First year of retirement

katejo

https://forums.moneysavingexpert.com/discussion/comment/82116842#Comment_82116842

I have been using YNAB since August 2014 and that has helped massively with planning my retirement budget. My budget is smaller than yours (solo) but I also have a decent UK DB pension (SAUL).

thriftytracey

I am 7 years into retirement. I remember the first summer as delightful - just resting after 40 years of work. I did join every u3A group going but soon found many of them not what I expected so now just in 3 groups.

What I did find disappointing is the lack of Adult Recreational courses at colleges. I thought I would be signing up for all sorts of things but there is nothing.

I also had the time to do a lot more piano practice and now have monthly lessons which have greatly improved my knowledge and ability.

Enjoy cycling and walking, although this is mainly solitary - I did join a couple of cycling groups but the emphasis is on speed and me on my e-bike just couldn't keep up.

Due to husbands increasing health issues we have had 6 holidays this year and trying our first cruise in November - not sure I will like it but we shall see. Qualified for SP this year so we now have more cash to spend.

Also volunteer - I prefer the outdoors so do quite a bit of work for the village environment group. I did try Heart of England volunteering but I found it too exhausting!

katejo

https://forums.moneysavingexpert.com/discussion/comment/82118804#Comment_82118804

I am only 4 months into retirement but I am also disappointed at the reduction of adult day time recreational classes (compared to pre Covid lockdown). I remember wanting to attend a series of talks in Italian about different areas of Italy but they were every Thursday (no good when at work) and the school wouldn't let me book just 1 or 2 sessions. These daytime ones are no longer running and so many courses have switched to online only via Zoom or Teams or similar. I want to go in and meet the other students not do it at home. I have booked beginners Portuguese for next month because it is an 'in person' course

I have a question for you. How do you manage to book as many holidays if there are health issues? I don't trust travel insurers that much so I am reluctant to book several trips ahead. I limit it to one or two at a time.

I hope you enjoy your cruise. I did a short 4 day one with Riviera last year and I am considering trying a slightly longer one.

thriftytracey

https://forums.moneysavingexpert.com/discussion/comment/82119073#Comment_82119073

My husband has many chronic conditions, diabetes, pancreatic insufficiency plus all the other conditions associated with old age! I got fed up paying £300 - £400 travel insurance for every holiday, even for a week, (and all of these bar one was Europe), so I switched my existing bank account from Nationwide Flexaccount to Nationwide FlexPlus £18 per month, and that includes worldwide and cruise cover. I did have to pay £250 additional premium per year but it is still a saving. They use Aviva who have good reviews for claims. I do admit to relying on the GHIC for a short break in Amsterdam, and had one holiday in the UK.

We paid £750 for a two week P & O mcruise around Spain, Canaries and Portugal/Maderia in November. That is cheaper than two weeks in a hotel. OK - it was an inside cabin, but my perspective is that it is only for sleeping and we won't be paying for the drinks package, not being big drinkers (you would need to be an alcoholic to get through £100 of drink per person per day)!

bjorn_toby_wilde

That’s interesting. I hadn’t even considered Bank Accounts as an option for holiday insurance. I need to take a look at that.

I know health problems can massively increase insurance costs and the mere mention of cancer means most companies won’t insure you at all, even if your diagnosis means you’re not likely to suffer any issues whilst travelling.

Albermarle

https://forums.moneysavingexpert.com/discussion/comment/82121039#Comment_82121039

In the past you got free travel insurance just for having a standard Nationwide Flex account. However you still had to go through all the usual questions with the insurer they used and usually in the end it wasn't free.

Now it only comes with packaged accounts with a monthly charge.

bjorn_toby_wilde

https://forums.moneysavingexpert.com/discussion/comment/82121048#Comment_82121048

Still. Worth exploring I guess

katejo

https://forums.moneysavingexpert.com/discussion/comment/82120917#Comment_82120917

Interesting! I have never seriously looked at bank travel insurance because I thought it was only suitable for those in near perfect health! I do have a new Nationwide account but not the type which offers insurance. It's a back up account for me and I don't want to have to transfer money in every month.

glass_half_full

https://forums.moneysavingexpert.com/discussion/comment/82118804#Comment_82118804

Interesting, it sounds like you have found a good balance of activities and interests. I am thinking about this first year as a transition period during which I will figure out what I want to do. I don't intend to say yes to too much in the meantime. Out of interest, how long do you think it took to adjust?

glass_half_full

Meanwhile, I have returned my laptop and pass last Friday. So now I am officially retired! I received my lump which was £68k today. I am pleased to see OH's lump sum is showing as a pending payment on our account due to be paid tomorrow which is £34k. I was slightly worried this might not happen as her pension scheme has been less clear and so it is a relief to see that it has come through ok. I intend to pay off all debts which are around £32k and will leave a balance of around £76k tomorrow after that. I have also received a letter from my pension provider confirming the db pension will be £10,200 per annum. It looks like my db pension will pay on the 21st of the month and OH's will pay at the end of the month.