How much to live on

otb666

I thought about the solar panel in garden but not sure how you would stop it getting nicked. Also have a couple of tortoises and dont want to fry them with chewing through electrics.

I also agree with helping the younger generation as their struggle is very real. I certainly quite happy doing simple living and pass on as much as I can now when they need it whilst they are establishing themselves.

I would feel at bit peeved if they bought in social 10% tax thingy as too late for parents who paid for their £600k care themselves I think covid was the reason they gave up a bit and they got zilch help with costs.

Organgrinder

Not convinced by "garden solar" either.

Neither am I wholly convinced by big project solar. Some systems are eye wateringly expensive imo, and it's all well and good advertising £1000/ year savings on a £10k system but what about the £500/year interest you're giving up?

That 10 year pay back is starting to look more like 20 and when you're nearly 60 it's maybe not so attractive after all.

That said I have someone coming out to talk about the cheap battery I mentioned. The payback seems ok but it also acts as a backup power supply and allows for the running of washing machine/tumble dryer/dishwasher in the day but using the 7p overnight rate. The tumble dryer is the one we want to use really due to knowing a few people who've had fires which makes overnight use a little worrying.

helensbiggestfan

Good Morning Everyone……just dropping by. Wow. What a summer.

Although I love summer weather I have to confess it was all bit much, even for me. So glad to see the rain. My poor garden is wrecked. The lawns are recovering but I have lost so many shrubs and plants. I obviously get far too much sun, so maybe garden solar is the answer for me. Lol.

I once tried the brown glass demijohn trick to heat water for washing up. It works but it's a bit of a faff. Depends how tight/desperate you are. It's surprising what you can do when you have to. Kettles - if you have a gas hob then an old fashioned whistling kettle is cheaper than an electric one. I don't use mine permanently but I do have one for power cuts. Couldn't manage long without a cuppa. Lol.

Anyway, I am so glad we are now in the "ber" months. Autumn is my favourite time of the year - the "season of mists and mellow fruitfulness" and all that. Autumn colours, candles, books, films, sofa throws, cosy sweaters, proper food, ooh crumbles….💕. Life's simple pleasures.

Although I shall be busy, I didn't achieve half of what I wanted to accomplish over summer, just "too damned hot" so now I'm cracking on and playing catch up. Replant the garden and then make a start on the interior. Time for a massive declutter, and then set to redesigning my living space. Goodbye to the millennium grey minimalism the previous owners left and hello warm, cosy "English Country House". My handyman is on speed dial. Lol. My bank balance will take a battering but who cares. I'm 75 - time for some luxury and some serious "nesting".

I agree it is so tough for our young folk, especially those who want to start families. I am so glad I was able to gift my sons deposits, nearly 10 years ago now. If I hadn't I shudder to think how long they would have spent renting. I can rest easy knowing they are settled and secure, both paying far less on mortgages than they would on rent. It did mean I have less than I could have had fir my retirement but I am happy with my simple life. As my old dad used to say "enough is an elegant sufficiency".

Still car free, don't really miss it and I certainly don't miss driving but keeping an open mind. I do a fair amount of shopping online. Just applied to renew my passport, gosh they are expensive. Thinking about a Norwegian cruise next year, and a trip to see family in Belguim, not been since before covid. Don't really fancy any long haul travel at the moment. Japan is still on my bucket list…….🤣😂

Moneywise…….just done my month end review. August was expensive for some reason, but fortunately mainly a few extra "one offs". The actually monthly spend is pretty consistent.

Going back to solar discussion. I wont bother for the time being. My current house is very energy efficient (B). My last house was "F" registered so leaked heat like a sieve. The bills are much smaller here. Having said that my eldest son and his wife work in the alternative energy sector and my youngest son is an electrician so I am always interested in new ideas.

Right time for breakfast……then a potter in the garden. Life is good.

"Il dolce far neinte". Rough translation - "The sweetness of doing nothing".

Albermarle

https://forums.moneysavingexpert.com/discussion/comment/82117909#Comment_82117909

I think in the end she will have to think about moving somewhere cheaper, if she wants to buy anywhere. Probably at least a 100 miles away. If she likes the Big City life, then she could still find that in places like Leeds or similar, and house prices less than half.

A shame, but it is the hard reality of living in London when only earning an average or below average salary.

