Retiring

Tuearts right boot

Well-Known Member
Joined
26 Feb 2011
Messages
15,387
Location
Halfway up a mountain,bumfuck nowhere,Snowdonia.
Broadband - Smarty, excellent unlimited 4g - £18 a month
Water Meter bills - average £320-£350 a year (and I have 2 showers a day!)
Electric - average £400 a year

No mains gas where I am and I don't like the house too hot anyway so hardly ever have the leccy wall heaters on, plus I get lots of free wood for my logburner, more than I need.

So how well do you know Ben Fogle then....;)
 

Kazzydeyna

Well-Known Member
Joined
5 Oct 2009
Messages
2,475
Yes they estimate it on a family of four I think. I'd probably use about £20 a month.
So true. I had a water meter fitted a couple of years ago and I now pay £21 a month. Previously it was nearly £50 a month.
 

Nellies left peg

Well-Known Member
Joined
3 Dec 2017
Messages
4,249
I honestly wouldn't consider it frugal, or maybe I'm just used to the life I now live.
I can still afford to run a car on that budget, still afford decent quality premium brand food.
I'm mortgage free and just spent £50k having my house fully renovated so that shouldn't need any major expense in the next 15 years.
Did have a more expensive lifestyle in the past of flash cars and socialising but I'm well over that now! More than happy just spending my time walking, cycling, going for drives out locally.


Here's the basic figures, don't think I'm missing out anything obvious?...

council tax - £1000

utilities inc broadband - £1000

Weekly shopping -£2,400

car running inc petrol -£600

unexpected expenditure - £500-£1000
If it costs you £600 to run your car, insurance, tax possibly fuel and maintenance costs, tyres oil service you don't use it much if at all so might be worth binning it off
 

paulsimpson

Well-Known Member
Joined
16 Nov 2008
Messages
1,897
Thanks mate, it comes hard earned and with age. Some of the guys no longer with us I told to leave the stress behind, enjoy life. They were too brainwashed and fixated on "One more year" for this great retirement these extra years were going to get them but never did. Sad really.
Yes it is sad .
I retired fairly recently on an actuarially reduced pension after nearly 30 years service in the Education sector. Pension is low but enough -pays bills. Wife still working and is younger than me but has a plan for next 5 years and she will retire after that maybe.
Decided to down size house as 3 grown ups have moved out and was able to sell house and buy and do up a smaller house we bought for a song and have no mortgage now. That was the key idea I had when making the decision to retire. If house status is a big thing then retirement can be delayed. But with proper thinking, planning and courage it can be done once basic income/ savings are in the equation.
 

paulchapo

Well-Known Member
Joined
23 Nov 2010
Messages
22,138
Yes it is sad .
I retired fairly recently on an actuarially reduced pension after nearly 30 years service in the Education sector. Pension is low but enough -pays bills. Wife still working and is younger than me but has a plan for next 5 years and she will retire after that maybe.
Decided to down size house as 3 grown ups have moved out and was able to sell house and buy and do up a smaller house we bought for a song and have no mortgage now. That was the key idea I had when making the decision to retire. If house status is a big thing then retirement can be delayed. But with proper thinking, planning and courage it can be done once basic income/ savings are in the equation.

I sat down and worked out what I was actually working for. Bill's aside it was two holidays a year, watching City and the odd night out. I estimated my savings together with my navy pension and realised I could still do this without working. At the time I had just over six years before I could draw my state pension and once that kicks in its another £7,300 a year or so before tax. My seasoncard will be half price and I'll get free travel on public transport too. Pre covid I was spending at least 2-3 months abroad, nice and chilled. I don't regret doing it even though it does get slightly stir crazy living alone now and then but I'm comfortable in my own company.
 

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