The Senior Wonder Years!

Baron_Dale
Baron_Dale Forumite Posts: 622
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edited 24 July at 8:48PM in Over 50s MoneySaving

I have decided to open my own thread in this section of the forum. 

I am doing so to give myself an outlet to describe and reflect on my ’retirement’ as well as documenting how finances are hopefully supporting my ‘Wonder Years!’

I will still contribute to the ‘How Much To Live On’ thread which has been part of my life for three years now and from which I have learnt so much and met many interesting contributors. However, I also like the idea of now having my own space.

Please feel free to comment on, or just read, my ramblings. I would like to feel that some of you may be able to relate to my experiences both negative and positive and therefore also make suggestions that could enrich the lives of us all.

I will post some background details in the next few posts.


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Comments

  • Baron_Dale
    Baron_Dale Forumite Posts: 622
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    joedenise, many thanks for your comment. Although I have fewer pots, each item within the individual pots has its own budget. For example, within the annual spends pot, car maintenance, car insurance and MOT all have their own allocated budget.
  • MrsPorridge
    MrsPorridge Forumite Posts: 2,706
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    Happy New Diary Baron Dale - looking forward to reading over the coming months.
    Debt free and Keeping on Track
  • Baron_Dale
    Baron_Dale Forumite Posts: 622
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    One other question I had to consider when fully retiring in June was, ‘Could I manage all the household bills in the unlikely event that I was left alone in the coming twelve months before state pension begins?’

    Fortunately, the answer is yes. At the moment, I contribute £550 a month and my relative £450 to a household joint account. That £1000 a month covers all our household bills, some charitable donations, and my fuel costs. It runs at a small surplus each month. We also have BG Homecare. We also enjoy our or food and often have other family members to dinner.

    I calculated that with the 25% single person council tax discount and saving about £150 a month on groceries plus deceasing my monthly savings for a while I could easily manage. Hopefully, the situation will not arise.


  • mummytummy
    mummytummy Forumite Posts: 925
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    I too I have also bookmarked your thread Baron_Dale, I enjoy reading your posts 😊 
    MFiT-T6 #17 92k/105k
  • Baron_Dale
    Baron_Dale Forumite Posts: 622
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    I would like to buy a ‘newer’ car in the next couple of years. I already have some money in a car replacement pot, which hopefully I can add too when my state pension becomes payable. I may also investigate leasing a car. I have heard that lease arrangements that include servicing and other extras can be quite attractive. Does anyone have any views or comments in this?


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