It's time to start digging up those Squirrelled Nuts!!!!

Tabby_cat

Goldiegirl wrote: »

For the first year, I was very cautious, and logged and recorded everything to an almost forensic degree. I felt quite bogged down by it all, so I stopped this high level of monitoring expenditure by the end of 2015.

Thank you Goldiegirl for your post. It's given me hope. I retired last December aged 52, DH was 62. I'm still in the "micro-managing" phase of financial planning and it's great to hear that I might let go of this one day...in a few years.

Goldiegirl

GSP wrote: »

Each to their own, but this part I don't understand. Sounds like your house was in need of updating and freshening up. You had to end up doing the decorating anyway so why not do this when you needed to, then you could enjoy it for longer. If you were saving sounded like you had the money.

Because we were at work, and therefore busy. We now have the time to do it.

Goldiegirl

Suffolk_lass wrote: »

For me it was the time taken to do these bigger jobs - I was working in London (2 hours in, closer to 2 and a half hours out) and this meant a 12-14 hour day - I was just too tired to take this on so we have done the same, and postponed some of the jobs.

That's the reply that I gave. It's so much easier to take your time to do things, rather than try and cram it all into weekends and holidays.

We are currently having our bathroom and cloakroom refitted, and we have a company doing it for us. It should be finished this week, but the total duration of the works will be just over three weeks. It would nave been really difficult to manage that around work

Goldiegirl

Tabby_cat wrote: »

Thank you Goldiegirl for your post. It's given me hope. I retired last December aged 52, DH was 62. I'm still in the "micro-managing" phase of financial planning and it's great to hear that I might let go of this one day...in a few years.

I totally understand the stage you are at!

I think I was micro-managing for two reasons. One to give me confidence that we were ok financially, and the other was because I used to log and record things at work, and I hadn't quite learned to put that mind set behind me.

For the first year, I had made a year plan, which had about 25 goals on it - looking back it seems a bit much.

I still keep records, but its much more slim-line now, and I still like to make a plan for the year, as it gives me a purpose - but it's a very relaxed kind of plan.

Sea_Shell

I'm still at the micro managing stage!!

Once we see the plan working and unfolding, maybe I won't, but I quite enjoy it, and it doesn't take too much time. It's actually a bit of a hobby.

DH is fairly hands-off with the finances...but he'll throw me questions, which I can answer accurately, as the data's there.

Suffolk_lass

I think I micro-manage because I still fear that we will get into financial trouble if I do not monitor things closely. My attitude is as a result of things that happened years ago and goes back thirty years really. When Mr SL and I met, we owed more on high-interest credit cards than we did on the mortgage, despite earning more that year than we ever have since. A couple of the agents he worked for went bust over the next four years, owing us between one and three months money and so my mild obsession with money and cash-flow began. I am in my first year of not working and drawing my occupational pension, but I am considering doing a Christmas job, if anyone will have me.

Our recent big purchase has tipped my equilibrium a bit - on the upside, with a bit more spending, we will have a touring van that will do 5-10 years, on the down-side we will have spent about half the cash that was to last a while.

In my head I know we will be fine, but in my heart I fret. What can I say? we are all different!

Parking_Trouble

This is my eighth day of retirement.

From the age of 17 I've never had to think about money because I've always earned good money. Been in DB pension schemes too, so that has been worry free.

Past 3 years or more I've been annoying the wife by creating numerous spreadsheets and looking at them and tweaking them daily.

I've been agonising about whether I could afford to stop work. The spreadhsheets told me I could but I had to keep checking.

Now I've made the leap I'll still be worrying about whether I've got the figures right for income and outgoings and whether the investments will perform well enough to pay for the exotic holidays and cover major emergencies.

Hopefully in a few months it'll settle down.

Because I've saved hard in the past few years we'd already got used to having a much reduced income so not a massive step. Just the change to start using savings to top things up until SP kicks in, in 5 years.

Loving it so far though, no longer tied to the work phone and laptop and not enough time to do all the things that interest me.

atush

Spider_In_The_Bath wrote: »

I did not do this at all.

You are just making things up.

I have not intimated, insinuated, or judged in anyway. I did not say that it was profligate / wrong / incorrect only that I could not work out how I would spend these amounts

Stop trying to stir things.

Now I remember why I don't usually post on the Pensions board. Won't bother again - not worth the hassle.

P.S. I live in an expensive area - another assumption of yours that was wrong.
P.P.S. I pay more Council Tax than you do.

Me making things up? Nope.

Me stirring the pot? Nope, you are.

Direct quotes from you:

When I see people wanting retirement funds of 30 - 40 thousand a year I have no idea what they would spend the money on.

When I see people wanting retirement funds of 30 - 40 thousand a year I have no idea what they would spend the money on.

I don't understand how you can be 'conservative' when (using your 30K figure) you would be spending £2,500 a month, every month.

On what?

Everyday bills (food, electricity, insurance, cars etc) are probably around £800 - £1500 a month depending on house size and family size etc.

So where does the other £1,000 go every month?

I really cannot work out what you must be buying, or paying for things.

Sea_Shell

Play nicely please.;)

Sea_Shell

Parking_Trouble wrote: »

Past 3 years or more I've been annoying the wife by creating numerous spreadsheets and looking at them and tweaking them daily.

I've been agonising about whether I could afford to stop work. The spreadhsheets told me I could but I had to keep checking.

I can totally relate to that!!

Have faith in the spreadsheet, all hail the spreadsheet!!