybe earn a little to supplement it by walking other people's dogs or even dog sitting? Try not to worry and hopefully these lovely people will give you great advice.