How comfortable are you?

torbrex

remorseless wrote: »

Say you were mortgage free, debt free and with £20K in savings, [what about pension]? What would you do then?

What that be comfortable enough not having to worry about 'serious' career/jobs and just enjoy with more casual jobs? ty!

You have just described me

I have a monthly income from my pension fund and I pick up the occassional shift in my zero hour contract job, at 55 life is good

[Deleted User]

remorseless wrote: »

Say you were mortgage free, debt free and with £20K in savings, [what about pension]? What would you do then?

What that be comfortable enough not having to worry about 'serious' career/jobs and just enjoy with more casual jobs? ty!

I can't think like that as I would go insane with the worry, I just need to concentrate on the targets we have set re debt free and mortgage free while employment is good. My jobs are part time casual jobs anyway and should be easy enough to pick up something else should I lose them. However, I am starting college in Sept to hopefully make me more employable and give me more options. Our pensions are doing ok but we are aiming to increase payments in September. Got a pension review with our adviser soon.

My husband is on a good income for now and his contract should last at least another 18 months. His skill is in demand so we are hopeful his good income or at least a steady income will continue but can only take things a contract at a time. I don't think in this day and age anyone truly feels safe in their employment. I don't want to tempt fate by being over confident.

Archi_Bald

torbrex wrote: »

You have just described me

I have a monthly income from my pension fund and I pick up the occassional shift in my zero hour contract job, at 55 life is good

Hang on, you are not supposed to be happy on a zero hours contract.

nirajn123

Simple answer: Living mortgage and debt free gives me great comfort and I know it from experience - lived in a small flat mortgage free for couple of years before marriage/kids and it was amazing.

But! while I can get there again in next 5 years with a much bigger house, I ask whether that is the right thing to do from retirement point of view - I'll have a rent free place to live but nothing much else. Is comfortable feeling now at the costs of future financial worries? Are savings going to be enough to sustain post retirement income?

torbrex

Archi_Bald wrote: »

Hang on, you are not supposed to be happy on a zero hours contract.

I've heard that :whistle:

Goldiegirl

Being comfortable -


Both of us being retired before state pension age with pension income that is sufficient to pay all bills and living expenses, plus entertainment.


Having savings for larger purchases and holidays


The prospect of our household income increasing in Oct 2016. when my husband is 65 (State pension+ some SERPS) and three more retirement pots become available


A further increase household income in March 2026 when I eventually get my state pension


Knowing that either of us have sufficient income when one of us is left alone.


We've worked hard for our whole lives to be comfortable, and now we are enjoying it

missbiggles1

Comfortable enough to be able to afford the mortgage which will finish when I'm 69 - after that, the money's going on a cleaner and more holidays!

Eco_Miser

I've a sofa long enough to lay full length on and fall asleep, so yes, I'm comfortable.



It's in a house I own absolutely, there's enough in the bank to live on for a few years, and enough in the ISAs to see me out. Then there's the pensions...
I really am lucky.

kidmugsy

Call no man happy until he is dead.

torbrex

I am actually more comfortable than I thought, I just got an estimate for my unneeded mortgage endowment and its worth about £3500 more than I thought it was :T