Re: Retirement: an unsettling experience
Quote:
Originally Posted by
MOZZER2
just to change the slant slightly regarding retirement if your say between 60 -65 years of age right now what is a tidy sum of money to retire on to give a reasonable/ decent standard of living ?
with and/or state pension ?
As Taunton Blue Genie says, there's no magic number. Most of us adjust our lifestyle to our income levels.
A good rule of thumb that I use when working with people (I'm an IFA specialising in retirement planning and later life!) is around £2,000-£2,200 per month for a couple looking for a reasonable lifestyle. This figure was very similar to the recent Which magazine survey which came up with £2,170 per month. This would usually cover all the basics, plus hobbies, eating out a foreign holiday.
This would be a good target to aim for (assuming you'll be mortgage /rent free in retirement).
After working out what you need, the next step is to work out where the money's going to come from.
If you've not done so, get an upto date state pension forecast, and then understand exactly what your other pensions look like and what you can do with them.
Re: Retirement: an unsettling experience
Quote:
Originally Posted by
sneggyblubird
Well done, your going in all guns blazing and it sounds as if you're still healthy.I'm 63 and now retired and a big change is coming to me next monday as I'm having my lower right leg amputated.I'll be dammed if its gonna stop me but looking at things from a disabled point of view will be an eye opener for a while.
I hope all went well in the operation last Monday. I had a below knee amputation on my left leg in 1999. I was up and walking on a prosthetic leg in 3 months. What i will say is that it takes determination but you can do it. I have witnessed folks not trying and ending up in a wheelchair. Try not to be one of those and give it a real go. Good luck. By the way the staff in Rookwood hospital are lovely.
