Living on savings

fatbeetle

Oh thanks Martin!! Putting this out of Facebook has made me "hate of the day" for the envy brigade.....

https://www.facebook.com/MoneySavingExpert/photos/a.466253016762524.1073741825.235728459814982/1433647640023052/?type=3

jamesd

I lived on savings for many years, until I ran out and had to leave my home. It's part of why I've been saving more than 60% of my income for many years, helped by living in an inexpensive home, no pets, don't smoke, don't drink much, seldom eat out, no children by choice. So I've accumulated enough so I can afford to retire fairly young if I want to.

Easy for someone making more expensive spending choices to be jealous without seeing the life choices cause and effect and accepting the lower money and later ability to retire consequence. Also easy for a young person with little saving time but many earning years to be jealous without realising that they have those years of earning and can make their own life choices with the results that will flow from them.

From the MSE annual census September 2017:

23% retired, 48% employed full time, 12% part
42% degree/PhD etc., 8% 4 or less O-levels/GCSE etc.
Income per person:

• 9% under £8164 (single tier state pension roughly)
• 6% up to £11,500
• 7% up to £15,000
• 10% up to £20,000
• 21% up to £30,000
• 16% up to £40,000
• 10% up to £50,000
• 8% up to £70,000
• 4% up to £100,000
• 2% up to £200,000
• 0% up to £500,000 (37 votes)
• 0% over £500,000 (10 votes)

More content for those planning retirement or retired and for those above median income will presumably follow. After all money saving can be a choice and an earlier and/or more financially provided for retirement can be one result.