Have we got our sums right?? Appraise our plan.

Sea_Shell

I've just looked at the 2018 figures, and for mobiles, we only spent, so far.....£15 of top-up vouchers, and we've still got credit left!!!!!;):p:eek::beer:

westv

Sea_Shell wrote: »

I've just looked at the 2018 figures, and for mobiles, we only spent, so far.....£15 of top-up vouchers, and we've still got credit left!!!!!;):p:eek::beer:

You're not one of those people that always expects people to call you, are you? LOL!!

taktikback

I applaud the money saving stuff but it’s a bit silly not to account for when your pensions actually kick in rather than a random 20 year period. Your strategy is based around how much of your pot you will need to use but ignores the fact that you will have more than twice the income you require by age 65/67. There’s nothing wrong with saving a big pot of money - but you won’t need most of it so your investment strategy is a bit irrelevant. Having said that - you’re in a great place so enjoy your retirement!

AndyAdams

I am full of admration. Well done, I wish my spouse had a similar philosophy:)

DairyQueen

Blimey. Don't you celebrate Christmas? I gift more to my nephews 'pocket money ISA' in 4 months than your entire annual gift budget. Don't you have any family? if not, I would be very happy to loan you a few of mine

Sea_Shell

westv wrote: »

You're not one of those people that always expects people to call you, are you? LOL!!

No, I don't expect people to do anything!!! I'm just not a big chatterer on the phone. I'd rather pop round for a cup of tea to catch up with family etc. Like I said, we use e-mail, messenger etc. for most run of the mill conversations.

Sea_Shell

DairyQueen wrote: »

Blimey. Don't you celebrate Christmas? I gift more to my nephews 'pocket money ISA' in 4 months than your entire annual gift budget. Don't you have any family? if not, I would be very happy to loan you a few of mine

No, we're not really into Christmas and all the hulabaloo that goes with it.

However, i've rechecked the figures as they don't look right, and realised that they are the NET figures. We actually gave £400. We're not THAT tight!!!!!

I'm accounting for them differently this year e.g. splitting out in/out in separate categories, rather than just a minus figure in the outgoing column (if that makes sense)

Sea_Shell

taktikback wrote: »

I applaud the money saving stuff but it’s a bit silly not to account for when your pensions actually kick in rather than a random 20 year period. Your strategy is based around how much of your pot you will need to use but ignores the fact that you will have more than twice the income you require by age 65/67. There’s nothing wrong with saving a big pot of money - but you won’t need most of it so your investment strategy is a bit irrelevant. Having said that - you’re in a great place so enjoy your retirement!

Like I said, I plucked 20 years just to put into the calculator from an inflation perspective...it could have easily been 10 or 15.

We realise that we'll have plenty more at 65/67, and that's why it's our plan to start drawing down on the DC schemes ASAP at within Personal Allowance levels from 55, and moving the investments across to ISA's, so that once the other pensions are in play, we can access the money Tax Free, regardless of how much we want to pull out.

DairyQueen

Sea_Shell wrote: »

No, we're not really into Christmas and all the hulabaloo that goes with it. .

I am sympathetic to your view. The commercialism is outrageous and for those with zero religious affiliation, or kids, (like me) it's tempting to downplay the 3-month money-fest. However, OH and I are sensitive to the expectations of others in the family, and particularly the littl'uns.

We now limit our gift-giving to close family and/or children. Even so, our parents, his adult children, siblings (without kids) and minor N&Ns, account for a tidy sum each year. Add gifts to each other, and to charity, and our gift budget is in the ballpark of £5k.

The irony is that by the time you can afford all of the (luxury/unnecessary) things you desperately wanted at age 30 they no longer hold any appeal. I now loathe shopping, spend most days in jeans and tees, cook from scratch, rarely use my mobile and don't subscribe to entertainment channels/services. No smart phone or enormous TV. No fancy cars. Macs are our only techie indulgence.

OH is in the process of changing his (10 year old) car. I suggested he may want something sporty and decadent as a treat this time as we can afford to splash. Perhaps a brand new something? We have a reasonable budget but he laughingly realised he would prefer a 6-month-old functional model. Not sure what he will choose but it's likely to cost much less than the budget.

Big indulgence recently is food. Our grocery bill is pretty extortionate as we prefer some branded goods (Beanz Meanz Heinz) and like the fresh food offered by local suppliers. Good quality meat from the butcher costs a bomb. OH enjoys a potter in Waitrose and (unlike me) often returns with decadent goodies or unusual ingredients. I haven't analysed it yet this year but suspect that our grocery bill has now increased to around £600p.m. Add a few decent bottles of wine each week (another indulgence) and that's an extra £150 p.m.

Horses for courses I guess.

MK62

don't subscribe to entertainment channels/services.

:eek:

No smart phone

:eek: :eek:

or enormous TV.

:eek: :eek: :eek: