Area in UK where pensioners have the highest disposable income?

Pec123

Pensioners in the UK with the highest disposable income are often found in areas with lower living costs and higher average incomes. According to recent data, some of the top areas include:

1. Colchester: Pensioners here have an average disposable income of around £1,392 per month.

2. Milton Keynes: Residents enjoy an average disposable income of £1,280 per month.

3. Cambridge: Pensioners in Cambridge have about £1,234 in disposable income each month.

These areas offer a combination of relatively high incomes and manageable living costs, making them attractive for pensioners looking to maximize their disposable income. I want to maximise my disposable income.

mebu60

You would need a higher than average income for 1 & 2 and a significantly higher than average income for 3! 

If you want to maximise your disposable income then reduce your controllable fixed outgoings. 

Organgrinder

Interesting. Could I ask what they mean by disposable income? Is it after council tax and energy bills?  Or are other bills included?

Sarahspangles

Pec123 said:

Pensioners in the UK with the highest disposable income are often found in areas with lower living costs and higher average incomes. According to recent data, some of the top areas include:

1. Colchester: Pensioners here have an average disposable income of around £1,392 per month.

2. Milton Keynes: Residents enjoy an average disposable income of £1,280 per month.

3. Cambridge: Pensioners in Cambridge have about £1,234 in disposable income each month.

These areas offer a combination of relatively high incomes and manageable living costs, making them attractive for pensioners looking to maximize their disposable income. I want to maximise my disposable income.

It’s just a way of saying that people in areas of high employment have correspondingly higher pensions, and if they live outside areas which are expensive they have more spare cash.  The ones listed might be good retirement destinations for people leaving London but they’re not ‘chocolate box’ villages. Cambridge is pretty but according to a family member there it’s pretty dull unless you get on a train.

Pec123

Organgrinder said:

Interesting. Could I ask what they mean by disposable income? Is it after council tax and energy bills?  Or are other bills included?

Yes I find it interesting.Disposable income is the amount of money that an individual or household has available to spend or save after taxes have been deducted from their total income. It is essentially the net income that can be used for discretionary spending, savings, or investments. Disposable income is an important indicator of financial health and purchasing power, as it reflects the funds available for non-essential expenses and financial planning.So spare cash after all the bills are paid.

Pec123

Lord_Mattenly said:

I am not sure why this information may be useful to anyone, let alone interesting. It merely confirms that if you live in a wealthier area you will probably have a higher income, working or otherwise, than in a more deprived area.

It's useful/interesting to me. I am not going to have much of a pension so will maximise it.I did the same when choosing where to buy a house 24 years ago so that we could afford a whole house and not just a flat. We had to think out of the box to afford what we needed.The government statistics ONS is very useful.

Pec123

Sarahspangles said:

Pec123 said:

Pensioners in the UK with the highest disposable income are often found in areas with lower living costs and higher average incomes. According to recent data, some of the top areas include:

1. Colchester: Pensioners here have an average disposable income of around £1,392 per month.

2. Milton Keynes: Residents enjoy an average disposable income of £1,280 per month.

3. Cambridge: Pensioners in Cambridge have about £1,234 in disposable income each month.

These areas offer a combination of relatively high incomes and manageable living costs, making them attractive for pensioners looking to maximize their disposable income. I want to maximise my disposable income.

It’s just a way of saying that people in areas of high employment have correspondingly higher pensions, and if they live outside areas which are expensive they have more spare cash.  The ones listed might be good retirement destinations for people leaving London but they’re not ‘chocolate box’ villages. Cambridge is pretty but according to a family member there it’s pretty dull unless you get on a train.

I see what you're saying. It's true that areas with high employment often have higher pensions, and living outside expensive areas can indeed mean more disposable income. While the listed places might not be the quintessential 'chocolate box' villages, they do offer practical benefits for retirees, especially those moving from London. Cambridge, for instance, has its own charm and amenities, even if it might seem a bit quiet without venturing out. It's all about finding the right balance between affordability and quality of life.

400ixl

Cambridge is an expensive place to buy property. So unless you already have a house there paid off or would be moving from a higher cost area then it is likely to be a poor choice for someone with a lower income.

Albermarle

Cambridge is pretty but according to a family member there it’s pretty dull unless you get on a train.

Somewhat less dull than Milton Keynes though, and a lot more attractive, in the middle bit anyway. 

Nebulous2

I've thought a lot over the years about the relative purchasing power of nationally negotiated salary scales. As nurses living in an expensive area we were competing with a lot of better earning people to buy property. Nurses / teachers etc with the same wages in poorer post-industrial areas would have had much cheaper accommodation costs and consequently more disposable income. 

On retiring, instead of downsizing, we moved to a cheaper area. In the interim, living on one DB pension, we are doing okay, but once two state pensions kick in we will have more disposable income than we have ever had. 

It isn't what the people around you have as disposable income that matters, but what you have yourself, and to some extent how that compares to those around you! 

Organgrinder

It could be worse. You could live on the Isle of Wight.