Retirement Planning

DE_612183

Freecall said:

I think that this is totally the wrong way to look at things.  However detailed you are, things will get missed, capital purchases overlooked and so on.

The only real (and in fact simpler) way to look at this is as follows :

Total take home pay (over say last ten years) less total not spent (now sitting as savings) = Cash needed to maintain your lifestyle

Both 'total take home pay' and 'total not spent' (savings) are easy fugues to find.

It doesn't really matter what your individual expenses are, the fact is that the difference in these two figures is what you actually spend to maintain your current lifestyle.  This is true whether your lifestyle is frugal or lavish or anywhere in between, it's what you are used to.

 

Not really - I pay a mortgage now - I won't in the future, car loan and cards will also be gone.

Freecall

DE_612183 said:

Freecall said:

I think that this is totally the wrong way to look at things.  However detailed you are, things will get missed, capital purchases overlooked and so on.

The only real (and in fact simpler) way to look at this is as follows :

Total take home pay (over say last ten years) less total not spent (now sitting as savings) = Cash needed to maintain your lifestyle

Both 'total take home pay' and 'total not spent' (savings) are easy fugues to find.

It doesn't really matter what your individual expenses are, the fact is that the difference in these two figures is what you actually spend to maintain your current lifestyle.  This is true whether your lifestyle is frugal or lavish or anywhere in between, it's what you are used to.

 

Not really - I pay a mortgage now - I won't in the future, car loan and cards will also be gone.

So three things to deduct rather than dozens or even hundreds of tiny things which make up modern lifestyle spending.

Not sure what 'cards' are.

Albermarle

westv said:

dunstonh said:

Water does seem a very high figure.  We are £37 for water inwards, on a meter and we water half the paddocks during the summer months (or from April as it was this year due to it being a drought year so far) as well as daily replacement buckets of water and washdowns etc on top of personal use.  So, much higher than typical use.

Paddocks? Blimey, IFA fees must be good. 

Maybe racehorses even, if business is that good