What are you aiming for as an annual pension for you?

bluenose1

I have got to that stage where the house is that full of clothes and clutter I can't bring myself to buy anymore. I must have well over 20 shoes and handbags and my wardrobes are full. That is even with a massive declutter a couple of months ago.
Helps with the pension saving anyway x

[Deleted User]

We have 24k GBP in various DB vehicles, but most will not start for a while. Right now we have 1M GBP in stocks and bonds. Assuming 4% withdrawal rate, it gives 40k p/a GBP, 64k/a total.

We are looking for 100k GBP for the two of us, minus taxes. Still 11 years to go before 60. We are not set on it, the plan is to vary expenditure depending on the value of the pot in a given year.

ratechaser

Sea_Shell wrote: »

Being nosey, I'd be interested in seeing a breakdown of monthly spends from someone who wants (or feels they need) a £100k pa pension?? It'd sort of be like "Brewster's Millions";);)

Oh go on then, it's a rare early day home from work for me and as I'm one of 'those' people...

Let's say 90k (ish) net of tax if
its worked efficiently (between 2 people):

- 25k on travel (likely including an annual big family thing)
- 15k on food and basic household expenses (across let's say 3 properties, one where we are now, one in the West Country, one somewhere warm)
- 10k on eating out/entertainment
- 5k on clothes/shoes
- 5k on sports events
- 5k on wine (as in good stuff, like to lay down a few bottles)
- 10k on various philanthropic stuff (mostly local)
- 5k on presents/treats for family

And 10k for anything else I've not thought of yet

Obviously fag packet numbers, some under or over reality.

Sea_Shell

Yes, I can see that running 3 properties would need substantially more ££££!!

Sea_Shell

Not aimed at anyone in particular, large pot or small...but in these times...

Do you consider your environmental impact when making purchases of "stuff", especially if it's on the nice to haves, rather than essentials.

Nearly everything we buy needs manufacturing, shipping, packaging so obviously the more ones buys or consumes the more impact it has.

I'd never describe myself as an environmentalist by any stretch (I didn't rinse out that mayo jar I just put in the black bin!!) but I am becoming more conscious about what I buy and if I really need it. Especially if it's just an "upgrade" rather than to replace something broken or worn out.

Will having this item or doing this thing etc. really make me happier or healthier?

I'm all for having a bigger pot!!! But for me it's more about balancing quality time and financial security than anything else.

Thoughts??

Thrugelmir

ratechaser wrote: »

And 10k for anything else I've not thought of yet

No allowance for additions to the vinyl album collection or tri-annual HI-FI upgrade?

[Deleted User]

I eat very little beef or pork, one of the main sources of GHG. And we have solar panels on the roof. And we plant lots of trees.

OldMusicGuy

We're going green(er) in our retirement. We are downsizing, new property will have some triple glazing, solar panels maybe with storage batteries, will be heat efficient (timber framed with high level of insulation), induction hob instead of gas. Will still have gas c/h though, ground source heat pump not practical.

We will not be travelling abroad much, will have veggie plot and give over quite a chunk of the garden to "wild" areas. We don't eat a lot of meat, bake our own bread, spend very little on consumer goods (my spend on clothes/shoes last year was about £100).

It's a bit of a project for us, we do feel we need to cut down our footprint.

Spreadsheetman

OldMusicGuy wrote: »

We're going green(er) in our retirement. We are downsizing, new property will have some triple glazing, solar panels maybe with storage batteries, will be heat efficient (timber framed with high level of insulation), induction hob instead of gas. Will still have gas c/h though, ground source heat pump not practical.

We will not be travelling abroad much, will have veggie plot and give over quite a chunk of the garden to "wild" areas. We don't eat a lot of meat, bake our own bread, spend very little on consumer goods (my spend on clothes/shoes last year was about £100).

It's a bit of a project for us, we do feel we need to cut down our footprint.

That sounds great, my wife & I plan to do something very similar. Property will be an upsize for us, but in a non-urban cheaper area and a much more energy efficient design.

I also try to buy s/h items whever I can and buy as little unnecessary stuff as possible. You really can't take it with you.

JoeEngland

Sea_Shell wrote: »

Not aimed at anyone in particular, large pot or small...but in these times...

Do you consider your environmental impact when making purchases of "stuff", especially if it's on the nice to haves, rather than essentials.

Nearly everything we buy needs manufacturing, shipping, packaging so obviously the more ones buys or consumes the more impact it has.

I'd never describe myself as an environmentalist by any stretch (I didn't rinse out that mayo jar I just put in the black bin!!) but I am becoming more conscious about what I buy and if I really need it. Especially if it's just an "upgrade" rather than to replace something broken or worn out.

Will having this item or doing this thing etc. really make me happier or healthier?

I'm all for having a bigger pot!!! But for me it's more about balancing quality time and financial security than anything else.

Thoughts??

For me retirement will be more about time even if I did have more money then we do. Our big luxury is foreign holidays, but apart from that I don't spend much on non-essentials apart from books and an occasional DVD or CD.