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What kind of lifestyle you could have in retirement. - Page 2

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What kind of lifestyle you could have in retirement.

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  • AudaxerAudaxer Forumite
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    ive budgeted £12000 a year when i go early 4 years short of retirement . single no mortgage no kids just bills . that figure includes holidays as well . once the state kicks in i should be well off .
    Well done, but I also don't know how you manage on that amount. Just wondering if you have a car?
  • Zero_SumZero_Sum Forumite
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    I'm genuinely intrigued as to how you could manage on this and have holidays too? I see a lot of threads posted by people who have huge pension pots and it makes me feel thoroughly inadequate!

    I reckon a single person with house paid off only needs about £7k to get by.
    So an additional £5k would easily pay for holidays & a few luxuries
  • stoozie1stoozie1 Forumite
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    Seriously?!

    Just my council tax is £2180.
    Save 12 k in 2018 challenge member #79
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  • stoozie1stoozie1 Forumite
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    I'm quite surprised that the 'minimum' level of eating out is one restaurant meal and 2x takeaways monthly.
    Save 12 k in 2018 challenge member #79
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  • MarconMarcon Forumite
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    Zero_Sum wrote: »
    I reckon a single person with house paid off only needs about £7k to get by.
    So an additional £5k would easily pay for holidays & a few luxuries

    Not if you live in a flat with a hefty service charge. Current service charge + council tax for me is £8K a year, and that's before you add in 'luxuries' like electricity, gas, telephone, insurance, water and food.
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  • edited 20 October 2019 at 7:00PM
    JoeCrystalJoeCrystal Forumite
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    edited 20 October 2019 at 7:00PM
    Zero_Sum wrote: »
    I reckon a single person with house paid off only needs about £7k to get by.
    So an additional £5k would easily pay for holidays & a few luxuries

    I agreed. Apart from the mortgage & pension payment, my monthly bills add up to £400 per month apart from holiday, shopping funs and so on.
  • westvwestv Forumite
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    stoozie1 wrote: »
    I'm quite surprised that the 'minimum' level of eating out is one restaurant meal and 2x takeaways monthly.

    Sounds pretty basic to me.
  • Zero_SumZero_Sum Forumite
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    Marcon wrote: »
    Not if you live in a flat with a hefty service charge. Current service charge + council tax for me is £8K a year, and that's before you add in 'luxuries' like electricity, gas, telephone, insurance, water and food.

    Then dont live in a flat with expensive service charges.

    My bills are just under £300 a month. If I were single that would drop to a bit under £250. Food for just me would be about £100 a month. So thats about £4k for the absolute basics.
  • fred246fred246 Forumite
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    I am interested that the 'minimum living standard' only includes contents insurance. I am no fan of paying for insurance I don't need but I see buildings insurance as pretty essential. I pay less than £100 a year for buildings & contents.
  • shinytopshinytop Forumite
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    Zero_Sum wrote: »
    Then dont live in a flat with expensive service charges.

    My bills are just under £300 a month. If I were single that would drop to a bit under £250. Food for just me would be about £100 a month. So thats about £4k for the absolute basics.
    Just over £3 a day for food is low. I thought I was economical with food but I spend way more than that.
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