How much to live on

[Deleted User]

Lummoxley. Many thanks for the information. Seems like a reasonable plan to me. Best wishes.

Savvy_Sue

trevjl said:

Why does everyone seem to think they are going to need a new roof ? my house is 52 years old as it the rest of the estate, nobody has had a new roof, well apart from the one that burnt down !!

I've been up and in the loft, there is nothing wrong with it. It will certainly see me out.

Some of us live in older houses than that, and the need for a new roof can creep up on you ... and sod's law it will do so just as every half-decent roofer in the country becomes exceedingly busy and booked for months ahead ... 

MIL had hers done a few years ago, they said it should be good for another 90 years, so like you she felt it would see her out! but it was definitely a post-retirement expense. 

Dizee123

We are due to have our detached 1930's bungalow roof done in the next month or so (should have been done by now but roofer delayed due to incessant rain and, as we negotiated a good deal, we don't want want to go elsewhere).  It also has the original asbestos tiles, so need special skip.  To have main roof retiled, ridge tiles renewed, flat roof extension renewed, chimney repointed and flashing renewed it will be £10.5K.   That should see us out without the worries of tiles blowing off and decapitating passers-by 

I do wish we had the money to have had it done 3-4 years ago as it would probably be cheaper and we could have had it done in the summer, but life is what it is  

Kim1965

Did you have an emergency fund for such things?? 

Dizee123

Yes, Kim1965, we have a decent amount of savings to cover roof, replacement windows, one replacement bathroom and 2 x newish cars.  Boiler and kitchen very recently replaced.  Also, a backup fund to cover the other unexpected things that life throws at us, or just to fritter away on holidays, presents for family if we get older and no disasters strike .  

When we were young our family had very little money and I remember the panic when an unexpected bill came in.  We grew up knowing the importance of balancing spending and saving and I didn't retire until we had more than enough to not stress over the larger costs.  My OH is still working as he is a bit younger than me.

Nebulous2

trevjl said:

Why does everyone seem to think they are going to need a new roof ? my house is 52 years old as it the rest of the estate, nobody has had a new roof, well apart from the one that burnt down !!

I've been up and in the loft, there is nothing wrong with it. It will certainly see me out.

I can do better than that. My roof has carved marks known as 'carpenters marks' to show the people building it where the joints had to be aligned. That means it predates the invention of pencils in the late 18th century. It could well be the original roof - around 280 years old. 

[Deleted User]

As Christmas approaches I hope everyone is prepared and looking forward to the next few days. I absolutely love it!
Looking forward to some post Christmas and New Year updates both financial and otherwise.
Best Wishes to you all!

mummytummy

Best wishes to you too Baron_Dale ☃️

Daffodil1234

Wishing everyone a good 2023.

having updated some figures, looked at cost of living items and so on, our current estimate for how much to live on is now updated to be £30,000 (for 2 adults plus 1 cat).  This has gone up approx 10% higher than I would have said a year ago. 

Gin_and_Milk

Daffodil1234 said:

Wishing everyone a good 2023.

having updated some figures, looked at cost of living items and so on, our current estimate for how much to live on is now updated to be £30,000 (for 2 adults plus 1 cat).  This has gone up approx 10% higher than I would have said a year ago. 

10% seems to be a good figure to work with.  Without wishing to tempt fate I can't see you needing any more than that.
Have a happy new year everyone, and all the best for 2023