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

Sea_Shell

What about travel costs once you're no longer driving too?

How far away is "too far" to expect lifts hither and thither, from family, for the trivial stuff (shopping*) or the important stuff (medical appointments)

What are people's plans for this in late retirement?

Rely on family, friends, taxis, public transport (if practical)


* Stuff you'd rather not just order on line.

SouthCoastBoy

Albermarle said:

NedS said:

Sea_Shell said:

ALARA343 said:

For my db (LGPS) there is roughly 4.5% reduction for every year you take it early and a 2.5% per year reduction in the lump sum. 
I plan on taking it 5Y early as the extra years in payment outweigh the reduction for at least 20Y by which time I shan't care much about whether the decision was right. 
The SIPP would be a last resort with the hope of passing it on to the children. 

As we don't have children, we need to bear in mind probably needing more £, later, as we'll have more need for paid help with stuff.  Even just routine stuff like gardening, cleaning, DIY etc etc, which children may have been able to help with, before we even get into any "care" needs.


We do have 5 niblings though...so might have them to call on.  Better keep them sweet😉

Yes, I've seen that first hand with my parents. Whilst they have been fortunate to be able to stay in their own home, their spending is ever increasing as they are no longer able to do things for themselves and have to pay someone for every little task that requires doing. They have a carer, gardener, cleaner, chiropodist, handyman... all of whom are in regular attendance. They are funding their own little mini-economy!
They talk about U-shaped spending in retirement - they are definitely near the top of the second leg of the U

Yet many posters to the forum, often say you need to spend, spend, spend, when you first retire, because once you are over 70, your spending/activity drops to near zero and by the time you are 80 you will be beyond caring ( which is rubbish for most 80 year olds)
I think this U shape is definitely more realistic.

I beg to differ on the U shape and definitely not planning for a U shape spend. From my experience of grand parnets grand parents in law , parents and parents in law, expenditure does diminish as we age, from what I have witnessed around 80. As I have said before 50% of my grandparents went into care homes but I'm not going to fret about that too much, I would prefer to enjpy the years 60 to 80 more rather than have more stashed away for a care home. Hopefully there may be some changes to the system before/if I get there.

My mum managed on pension credit in her own 3 bed house and with a substantial garden until 82. She did have a gardener for 1 hr to 2 hrs  a week to trim hedges and cut the grass but that was it. 

SouthCoastBoy

Sea_Shell said:

What about travel costs once you're no longer driving too?

How far away is "too far" to expect lifts hither and thither, from family, for the trivial stuff (shopping*) or the important stuff (medical appointments)

What are people's plans for this in late retirement?

Rely on family, friends, taxis, public transport (if practical)


* Stuff you'd rather not just order on line.

Again I can only go on experience of my immediate family, they all gave up cars ranging from 80 to around 86. By this time none of them were driving great distances, just local for shopping etc. Once they had given up cars 75% downsized and moved to flats that were close to supermarkets/shops and therefore could walk or take the mobility scooter to the shops. My mum was different she used to get the bus, then dementia started to set in and my brother did the shopping for her, that didn't last long though as she was soon unable to look after herself so went into a care home.

I should add we tried the ordering on line but she was just getting too confused, looking back on it that was most probably early dementia.

I get the feeling we all think we will be fine at 80 plus but I have seen many times once you get into your 80s issues start arising. There are always exceptions but generally people slow down. My father in law is a good example, very fit man and was active into his mid 80s, he's 91 in Jan, but for the last 2 or 3 years he  has had mobility issues, generally doesn't go out as can't really, sits at home bored most of the time. It must be very frustrating.

MallyGirl

Mine and OH's parents are still walking the dog, driving distance, riding vintage motorbikes and running a motorhome in their 80s. There have been a couple of new knees and a hip so far but they are a long way from flats and mobility scooters.

SouthCoastBoy

MallyGirl said:

Mine and OH's parents are still walking the dog, driving distance, riding vintage motorbikes and running a motorhome in their 80s. There have been a couple of new knees and a hip so far but they are a long way from flats and mobility scooters.

