How much to live on

blue.peter

[Deleted User] said:

@blue.peter am I able to ask what your retirement income will be including the state pension?

I can't stop you from asking, but I'm not sure how it'd help if I were to answer. After all, the whole point of this thread is that everyone's needs are different. What I say is more than enough for me might be ridiculously little to some people, but stratospherically high to others. The first group doesn't bother me, but I don't want to dishearten anyone in the latter group (if there is such a person here).

[Deleted User]

blue.peter said:

[Deleted User] said:

@blue.peter am I able to ask what your retirement income will be including the state pension?

I can't stop you from asking, but I'm not sure how it'd help if I were to answer. After all, the whole point of this thread is that everyone's needs are different. What I say is more than enough for me might be ridiculously little to some people, but stratospherically high to others. The first group doesn't bother me, but I don't want to dishearten anyone in the latter group (if there is such a person here).

  Ok, no worries at all. Best wishes.

silverwhistle

blue.peter said:

 After all, the whole point of this thread is that everyone's needs are different. What I say is more than enough for me might be ridiculously little to some people, but stratospherically high to others

Very good point. I'm in my football training gear and have a few minutes to comment before having to rush off. As I'm 69 next month a slightly longer warm up routine is required than the younger players, some of whom are young enough to be called girls!

I wasa lucky enough to get my company pension at 50, albeit reduced. Enough though to underwrite 7 years in the Alps teaching English ( a notoriously badly paid gig) but with time left to go skiing and all the other things you can do in Italy! Back home for family reasons it was pleasantly surprising to get my state pension as I'd been surviving on the company pension; driving old cars, not eating out much, having cheap ski holidays (it helps who you know!).

Slightly older friends got their pensions at 60 but I was always aware of the situation so that was never an issue.

As for the need to find things to do, it's never been an issue: house, allotment, football training and local league games, watching professional teams, reading, and so forth. I don't even have a tv on the basis that I'm fundamentally lazy and would vegetate too much. I've recently started sea rowing which is less stressful on the hips, knees and ankles. Tutoring one online student gives me a little frivolous spending money (untaxed, below de minimis level).

My general advice would be, don't worry about finding things to do, they'll find you and as for money, prioritise on what _you_ think important.

 

Whoops, need to fill my water bottle. 'night.

Organgrinder

Part of my personal "how much to live on" strategy is to lower my outgoings as much as I can. My sim only contract is coming to an end and I can (via cashback) get 40gb plus unlimited calls/texts for an effective £4/month. 

I've just come in under budget on the half yearly water bill too.

Ultimately though, I think it's getting harder and harder to get my bills any lower!

[Deleted User]

@Organgrinder do not become too fixated with lowering outgoings as much as you can. You seem to be doing fine and have a clear retirement income strategy. I am not sure you need to become a member of the 'I live on so little, aren't I wonderful (even though I have enough money)' hairshirt brigade lol! 
Best Wishes.

Organgrinder

[Deleted User] said:

@Organgrinder do not become too fixated with lowering outgoings as much as you can. You seem to be doing fine and have a clear retirement income strategy. I am not sure you need to become a member of the 'I live on so little, aren't I wonderful (even though I have enough money)' hairshirt brigade lol! 
Best Wishes.

Haha....I can assure you every penny saved is money to be enjoyed on the things I like doing!

Banking/bills/mobile phones etc are a commodity to me. Any money I save/make is used in the holiday/short break fund!

Currently in Sharm El Sheik (or Sharm El Break as i now call it as Mrs O is in a cast having relieved me of the insurance excess!).

sheilavw

If you dont mind me asking who is your phone contract with Organgrinder, I only have 6gb with EE sim only and I pay about £13, or perhaps a bit more a month

Organgrinder

Go to www.mobiles.co.uk and search sim only...network is id mobile - three basically.

Floss

sheilavw said:

If you dont mind me asking who is your phone contract with Organgrinder, I only have 6gb with EE sim only and I pay about £13, or perhaps a bit more a month

I'm with TalkMobile & pay £7.95 for 30gb, but have used Smarty in the past, their current offer is 50gb for £8.

https://smarty.co.uk/

luvchocolate

sheilavw said:

If you dont mind me asking who is your phone contract with Organgrinder, I only have 6gb with EE sim only and I pay about £13, or perhaps a bit more a month

Give EE a call I pay £8 a month for unlimited calls  and text and 6 gbt data