Retirement

[SPUFF]

It's more than double state pension.The £6k of holidays seems excessive tho

Yeh as most other items are pretty essential a lot of folk wont survive on state alone. Word needs to spread about that really!

 

[Select coaches]

It's more than double state pension.The £6k of holidays seems excessive tho

All right if you’re a couple

 

[Tuono]

A lot of us don't even get the full state pension.

 

[BILLY BUS PASS]

No I understand that and you're right but, I'm guessing here, if you get mid to late 50,s onward and looking to retire there's a fair chance the kids are up, the house is paid for and you are looking at a number that keeps you 'comfortable'. Everyone's comfortable is going to be different but I'm just curious. We are 54, my Mrs wants to pack in tomorrow and 'make it work' but I'm more nervous and never feel like we have 'enough'

I tried it mate at 55 had more than enough to get by but found out at 55 I was too young to just get by. I still had the urge to want to buy nicer stuff etc I used to say my head wants to stop but my wallet still wanted to spend.
I’d say to anyone take time off see how you feel, I was off over a year then I did a year part time before jumping back to full time.
Best thing I did was make the decision to step off the hamster wheel cos I know if I wanted to take time off again I could.
Summit to remember though once you’ve touched ya pot you are limited to how much you can pay into it if you go back to graft and want to top it up I think it’s at 10k a year, which is still a decent contribution.

 

[Will e]

I like holidays and happy to compromise in other areas to afford them.

I agree though, we are allegedly one of the richest economies in the world but have one of the lowest state pensions in Europe.
15th of 30 for European countries.

Source How does UK pension compare to the rest of Europe? | Almond Financial

I suppose the next question is was this the case when the Tory's came into government?
Think I might know the answer.

 

[Fletch]

Still need a decent Drinkin fightin n buckin budget

 

[Pnematic1]

Still need a decent Drinkin fightin n buckin budget

Can you put some estimated costs against these activities ?

 

[Wilfy]

Done some working out and reckon once the mortgage is gone, £1400 a month will see me by. Reckon I will get a little part time job at 60 and pack the job in.

 

[Fletch]

Ideally I’ll retire bout 57-58, so still need fair bit income as will want to do plenty , agree that by time hit 70 that amount needed would start to decline pretty quick

 

[42]

I like holidays and happy to compromise in other areas to afford them.

I agree though, we are allegedly one of the richest economies in the world but have one of the lowest state pensions in Europe.
15th of 30 for European countries.

Source How does UK pension compare to the rest of Europe? | Almond Financial

Mainly because the comparisons are unfair, its apples & oranges. Other countries have a sort of nationalised work pension (& the private funds we have are less common), which look generous when you take the max / average, and compare it to our state pension which is (subject to various conditions) is the same for everyone. If you compare the minimum amount received, ours compares well against others.