They are very fortunate, unfortunately my father died at 66 and my mother at 82.

barnstar2077

Sea_Shell said:

What about travel costs once you're no longer driving too?

How far away is "too far" to expect lifts hither and thither, from family, for the trivial stuff (shopping*) or the important stuff (medical appointments)

What are people's plans for this in late retirement?

Rely on family, friends, taxis, public transport (if practical)


* Stuff you'd rather not just order on line.

I don't think enough people think about this!

The amount of couples in their sixties that I see on these house building shows that construct places in the country, or on the edge of town, with multiple floor levels and normal sized door openings.  They never seem to think about what happens when they are too old to drive, or have mobility issues and need to get a scooter/wheelchair around the house.

Even though I am still in my forties I wish I lived in a bungalow as my accumulated injuries and ailments make the stairs a pain sometimes.

SarahB16

Sea_Shell said:

What about travel costs once you're no longer driving too?

How far away is "too far" to expect lifts hither and thither, from family, for the trivial stuff (shopping*) or the important stuff (medical appointments)

What are people's plans for this in late retirement?

Rely on family, friends, taxis, public transport (if practical)


* Stuff you'd rather not just order on line.

All really good points to consider.  

I suppose it will depend on where people live, i.e. a 15 minute city so can easily walk to most places or alternatively a more remote place would make shopping, going to the doctors, etc more difficult without a car. 

Does a person live in a cohousing scheme which has an intentional community ethos and everyone will really try to help you.  

I think something wonderful happened due to Covid and it was the emergence of WhatsApp groups for neighbours on the same road.  If you don't already have one perhaps you could set one up.  We really help out everyone on our road where we can do but of course various tradespeople still need to be used of course too.  Does your local neighbourhood have a 'Good neighbours' group that you may wish to join as they will take you shopping. 

For me personally I anticipate continuing with food shopping online but would walk to shops where I wish to browse.  I would walk to doctors and if I was ever not able to do this then a 5 minute journey in a taxi or a lift from a kind friend or neighbour.  I would also suggest you may wish to volunteer in your local community good neighbours, etc groups and hopefully when you are older you will then benefit from this help.  If these don't currently exist could you set one up (of course background checks would be required).   

Some people will prefer to move to 'more suitable' accommodation as they get older and others will prefer to continue living in the same place where they currently live.  

Sea_Shell

So what do we think about distances?

What would you consider "too far" as a round trip to expect help with?

20 miles, 50, 100, further? and how frequently would you be happy (comfortable) with asking for each.

Eg 20 weekly ?

LHW99

Where we are, they have a bookable minibus that you can phone for. We are also only about 10 mins walk from local shops, having downsized from a remote rural location. Where my mum used to live they had a similar volunteer car service that would take people to hospital etc appointments. There are also the free bus pass for those who are mobile enough.

We still drive as both (just) under 70, but expect that to gradually change over the next 10 years or so.

Albermarle

barnstar2077 said:

Sea_Shell said:

What about travel costs once you're no longer driving too?

How far away is "too far" to expect lifts hither and thither, from family, for the trivial stuff (shopping*) or the important stuff (medical appointments)

What are people's plans for this in late retirement?

Rely on family, friends, taxis, public transport (if practical)


* Stuff you'd rather not just order on line.

I don't think enough people think about this!

The amount of couples in their sixties that I see on these house building shows that construct places in the country, or on the edge of town, with multiple floor levels and normal sized door openings.  They never seem to think about what happens when they are too old to drive, or have mobility issues and need to get a scooter/wheelchair around the house.

Even though I am still in my forties I wish I lived in a bungalow as my accumulated injuries and ailments make the stairs a pain sometimes.

We have had posters on the forum, who are planning a big move to their large dream house in their 60's, with no thought about what will happen later.
The best one I remember was on a TV show about older ex pats having to come home due to medical issues. One said ' It never occurred to me that one of us could get really ill'