Britannia Pub 8:27 Sat Apr 18
How much do you need to retire?
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How much cash do you need per year to pay the recurring bills, drive a decent car and have a couple of holidays a year?
No kids so just me and the missus to worry about and I am getting seriously fucked off with working after nearly 40 years.
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Replies - Newest Posts First ( Show In Chronological Order)
stomper
4:15 Sun Apr 19
Re: How much do you need to retire?
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I'm never gonna reach retirement, unless its forced on me
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claret50
3:30 Sun Apr 19
Re: How much do you need to retire?
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I retired almost 10 years ago and have never regretted not having to go to work each day to earn a crust.
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defjam
2:40 Sun Apr 19
Re: How much do you need to retire?
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WHO will be in good hands, OMM"s many user names will be my adopted kids!
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ILOVEPAOLODICANIO
2:39 Sun Apr 19
Re: How much do you need to retire?
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Dunno Id concentrate on cutting down on my bills and finding a job that earns something doing fuck all or at least a lot less.
Have a pile of cash to spend off of, less bills, and something coming in and your mrs working to some extent and you will be OK. Try and get away from this all or nothing approach and the idea of retiring completely (or at least the idea of no longer generating any income.)
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Hammer and Pickle
2:37 Sun Apr 19
Re: How much do you need to retire?
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It is your duty to WHO to reproduce.
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defjam
2:34 Sun Apr 19
Re: How much do you need to retire?
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Never planned for retirement or even close, always thought I'd be brown bread by 40...I'm 49 next month.
Just starting a new business, if it takes off I'll try smash it for a year or two?
If it doesn't happen by the end of the year then I've enough to fuck off travelling round the world for about 3 years!
No missus or kids and not likely to have either so the world beckons!
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stomper
2:28 Sun Apr 19
Re: How much do you need to retire?
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Alfs 2:26 Sun Apr 19
I cannot contemplate retirement tho' I'm being forced to work only 50% of my job.
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Hammer and Pickle
2:27 Sun Apr 19
Re: How much do you need to retire?
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Completely agree with you Alfs.
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Alfs
2:26 Sun Apr 19
Re: How much do you need to retire?
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I can't even comprehend the thought of retiring, and nor will I ever be able to afford to. So it's working till I gasp my last for me.
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DukeofDevo
2:20 Sun Apr 19
Re: How much do you need to retire?
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Don't know what you do but try the contract/ temp market 3 days a week good day rate keeps you ticking over and a long weekend
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Britannia Pub
2:15 Sun Apr 19
Re: How much do you need to retire?
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I would need to do something as I would get bored but I don't want to do another six years of full time work with the commuting and long hours. Just something to keep the brain ticking over and earn a little money to pay for any extras that we might want.
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Hammer and Pickle
2:11 Sun Apr 19
Re: How much do you need to retire?
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Two bottles of cava and 24 oysters - or there abouts.
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Hermit Road
2:08 Sun Apr 19
Re: How much do you need to retire?
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If it's only 6 years, it's got to be worth doing something till then, even if it just keep you ticking over.
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Britannia Pub
2:07 Sun Apr 19
Re: How much do you need to retire?
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Thanks for all the responses. I've answered some of the questions raised below
Mortgage free, debt free, have a final salary pension but have another 6 years before it starts paying, have a DC pension to come, don't spend what I earn and have various savings. I would need to fund myself until the pensions kick in.
Sounds like I would need around 200k - 250k to live the lifestyle I would like.
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Banjo
3:12 Sat Apr 18
Re: How much do you need to retire?
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Britannia Pub 8:27 Sat Apr 18
I retired about 18 months ago, a self funded retiree, much too early to get any government pension.
The first thing is you need much less than you think you do. Secondly, I live in Aus and I reckon the cost of living is similar to the UK, some things are cheaper, some more expensive.
In my case there is just me and the missus. 30k per year should do it for you, quite easily. Just remember is your planning to grow what you take from your investments 2% each year to account for inflation.
BTW, not working is brilliant. All the best.
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The_Phantom
2:23 Sat Apr 18
Re: How much do you need to retire?
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£923.46 but you have to save all your 1p's and 2p's
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bruuuno
2:15 Sat Apr 18
Re: How much do you need to retire?
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£12.60
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Joke Whole
2:14 Sat Apr 18
Re: How much do you need to retire?
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One (non-financial) thing to consider is "How much does your work mean to you?"
If you get a great deal from your job - even if it's not deeply pleasurable - suddenly knocking it on the head can leave a big gap in your life you may not easily be able to fill by just pottering around.
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Joke Whole
2:14 Sat Apr 18
Re: How much do you need to retire?
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One (non-financial) thing to consider is "How much does your work mean to you?"
If you get a great deal from your job - even if it's not deeply pleasurable - suddenly knocking it on the head can leave a big gap in your life you may not easily be able to fill by just pottering around.
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DukeofDevo
1:36 Sat Apr 18
Re: How much do you need to retire?
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Disposable income of about £2500 to £3000 per month should see you alright!
Plus some lump sums put away for the odd splurge every now and then.
Of course you have to factor in what your outgoings are
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