Got something to say or just want fewer pesky ads? Join us... 😊

How much is enough to live on ?







NooBHA

Well-known member
Jan 13, 2015
8,584
You cant judge it in todays market. If per say £4K was enough for you to live on now, it most certainly won't be enough to live on in 10 years time. So you need to think ahead as well as thinking of today.
 


happypig

Staring at the rude boys
May 23, 2009
7,972
Eastbourne
How long is a piece of string ?

21cm :
thumb_IMG_0724_1024.jpg
 


happypig

Staring at the rude boys
May 23, 2009
7,972
Eastbourne
You cant judge it in todays market. If per say £4K was enough for you to live on now, it most certainly won't be enough to live on in 10 years time. So you need to think ahead as well as thinking of today.

Good point, but the occupational pension is index-linked. Then in 2025 mrs H gets her pension of about £5k.
However, I can see that I might have to dip into savings more and more to "top up".
 






kevo

Well-known member
Mar 8, 2008
9,104
I wasn't being serious.

I'm disappointed. I was envisaging Triggaaar Mansions, with a string of servants attending to your every need.
 


sydney

tinky ****in winky
Jul 11, 2003
17,754
town full of eejits
Currently i bring in circa £2k a month and i put away £1600 each month for a rainy day so i guess i can live on £400 a month.
if you are living on 400 a month i reckon your rainy days are already here...:lolol: seriously though , fair play does your cardboard box have a roof on it..???
 


Seagull kimchi

New member
Oct 8, 2010
4,007
Korea and India
£10,000 a year. I plan on retiring from the game on my 50th. I've been saving £15,000 a year for a while now and the wife has been doing her bit too. Once we hit £250,000 I see no reason to work again unless I want to. The key to all this is realising that paying rent/mortgage is the most crippling and unnecessary hindrance we face. I haven't paid it for 15 years now and have no intention of ever doing so. Impossible if you live in the UK unfortunately.
 




Hastings gull

Well-known member
Nov 23, 2013
4,635
Currently 2.5k but we want to move and could easily reduce it to 1000.

Obviously very hard to estimate as we know so little of your lifestyle. Where are you moving to? A less fashionable part of the UK might save you a few bob, if you downsize, but 1000 a month might be that shade Spartan, considering all the bills that will come your way, and will you have enough for all the unexpected ones. When on a budget, it is all too easy to "save" on eg insurances, and the very moment you do, sod's law operates. Whatever happens, do ensure that you have a little nest egg on which you can draw.
 


Garry Nelson's teacher

Well-known member
May 11, 2015
5,257
Bloody Worthing!
I seem to remember reading somewhere that £15000 p.a was some sort of 'OK' level of income for retired people. (Not sure about how this works as a couple on the frankly unconvincing 'two can live as cheaply as one' formula.) So if you could scrape this together from occupational pension + occasional/reduced earnings and then await the meagre state pension you might be on track. But as most others observe it is hugely contingent upon outgoings. Then there's the whole downsizing/unlocking capital in property (if applicable) route...........

Anecdotal evidence from people that have taken the reduced income/reduced work trade-off indicates that few would go back to the full-time work option. When you think about it, full-time work (with all the bollocks it can bring with it) is one of the key variables to quality of life especially if you are unhappy/stressed - and/or a poor bloody commuter on Southern.
 


Garage_Doors

Originally the Swankers
Jun 28, 2008
11,789
Brighton
So you can survive on £25 each per week?! That's impressive!!

Sent from my SM-G928F using Tapatalk
I owe nobody mortgage free kids both working so they self sufficient so they don't cost anything now just food utilities and holidays but holidays come from savings wife has part time job so I assume she uses her money as well for some things
 




maffew

Well-known member
Dec 10, 2003
8,873
Worcester England
I owe nobody mortgage free kids both working so they self sufficient so they don't cost anything now just food utilities and holidays but holidays come from savings wife has part time job so I assume she uses her money as well for some things

,
Here is a comma for you to copy and paste. I think yours is broken :) Fair play to you though
 


Garage_Doors

Originally the Swankers
Jun 28, 2008
11,789
Brighton
,
Here is a comma for you to copy and paste. I think yours is broken :) Fair play to you though

Fair play, i typed it on my phone whilst queuing (on private land) to get in the boot sale this morning :)
Never posted on here before using my phone, thats how bored i was !
 


Triggaaar

Well-known member
Oct 24, 2005
50,206
Goldstone
I'm disappointed. I was envisaging Triggaaar Mansions, with a string of servants attending to your every need.
Not as disappointed as I am. I think (can't even remember now) I was responding the the thought of needing more than £2k a month, when your mortgage is paid off, you have no dependents, and you're retiring early.

If the OP has a big old house that requires a lot of maintenance, that could eat into the budget. It also depends on what he enjoys doing. Some hobbies are a lot more expensive than others. It's a question we can't answer for him, at least not without a lot more detail.
 




Triggaaar

Well-known member
Oct 24, 2005
50,206
Goldstone
Fair play, i typed it on my phone whilst queuing (on private land) to get in the boot sale this morning :)
Never posted on here before using my phone, thats how bored i was !
Looks like you need one of these too '
I don't seem to be able to give you a shift though.

I guess you don't get the full set on £400 a month.
 


Worried Man Blues

Well-known member
Feb 28, 2009
6,628
Swansea
My wife has a funeral plan she knows nothing about!

You would also need a nest egg for replacement boiler, house repairs and other incidentals.

On a cheerful note, the cost of funerals is rising by £1K per year, so make sure you have enough to be cremated. I've got a funeral plan, so my other half and/or my kids don't have to worry.
 




Albion and Premier League latest from Sky Sports


Top
Link Here