Area in UK where pensioners have the highest disposable income?

GunJack

It makes me laugh tbh, the 3 areas listed are bl00dy expensive areas compared to the majority of the country. We lived in Cambridgeshire for 9 years a little while ago so talking from experience!! 

Also, that average of £1300 a month seems a bit low, when I retire if that's all I've got think Id be a bit disappointed...especially if I lived in the areas listed!!

gocurlygirl

My pension is less than the disposable pensions mentioned in the thread.

cobson

Pec123 said:

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.

You give two different definitions of disposable income there: income after taxes have been deducted, and income after all the bills have been paid.  The two figures will obviously be very different.  The first one seems to be the 'official' definition, but given how low the figures that you quote are they sound more like the second one.  Do you have a source for the figures ?  The trouble with taking bills into account is deciding what is a bill and what is discretionary e.g. do you include groceries, medical expenses, house maintenance, etc ?

Albermarle

cobson said:

Pec123 said:

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.

You give two different definitions of disposable income there: income after taxes have been deducted, and income after all the bills have been paid.  The two figures will obviously be very different.  The first one seems to be the 'official' definition, but given how low the figures that you quote are they sound more like the second one.  Do you have a source for the figures ?  The trouble with taking bills into account is deciding what is a bill and what is discretionary e.g. do you include groceries, medical expenses, house maintenance, etc ?

Disposable income is your income after paying all  taxes, so your net income.

Discretionary income is disposable income minus all necessary spending on basics, like mortgage/rent, transport, food, heating and other utilities etc. As you say there will be some grey areas of what is really necessary or not ( like running a car ) .

barnstar2077

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.

Is there a link available for the recent data mentioned please? 

prowla

I think that there may be an assumption that may be flawed...

There are two groups of people mentioned:

A= "pensioners with a higher disposable income" and 

B = "pensioners living in an area".

The fact that there is a grouping of A and B does not mean you can infer B therefore A.

In other words it doesn't mean that moving to that area means you will have a higher disposable income.

Murphybear

Albermarle said:

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. 

We used to live in Milton Keynes.  It’s not particularly attractive but does have a lot of roundabouts

I had a temporary contract with the Open University and when I got offered a permanent contract we moved to a bungalow in a tiny village about half an hours drive.  From what I remember MK was more popular with younger people than retired. 

dinosaur66

i like colchester / mix of old and new / big enough with good road access / and traffic not as bad as most towns that size , and property from cheaper end but still not rundown to lexden which is 7 figures

but i never thought of it as an oap town / its definatley not a retirement town / maybe it is the fact that colchester has a lot of private housing as opposed to  council estates that brings the median income up as the highest

my favourite is the zoo in the south which i go fortnightly IMO best in the country but until this thread  i never thought about the fact that at 58 i am one of the oldest people walking around /  99 % are  younger than me i can only guess because it is very hilly

Murphybear

Organgrinder said:

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

What’s wrong with the Isle of Wight? I grew up in Southampton and we had school trips to the IofW.  I met my OH there 30 years ago next year.  It’s very pretty and they have what is usually regarded as the best weather in the country 

Ive just booked a 5 day trip there in March.  

Murphybear

If I were looking for somewhere to retire I’d look for somewhere that I really like and hope I could afford it.  In terms of disposable income everyone’s different and, as I think someone else has pointed out, going to an area where people have a higher disposable income doesn't mean you will.  Maybe those people have more money because they don’t go on cruises and don’t smoke or drink 

My favourite place for retirement would be Devon.  I lived there for a number of years.