Albermarle

https://forums.moneysavingexpert.com/discussion/comment/82119061#Comment_82119061

The links already posted will be the most informative, but AFAIK you can use them in an older house, as long as the wiring is not too old - not sure though what 'too old' means in practice.

The main restriction is that you can not store any of the energy. So to get the most use out of them you might have to plan to use appliances when it is sunny . Plus they only produce less than 1KW even when it is sunny, so will not make a major dent in your bills, although every little helps of course.

QrizB

Just picking up on this:

Kettles - if you have a gas hob then an old fashioned whistling kettle is cheaper than an electric one.

There's a link in my signature to a thread (edit: this one) all about kettles. It reaches exactly the same conclusion you have! In the winter when you're heating your house a stovetop gas kettle can effectively be free to use.

HUSKYPAL

https://forums.moneysavingexpert.com/discussion/comment/82121596#Comment_82121596

"enough is an elegant sufficiency". I like that.

It helps dispel the "just one more year" thinking, and makes me feel like retirement will settle over me like a cosy blanket.

helensbiggestfan

It is easy to be sucked into "just one more year". and before you know it, life has slipped by without you noticing. I guess it all depends on whether you have a job you really enjoy or whether you really are just marking time, and of course scaling back, doing consultancy work etc, or running a small business is a great way to wind down gradually.

I hadn't planned to retire in 2006, it was a bit enforced really by my husbands illness. I didn't have time to think. I made a quick conscious decision to look after him. Maybe not the best decision from a financial point of view but I knew from day 1 that his illness was terminal so I gave up work because I wanted to spend as much time with him as possible. No regrets.

My husband was 49 when he got sick and 57 when he died. Oddly enough he often used to say he would never make it to retirement age. I used to get a bit annoyed when he voiced these thoughts and I would chide him for being pessimistic but it turns out he was right.

I would advise anyone who is "on the fence" not to make their decision based purely on finances. There are a lot of variables to take into consideration. Life is more than a ledger.

My mantra "take the trip, buy the shoes, eat the cake". 😉. And use the nice china, wear the nice clothes, dont save them for "best". The best is now.

KintsugiWhippet

Wise words @helensbiggestfan. After a divorce at 60 following a long marriage (who knew that ex would run away with his exgf from school!), I had no choice but to carry on working. For about 2 years I worked 7 days a week in 4 jobs to get myself back on my feet. The ex is 6 years younger than me but, sadly, that fact wasn’t much taken into account in the financial settlement because I was earning about the same as him. The last thing I wanted was to have any contact with him ever again so I was happy to take the hit of a clean break. It has made the last 7 years challenging. And I have definitely been in ‘just one year more’ mode for the last 2 years after downsizing. I am so lucky to be in good health (I appreciate that every day and never take it for granted). That almost makes it harder to retire. There are a few of us aged 66 to 70 in my law firm and the pull to carry on working is very strong. However, I will be stepping down on 28 October, having finally plucked up courage to give my 90 days notice plus a bit extra. Yesterday, the managing partner was being slightly ‘petulant’ about my decision and I thought to myself ‘it does not matter’. One level of anxiety removed. I love your comment ‘life is more than a ledger’. The divorce has left me with a very different retirement financially than I was expecting. But, life being more than a ledger, it will be ok!

Organgrinder

One more year is so common a thought. On paper it sounds great .......another £800 a year in pension for example.

And yet that £800 becomes £640 after tax.

That said even now I think could I have done another year and then I look at my pension and my savings and realise I don't spend what I have now. My mindset is unlikely to change much to be honest so I can't see me frittering away what I have.

And maybe that's the thing. Being content with your choices and lifestyle.

This year alone I've been snowboarding, been on a city break overseas, had a week in the sun, got two weekend breaks coming up, changed my car, replaced the windows and managed to grow my savings. I have another three overseas trips booked over the next 12 months too.

I do now supplement my pension income with about 7 hours of work but that's more out of a want to remain mentally active.

My view is that once you can get the lifestyle you want or already have then go for it. Equally don't try and suddenly become someone you're not! I can't ever see me not looking for the best deal for example!

Today I'm not "working". I've a few jobs to do around the house. Need to go shopping. Meet eldest for lunch. Then ride my bike.

It's what I retired to do after all!