This is money, how much you need in retirement

Sea_Shell

will-he-payitoff said:

We have 3 holiday abroad per year and run 2 small cars, eat out twice a week, house paid off and no dependant kids

I'd love to see a breakdown too.   I thought we did well squeezing every last bit of value out of our spends.  I may have a rival, so would be interested in how they do it too!!

We should compare notes!

zagfles

Sea_Shell said:

will-he-payitoff said:

We have 3 holiday abroad per year and run 2 small cars, eat out twice a week, house paid off and no dependant kids

I'd love to see a breakdown too.   I thought we did well squeezing every last bit of value out of our spends.  I may have a rival, so would be interested in how they do it too!!

We should compare notes!

OP did use singular for income "I currently live comfortably on £13000 net per year." so perhaps his partner has an income too? On £13k each it'll be easily doable and a lot more than you spend! Probably about what we spend accounting for a bit extra for having partially dependant kids (and paying for them when they come on holiday with us).

We usually go on a lot of foreign holidays but this year so far it's all been UK holidays for obvious reasons, and we've spent a lot more than we usually do on foreign holidays - UK is expensive!

Sea_Shell

zagfles said:

Sea_Shell said:

will-he-payitoff said:

We have 3 holiday abroad per year and run 2 small cars, eat out twice a week, house paid off and no dependant kids

I'd love to see a breakdown too.   I thought we did well squeezing every last bit of value out of our spends.  I may have a rival, so would be interested in how they do it too!!

We should compare notes!

OP did use singular for income "I currently live comfortably on £13000 net per year." so perhaps his partner has an income too? On £13k each it'll be easily doable and a lot more than you spend! Probably about what we spend accounting for a bit extra for having partially dependant kids (and paying for them when they come on holiday with us).

We usually go on a lot of foreign holidays but this year so far it's all been UK holidays for obvious reasons, and we've spent a lot more than we usually do on foreign holidays - UK is expensive!

We've just booked our 4th UK holiday this year.   Spends on these, including some eating out (some self-catering), will probably come in at about £2400.

That's for 19 nights in total, so effectively an "all inclusive" price of £126 per night.

jimi_man

Sea_Shell said:

zagfles said:

Sea_Shell said:

will-he-payitoff said:

We have 3 holiday abroad per year and run 2 small cars, eat out twice a week, house paid off and no dependant kids

I'd love to see a breakdown too.   I thought we did well squeezing every last bit of value out of our spends.  I may have a rival, so would be interested in how they do it too!!

We should compare notes!

OP did use singular for income "I currently live comfortably on £13000 net per year." so perhaps his partner has an income too? On £13k each it'll be easily doable and a lot more than you spend! Probably about what we spend accounting for a bit extra for having partially dependant kids (and paying for them when they come on holiday with us).

We usually go on a lot of foreign holidays but this year so far it's all been UK holidays for obvious reasons, and we've spent a lot more than we usually do on foreign holidays - UK is expensive!

We've just booked our 4th UK holiday this year.   Spends on these, including some eating out (some self-catering), will probably come in at about £2400.

That's for 19 nights in total, so effectively an "all inclusive" price of £126 per night.

Yes that's why I've stopped going away in the UK, as you've just proved, it's really expensive. 

One day the UK holiday industry will get a huge wake up call. They've been fortunate these last two years. 

hugheskevi

jimi_man said:

Yes that's why I've stopped going away in the UK, as you've just proved, it's really expensive. 

One day the UK holiday industry will get a huge wake up call. They've been fortunate these last two years. 

Myself and my wife prefer very active holidays, rather than relaxing in a hotel on a beach. I put a lot of work into planning overseas trips, eg, we are soon off to Greece to track bears for 5 days, head down to the Meteora area to see famous monasteries and then head over to climb Mount Olympus.

I have found over the last decade that these type of active holidays consistently come in at a total cost of about £100 per person per day, including everything, accommodation, flights, food, etc.

