Multiple Bank A/C Saving Scheme

mgdavid

caveman38 wrote: »

..... To be honest looking beyond 20 years has not entered my head. I will be 85 if not pushing up daisies......

if you are 65 now, then you have an even money chance of living into your 90s (presuming normal health and no life-threatening illnesses). On the limited information in this thread, you perhaps should cater for 'best case' and plan longer term.

TheBanker

mgdavid wrote: »

if you are 65 now, then you have an even money chance of living into your 90s (presuming normal health and no life-threatening illnesses). On the limited information in this thread, you perhaps should cater for 'best case' and plan longer term.

And if you do die... would your wife be happy being left with 33 bank accounts to sort out? My mum found it stressful enough dealing with my dad's banking arrangements which consisted of one current account and two savings accounts.

Goldiegirl

If the money isn't currently needed for day to day living..... Perhaps it'd be better to look to the long term and use the money to build a fund for the long term, rather than frittering it in the short term on clothes and hair?

My husband and myself are recently early retired

We don't operate on a system where money is separate. Our pensions are pooled, and all bills are paid from this joint income. It's not your money and my money, it's our money.

We've done a complete breakdown of all our outgoings, and the money left over is money for days out and other fun things. We buy and clothes from this 'left over ' money and I get my hair done from this money too.

My husband will reach state pension age next year, and our household income will increase when he gets his pension. He's also got pension pots totalling £140k. But we won't be spending the £140k, as we don't need it yet, it'll be invested for later.

It makes more sense to us to look at everything jointly. I don't need a bit of pin money to be an independent woman. We're equals, and share everything - perhaps looking at things jointly would work better for you, then this £100k could work better for both of you?

caveman38

Thanks for all the information but now the advise is getting a bit too much bordering on criticism. I didn't post originally for anything else than to see if I'd made any mistakes and as to whether I could tweak it up. that advice was forthcoming but I happy to close this thread please.

beefturnmail

TheTracker wrote: »

My friends think I'm crazy and have OCD, but I'm earning £2500+ gross per annum from basic bank accounts and they're earning next to nothing.

Yep mine too - even then ones who fight tooth and nail to get refunds of £10 from shops etc. People seem to think it's hard\time consuming to manage this many bank accounts, but once you have it all set up, it runs itself

colsten

caveman38 wrote: »

Thanks for all the information but now the advise is getting a bit too much bordering on criticism.

It isn't criticism if people do not agree with you. They are just sharing their opinions.

Goldiegirl

colsten wrote: »

It isn't criticism if people do not agree with you. They are just sharing their opinions.

A range of opinions and the ways other people do things is a good thing.

I've found so many ideas and inspiration from reading MSE. Things that I'd never thought of before. The input of other people is very helpful and can make you think about things in different ways, and try things that would never have occurred to you before.

caveman38

Goldiegirl wrote: »

A range of opinions and the ways other people do things is a good thing.

I've found so many ideas and inspiration from reading MSE. Things that I'd never thought of before. The input of other people is very helpful and can make you think about things in different ways, and try things that would never have occurred to you before.

I appreciate the help and advice that I've been given and am not ungrateful.