1. Avatar[email protected] says

    WE live a pretty decent life on £800 pcm – and I pay and overpay a mortgage on that.

    But lets just agree that the mortgage bites the dust in 3 years.

    My state pension would be £600 – so to match our current lifestyle I need to make only £200 per month extra.

    Of course I don’t always want o live so frugally -too darn close to the wire, but nice to know that the “basics” are nearly taken care of.

  2. Avatar[email protected] says

    This all sounds really reasonable but… I find it very difficult to calculate how much I’ll need in retirement because there are many things we don’t know. For instance, I’ll need much more if I get seriously ill (like have a stroke or something); on the other hand if I get dementia I’ll need care but won’t know about it (and I have left instructions in such case to be taken somewhere and left to perish). So I intend to play it safe – and become really wealthy before I get old.

    Second, starting early is a good point; however, for the people who have not started early – please don’t fret; start now and save big (particualrly if you are in the time of life when incomes peak and expenditure on children ends).

  3. AvatarMoneySmartGuides says

    Even with the average lifespan of 85 years, when I estimate how much I need for retirement, I assume I’ll live to 95. I’d rather plan for living longer, then plan for living until 85 and figuring out how I am going to pay for things when I run out of money because I lived longer than 85.

  4. AvatarMore Info says

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