The cost of living

Well_excuse_me.

downshifter98 wrote: »

The way I see it is that wife and I will qualify for the new state pension eventually and that will cover our basic spending (£10t) plus £6t extra so all we need on top of that is between £4t and £12t per annum to have a reasonable life - not forgetting that at 80 plus (if we get there) our spending will inevitably start to decline (we will keep care costs out of this for now). At the moment we can manage that, unless we desire more shiny new things and the older we get the less those things seem to matter...

You need to get a forecast, wifey and I qualify for the new state pension, mine is <£6k due to being contracted out.

Ganga

Yes, i will be quite happy in a 3 bed house. AS i will no longer have 3 boys and a dog to accommodate. i don't need acres. I would be happy to be on a bus route and near enough to walk to something.

And i have no worries at all if I pop it tomorrow. AS I have 3 boys and a spouse to inherit what i leave behind.

We used to feel the same,only one son and when he got married we had the two bedroom semi to ourselves,two grandaughters later the house seems smaller than before.

saver861

zagfles wrote: »

When I stop enjoying work, I'll retire, money isn't the driver.

Money is a necessity but not a driver - there are the essentials that need sorting but much more to it than that.

zagfles wrote: »

Great position to be in at work - if I get asked to get involved in a boring project I refuse, I simply don't care if I get marked down on my appraisal and only get a 1% payrise instead of 2% or even if I get made redundant!

Redundancy often the best option for those with the years and can access pension, particularly unreduced.

However, I'm not sure I would advocate refusing to do what is in a job description. Too many of those issues could lead to an outcome that might not nearly as desirable as redundancy and might impact on pension access etc.

greenglide

However, I'm not sure I would advocate refusing to do what is in a job description.

But of course you can decline to be interested in the latest "opportunity" that some poor sod will be lumbered with (would I be interested in six months interesting work in Bradford? Seriously? Don't be silly! ). Being close to retire men myself I can do precisely that as well as pointing out to my "resource manager" them I am lot at all concerned about one of our biggest customers wanting to take work back in house since it will take longer than my remaining time (which I have no told him how long that it).

It would be really amusing if it didn't affect my co-workers who could well be subject to TUPE, as I would if still there.

Happy days.

maxie014

I dont think ill need that much to live on when im retired,hopefully ill have got shot of the kids and their needs!
My old work mate now 70 went on a poor pension due to being shafted,retired at 62 never worked since,manages no problem,happy as a pig in you know what.
Compare that with another fella,i went on his retirement do 6 years ago,i even chipped in for his pressy!now 68,has no interests apart from working,works 38 hrs a week cleaning the factory he left,makes £650 a week through pensions/pay etc.
I dont begrudge anyone making a pensiontop up but theres got to be some end of working hasnt there?

seven-day-weekend

We live very comfortably on £25k p.a.

chiefie

I'm one, like some others on here, who's views of what is needed is not in line with my OH. She can't quite get her head round not spending on "stuff". Especially for the grown up kids it gives her pleasure. However, this is going to have to stop if we are to retire early &#55357;&#56835;

missbiggles1

seven-day-weekend wrote: »

We live very comfortably on £25k p.a.

I think that's adequate at our age and when fit and well. Unless your family will help as you get older, once you need help with gardening, cleaning etc you may find it a bit of a stretch.

margaretclare

chiefie wrote: »

I'm one, like some others on here, who's views of what is needed is not in line with my OH. She can't quite get her head round not spending on "stuff". Especially for the grown up kids it gives her pleasure. However, this is going to have to stop if we are to retire early ��

We don't buy 'stuff' and especially not for others.

Arkers

Ironically as fatbeetle currently lives in oz, there is a good link from the Australian Gov about the income required for differing lifestyles, obviously it applies to those retiring in Australia, however, I actually think that this is a very good benchmark for those wishing to get a good idea of the amount that might be required over here.


I think it was originally posted by Marinelife
http://www.superannuation.asn.au/resources/retirement-standard