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Thread: Grim statistics on retirement age and life expectancy

  1. #181
    Join Date: Oct 2008

    Location: Aughton, Ormskirk

    Posts: 2,757
    I'm Jerry.

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    Quote Originally Posted by struth View Post
    ive hopes of getting full state pension, if i live long enough, but dont know if i will. they(the Govt) were supposed to pay in full credits for me looking after the wife all those years but ive heard no more
    Dont leave it Grant, find out. The information is there on the government website. You just need your N.I number.
    Jerry
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  2. #182
    Join Date: Feb 2013

    Location: W Lothian

    Posts: 55,839
    I'm Grant.

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    The lower working class often live in poorer housing stock in poor areas. This is bad both for moral and health.
    Thus many try to buy a house to get out of this dump causing them to have to work more, get stressed more etc.
    It's a catch 22 really for many. Working class men in n of England were likely to live 25 years less than more affluent southern equivalent

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    Grant .... ؠ

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  3. #183
    Join Date: Jan 2013

    Location: Birmingham

    Posts: 4,667
    I'm James.

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    The question I ask myself is how much money do you need to live on? I suppose it all depends on your anticipated expenditure after you have dealt with the essentials such as food and household bills. I would also account for all motoring costs and TV license etc. Also I would presume to have paid off mortgage and have no rental costs. So I have done the calculations and I get to £800 per month for a single person which is about £10000 per year. Ok this would be pretty frugal but you could live on it.

    Where it gets complicated is when you try and account for holidays, new cars, replacement items such as a washing machine or boiler and inflation. So I have calculated you would need about £20-30000 as a safety net fund. Of course if their are two of you and you both live together and put £800 each into the pot things look much better. But this was the bare minimum I calculated you needed to live.

    If you have grand holiday expectations, want to dine out often and change your car regularly then this blows this assumption out of the water. I would recommend then building a war chest of £100000 on top of this to indulge in this sort of retirement plan!

    I live fairly frugally now and don't spend money unnecessarily especially as I am still saving to retire and I like the challenge of a frugal life as it can be more rewarding and you appreciate things more.
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  4. #184
    Join Date: Apr 2012

    Location: Southall, West London

    Posts: 40,133
    I'm Geoff.

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    Quote Originally Posted by Jimbo View Post
    The question I ask myself is how much money do you need to live on?
    Not a lot. It's actually rare for me to spend more than a tenner a day, normal outgoings for the home aside.
    "when common sense, logic and plausibility are excluded. All that remain are foolishness and lies"

  5. #185
    Join Date: Jan 2013

    Location: Birmingham

    Posts: 4,667
    I'm James.

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    Quote Originally Posted by walpurgis View Post
    Not a lot. It's actually rare for me to spend more than a tenner a day, normal outgoings for the home aside.
    How much do you recon you can get by on per month?
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  6. #186
    Join Date: Sep 2009

    Location: west mids, UK

    Posts: 2,235
    I'm Phil.

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    Quote Originally Posted by struth View Post
    The lower working class often live in poorer housing stock in poor areas. This is bad both for moral and health.
    Thus many try to buy a house to get out of this dump causing them to have to work more, get stressed more etc.
    It's a catch 22 really for many. Working class men in n of England were likely to live 25 years less than more affluent southern equivalent

    Sent from my G8341 using Tapatalk
    I have been thinking about this , just working in a council block of flats where everyday they are smoking on the top flight of steps . everybody seems to smoke including roll ups , no wonder life expectancy is reduced .
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  7. #187
    Join Date: Apr 2012

    Location: Southall, West London

    Posts: 40,133
    I'm Geoff.

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    Quote Originally Posted by Jimbo View Post
    How much do you recon you can get by on per month?
    Never worked it out, but maybe £250? £30 of fuel lasts me a month. Don't smoke anymore, seldom have a drink, don't eat out and so on..........
    "when common sense, logic and plausibility are excluded. All that remain are foolishness and lies"

  8. #188
    Join Date: Oct 2008

    Location: Aughton, Ormskirk

    Posts: 2,757
    I'm Jerry.

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    Quote Originally Posted by walpurgis View Post
    Never worked it out, but maybe £250? £30 of fuel lasts me a month. Don't smoke anymore, seldom have a drink, don't eat out and so on..........
    And you live in London!!!
    I couldnt manage on 10 times that amount and have no mortgage, dont smoke and only drink a few pints at the weekend. Council tax is £3000 a year though.
    Jerry
    Hifi: IPL transmission line floorstanding speakers, Croft Series 7 power amp and a Standac. Squeezebox Touch
    Custom Hifi cables HA10SE headphone amplifier and Hifiman HE-400 headphones.
    AV system: LG 55B7, Denon AVR -x2300w receiver, Quad 12L (front) 11c Centre and 11L rear . Velodyne DD15 subwoofer.

  9. #189
    Join Date: Aug 2009

    Location: Staffordshire, England

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    I'm Martin.

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    My essential bills are under £200 a month so allowing a tenner a day walking around money I reckon I could do it on £500.
    Martin



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  10. #190
    Join Date: Apr 2012

    Location: Southall, West London

    Posts: 40,133
    I'm Geoff.

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    I could actually move to the other family home and live for sod all. Let the others pay, I paid for them long enough! I've reached the point where I can't really think of anything I want to buy, as I have everything I need.
    "when common sense, logic and plausibility are excluded. All that remain are foolishness and lies"

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