# Retirement



## Chascass

Following the spate of retirement threads I thought it would be interesting to see what you thought would be the minimum you could retire on, assuming you did not have a mortgage.

Personally, I know it is a VERY hard decision to make (one I'm glad I made) because invariably you have to make big adjustments in your expectations to suit your new income 

Charlie

PS (edit) The above is for a couple


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## Glandwr

Is that for 1 or 2 Charlie? There again maybe a harem.

Dick


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## eddied

*Pension income*

 Ciao tutti,
to lead a dignified lifestyle, in reasonabale comfort, but without many 'luxuries' Donna C and myself live off my State Pension of Euro 520 per month, and her State Pension of Euro 350 per month.
This obviously means we have to dip into savings for extras such as vehicle taxes/insurance, winter electricity bills etc etc.
We do not have private pensions as these were cashed in (at a loss) in the past to help out voracious children/grandchildren.
We do have an infinity of things that money can't buy; such as said children/grandchildren, a home that has views that alone have been valued at over a million Euros, a garden that allows us to produce a lot of our own fruit veg etc.
Whilst both of us are not in perfect health, at least all the plumbing works; :lol: and we can always glance behind us and find somebody much worse off.
Just a real pity we've had to give up motorhoming. :roll: 
saluti,
eddied


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## locovan

Do you mean in savings to back you or what the pensions come to???


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## Hezbez

'What is the MINIMUM you would require if you chose to retire, assume you do not have a mortgage'

- Do you mean minimum montly income per household?


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## Chascass

Dick 
I had 2 in mind, and if a harem, I don't think you would ever retire if you get my drift 8O  

Eddie
Nice one, all I require is your address.  

Mavis
Both, just what you would require each year to enable you and hubby not to work.

Hezbez
Yearly income per house hold

Spykal
I see what you mean :lol: (private joke) 

Charlie


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## GerryD

Surely the figure quoted in the survey is an annual income. If it is monthly then I am in the wrong place. Even with both of us working full time we struggle to hit £2k per month.
If the survey is quoting a monthly income then this is a forum for the mega rich.
Gerry


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## Chascass

Gerry my correction passed your post.  

Charlie


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## Otto-de-froste

Was it Groucho Marx who said "You'll be able to live like a king! you won't be able to eat, but you'll live like a king"

Maslows Triangle:
Our expectations for future lifestyle and quality of life are different to those of someone living in a Brazilian Favella, or Soweto

But in reality in this country we would get by on a lot less than we might expect
We just have to cut our cloth accordingly, and be grateful for all those things we are blessed with that money can't buy

Sticking my neck out? I'd be content with State Pension and 15k per year
I'd be very happy with SP + 30k

But neither will happen; so, as I'm arguably in 'Injury Time' right now, the most important thing for me is to have a few years to sit with my little wife (my blessing) and enjoy a summer evening, a blackbirds call on a damp morning, the smell of bluebells, listen to the grandkids' escapades
Or just to sit in a comfy chair and doze, dreaming of all the things I planned to do, but never did............and realising that I'm really not that bothered


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## Hezbez

Hezbez said:


> Do you mean minimum montly income per household?


Oops, I misread the figures quoted. of course you mean annual income, not monthly  :lol:


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## Jennifer

Interesting as this thread is, has the question is this per person been answered? Is the survey for one or two, please?


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## Chascass

Hi Jennifer

See post 6

Charlie


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## Pudsey_Bear

My gabber is well and truly flasted at how low a figure some think they might need, I put 35k per annum as a realistic figure of what I'd like to retire on, (fat chance) if you earned 15k each when working that would mean you need at least 30k as a couple to survive, assuming you keep the MH, as you'll use it more often and even if you don't go extreme, you are no longer at work, and staying at home isn't cheap.


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## Jennifer

Thank you for your response, I need to alter what I put in, and I think the title to the survey should be altered to show couple, as it clearly says "You". How do I delete what I put in the survey? Please

jenny


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## Pudsey_Bear

you can alter the title and the text in the post by clicking edit in the original post, not sure about editing the options though


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## Chascass

Sorry don't know how to, but have you heard the old saying 2 can live as cheaply as 1.

Charlie


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## Pudsey_Bear

not if you eat out you can't


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## Spacerunner

The thing I've found since retiring is how well I can live on a small amount.

The main requirement is to have minimum regular outgoings. That is, no mortgage, no HP and no credit cards.

With our combined State pensions and a very small private pension each we very rarely ever have to dig into our savings. Usually we only draw on our nest egg for the annual servicing, insurance and extra spending money if we are financing a major foreign tour.

So I reckon £15000 would suit most reasonable life styles with the occasional 'treat'.


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## Hezbez

This is an interesting subject for a poll however I think the results are skewed.

There will be households of one, two or more all thrown into the one pot.

It may be worth redoing the poll stating exactly what the parameters are. I think the only way to get a meaningful result it to state 'annual income per person'.

For example: 2 people in the household need £20,000 per annum to retire on - so the answer would therefore be £10,000 each.

Hope this makes sense :roll:


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## Jennifer

Of course, we are saying no mortgage, but obviously if in rented property, then that would make a lot of difference. Yes, no HP, No mortgage,No Credit cards, the question is what could you live on, and I agree £10K pa per person would be sufficient. If there are a couple, then £15K per annum. Cut the cloth to suit, and when you are not at work you do not spend so much money, i.e. clothes allowance, lunches, social work functions, birthdays, fuel, transport, etc etc......

Jenny


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## sallytrafic

Kev_n_Liz said:


> My gabber is well and truly flasted at how low a figure some think they might need, I put 35k per annum as a realistic figure of what I'd like to retire on, (fat chance) if you earned 15k each when working that would mean you need at least 30k as a couple to survive, assuming you keep the MH, as you'll use it more often and even if you don't go extreme, you are no longer at work, and staying at home isn't cheap.


Many people answering the poll would have been answering from experience. We earned far more than your figure and are spending far less to 'survive' as you put it Kev.


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## Chascass

That was interesting, nothing surprised me other than the number that would require a Minimum of £35,000 (or more?) before they would retire.

Like Frank my income before I retired was far in excess of that, but it was either work or play, so had to trim the sails.
Thanks for participating.

Charlie


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