We also travel a lot around the UK, and that is cheaper, but only because we are a couple (costs are much higher per person for a single person, pretty much double) have a car, tent, gas stove, and do a lot of our own catering, either camping or at AirBnbs. The costs of a camping trip (or basic AirBnb or cheap hotel) to go hiking whilst buying all food at a supermarket is very reasonable. It isn't a like-for-like comparison however, and if we stayed in equivalent accommodation and did the same activities as overseas it would be a lot more expensive. Some of the prices to stay at places at weekends are insane compared to cost of overseas travel, with far more interesting things to do in many overseas locations.

german_keeper

will-he-payitoff said:

We have 3 holiday abroad per year and run 2 small cars, eat out twice a week, house paid off and no dependant kids

Blimey, on 13 grand per year that's interesting. This sounds very like our rough plans from about April 23 but we will only need 1 car.

It's been hard to work out exactly how much we will need because in the last 3 or 4 years due to lockdown, kid's relationships breaking up, kid's partners needing a roof above their heads and all sorts of toing and froing, we have had anything between 3 and 6 adults under our roof and the bills have been up and down like a fiddler's elbow.

But we will have an income about double that so very good to know.  

zagfles

jimi_man said:

Sea_Shell said:

zagfles said:

Sea_Shell said:

will-he-payitoff said:

We have 3 holiday abroad per year and run 2 small cars, eat out twice a week, house paid off and no dependant kids

I'd love to see a breakdown too.   I thought we did well squeezing every last bit of value out of our spends.  I may have a rival, so would be interested in how they do it too!!

We should compare notes!

OP did use singular for income "I currently live comfortably on £13000 net per year." so perhaps his partner has an income too? On £13k each it'll be easily doable and a lot more than you spend! Probably about what we spend accounting for a bit extra for having partially dependant kids (and paying for them when they come on holiday with us).

We usually go on a lot of foreign holidays but this year so far it's all been UK holidays for obvious reasons, and we've spent a lot more than we usually do on foreign holidays - UK is expensive!

We've just booked our 4th UK holiday this year.   Spends on these, including some eating out (some self-catering), will probably come in at about £2400.

That's for 19 nights in total, so effectively an "all inclusive" price of £126 per night.

Yes that's why I've stopped going away in the UK, as you've just proved, it's really expensive. 

One day the UK holiday industry will get a huge wake up call. They've been fortunate these last two years. 

I think that's quite cheap if it includes everything! Last UK holiday we went on we spent £170 per night, one before was £250 per night (although that was 3 of us and included ferry to NI). Eating out most days and lots of activities.

Last foreign holiday, a year ago to Greece, was £140 a night on everything, we ate out every night, hired a car, and did a few organised trips.

p00hsticks

will-he-payitoff said:

We have 3 holiday abroad per year and run 2 small cars, eat out twice a week, house paid off and no dependant kids

Like others, I'd be very interested to hear how you're managing to do all that on £13k a year, unless you mean that you have £13k and your other half has the same, or you have a separate pot put aside to cover large expenses such as car replacement / large house maintenance jobs etc..... Even if 'eating out' is only at Macdonalds, that;s going to come to £1000+ by itself.

Amateurretiree

We have no ‘dependent’ kids but we do help out with children’s shoes and clothes etc on a regular basis, and we have enjoyed long haul holidays costing £7-10 k annually for the last few years, and will continue to do so for the next few years health permitting.

I have an NHS pension ( 14k per annum) DH is in drawdown and we will have SPs in 3 years and 8 years.
Our monthly bills including groceries are covered by my NHS pension.
We are enjoying life while we can!

westv

will-he-payitoff said:

We have 3 holiday abroad per year and run 2 small cars, eat out twice a week, house paid off and no dependant kids

Let guess.
Poster is from Norfolk so thinks camping in Suffolk is "abroad"
Eating sandwiches in a field is "eating out"
2 small cars = 2 Sinclair C5s