Have we got our sums right?? Appraise our plan.

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  • ams25
    ams25 Posts: 260 Forumite
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    DairyQueen wrote: »
    Add a few decent bottles of wine each week (another indulgence) and that's an extra £150 p.m.

    worth a wine buying trip to France (while you can !) . A years supply will save you a tidy sum....

    Just did this myself...only regret is I didn't buy even more!
  • Sea_Shell
    Sea_Shell Posts: 9,369 Forumite
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    £750 pm on food and drink!!! How many calories are in that lot. If I ate/drank £375 worth every month, I'd be the size of a house
    How's it going, AKA, Nutwatch? - 12 month spends to date = 2.31% of current retirement "pot" (as at end March 2024)
  • Terron
    Terron Posts: 846 Forumite
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    MK62 wrote: »
    I'd like to know how two people can spend just £16.25 on mobile phone calls/texts/data in a year too.....:eek:.......and I thought our £10pm sim-only contracts were being frugal...:wink:


    I recently switched to a £5pm one with unlimited calls and texts.
  • Terron
    Terron Posts: 846 Forumite
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    DairyQueen wrote: »
    I now loathe shopping, spend most days in jeans and tees, cook from scratch, rarely use my mobile and don't subscribe to entertainment channels/services. No smart phone or enormous TV. No fancy cars. Macs are our only techie indulgence.


    I often cook from scratch. Did venison for the first time yesterday,.
    I subscrive to sports channels - cheaper than going to see all the test matches in person. That get me discounts on entertainment channels.

    OH is in the process of changing his (10 year old) car. I suggested he may want something sporty and decadent as a treat this time as we can afford to splash. Perhaps a brand new something? We have a reasonable budget but he laughingly realised he would prefer a 6-month-old functional model. Not sure what he will choose but it's likely to cost much less than the budget.


    I have ab 11 year old MX-5. It was my company car which I bought at the end of the lease. I am planning to replace it next year using some of the TFLS from my pensions. I'll probably go for a new one abd then keep it another 10 years.

    Big indulgence recently is food. Our grocery bill is pretty extortionate as we prefer some branded goods (Beanz Meanz Heinz) and like the fresh food offered by local suppliers. Good quality meat from the butcher costs a bomb. OH enjoys a potter in Waitrose and (unlike me) often returns with decadent goodies or unusual ingredients. I haven't analysed it yet this year but suspect that our grocery bill has now increased to around £600p.m. Add a few decent bottles of wine each week (another indulgence) and that's an extra £150 p.m.


    I tried quite a lot of own brand stuff after loosing my job, but have switched back to branded ones in some cases where I preferred the taste. I get the weight watcher beans from Heinz. I prefer the taste and they have less sugar even than the low sugar/ones. (I am diabetic. I don't drink alcohol.
  • kidmugsy
    kidmugsy Posts: 12,709 Forumite
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    Terron wrote: »
    I'll probably go for a new one and then keep it another 10 years.

    We bought our last car at less than two years old and sold it for £150 after 20 happy years of it. Mind you, we had to bargain like billy-oh to get that last £50.
    Terron wrote: »
    I tried quite a lot of own brand stuff after losing my job, but have switched back to branded ones in some cases where I preferred the taste.

    Baked beans: I'm pretty happy with all the different low salt and sugar ones I've tried. My wife makes a curry powder which makes them even better. With, say, sausages and beans I enjoy some of the new low-alcohol beers that are around. What a healthy meal!
    Free the dunston one next time too.
  • DairyQueen
    DairyQueen Posts: 1,822 Forumite
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    Sea_Shell wrote: »
    £750 pm on food and drink!!! How many calories are in that lot. If I ate/drank £375 worth every month, I'd be the size of a house

    I guess some of us are lucky. It helps to have skinny parents and an aversion to sugar. :)
  • DairyQueen
    DairyQueen Posts: 1,822 Forumite
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    ams25 wrote: »
    worth a wine buying trip to France (while you can !) . A years supply will save you a tidy sum....

    Just did this myself...only regret is I didn't buy even more!
    Did you need to hire a van? Just trying to work out how much space would be required to transport a year's supply. :eek:
  • badmemory
    badmemory Posts: 7,788 Forumite
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    DairyQueen wrote: »
    Did you need to hire a van? Just trying to work out how much space would be required to transport a year's supply. :eek:


    A fleet more like - well I don't like wine (or my stomach doesn't) but I'm sure you get the drift. Now a tanker full of whisky! The stuff of dreams.
  • justme111
    justme111 Posts: 3,508 Forumite
    First Post First Anniversary Combo Breaker I've been Money Tipped!
    What is likely to happen is that if one has a cellar of cheaper wine the consumption is going to raise so that in the end one still spends a lot because one drinks more !
    PS. With fancy higher end good it is easy to spend £££ on it and the lower the calorie content the costlier it is and don't even start me on organic so no danger of being fat , more like hungry - 150 g of rocket leaves for about £ 2.50 is not going to go far in fattening one :rotfl:
    The word "dilemma" comes from Greek where "di" means two and "lemma" means premise. Refers usually to difficult choice between two undesirable options.
    Often people seem to use this word mistakenly where "quandary" would fit better.
  • Sea_Shell
    Sea_Shell Posts: 9,369 Forumite
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    We've been crunching some more numbers, and think we have a more solid plan forming....we hope!! It goes like this (feel free to pick holes) *All figures are estimates and subject to PA's, and changes to tax rules over the coming years. Assumes growth = inflation.

    We've got 3 years until DH is 55, so if I stopped work right now, we'd need approx. £45k cash to live on until he can access DC pension pot of approx. £130k. Currently our cash pot is approx. £120k.

    At 55 (2021) DH will then draw the maximum monthly amount he can, from DC, whilst staying within tax free allowances, which will be approx. £1300 ppm. He'll do this until his pot is depleted (c. 10 years). That gives us £16k pa to live on. In the event of a downturn, we plan to invest the £1300 in ISA's and live off cash reserves (£75k) until markets recover (5 years?!!)

    I'll then do the same, with a similar pot in 2026, so our monthly income during that time will be £2600, which will get mostly re-invested into ISA's. This will inflate our ISA pots by £150k ish, to £250k.

    In 2031 DH's DBs & SP come into play, which we estimate give us £1250 pm, so we'll have £2250 pm income. (continuing to invest what we don't spend or top up cash pots if they've been needed)

    In 2039 my SP becomes payable (not sure how much yet) but assuming I pay missing years to max it out. (unsure what the figures'll be by 2039!!)

    We should still have our ISA buffer of £250k +, to suppliement our income if we need to at that point. DH will be 73 by then - hopefully both still fit and healthy!!

    Well that's the plan...
    How's it going, AKA, Nutwatch? - 12 month spends to date = 2.31% of current retirement "pot" (as at end March 2024)
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