AIBU to wonder why a pensioner struggling financially would not use housing equity?

I think all im trying to say is my mum did everything 'right' she planned for a her retirement, downsized (not from a 4 bed detached, she had a 2 bed terrace) and im personally very glad she has more than 1k to live in her retirement flat due to the service charge and unexpected costs that come up and increasing frail health.

Im fully on board that more people should do what my mum did, but they arent generally then living off just 1k. They sometimes free up a bit of equity or have personal pensiins too so they generally have a bit more. It really improves quality of life imo.

I just felt a bit concerned for people who cant downsize as there property is already low cost and 1k is everything. I just though where do you get 2k for a boiler or 650 cos your clutch failed. I get its doable as people do it, but im surprised its considered more than ample rather than just enough and a bit tight. But it seems the person living on 50% more than this really thinks its in excess of what people need because there bills are low. So im worried for nothing.

Edited to add reducing her energy bills was one of the main deciding factors, plus level living.

But hey....wealthy boomers, eh? - asset rich, income poor.

One of the main reasons for not wanting to engage in equity release is because they wish to leave something for their children and also because things get complicated if they need to go into residential or nursing care.

Reasons for not moving are all outlined by other posters.

My council tax is cheaper because I bought a house where it would be. We pay £211/month.

My gas and electric combined is £150 a month because we bought an energy efficient 1980s house. Our house insurance is £32 a month, again, because we made a considered decision over the house we wanted.

I could go on, but just taking the three examples above, our utility bills are £278/month cheaper than yours. That isn’t accidental. It was a considered decision. And more pensioners need to make considered decisions rather than spending a fortune on their houses (bigger house = bigger bills and more maintenance) and then being surprised that they can’t make ends meet.

Well I don’t have a husband and I’m saying it.

Exactly. People lose their jobs overnight and all they get told to do is polish up their CVs and get back out there. They are expected to get on and survive with absolutely no notice. Meanwhile, today’s pensioners have had 40+ years to prepare for their retirement - how can it come as such a surprise to so many of them?

Age UK local chapters have handyman services, some of them will do things like lightbulbs for free.

Or - considering so many of these people don't want to sell their homes and downsize due to the "community" around them surely they could ask a neighbour.

We mow our elderly neighbours lawn, takes us two minutes its no trouble at all and if they needed anything else simple done we would be more than happy to help.

I know, that's why I said everyone needs to pay for that.

I was replying to the poster saying they needed to pay £50 to get someone to change a light bulb.

It's illegal to work on gas without the relevant qualifications.

Electric some things are notifiable and some not, the process of what you can do without notification is more complex.

It's hard to get a balance. Some people do less than they are probably capable of. That said I have also seen some pretty dismal efforts at DIY electrics.

People to me generally fall into two camps. Those who think they can't do anything and those that think they can do a lot more than they are safely capable of. There are few people that fall inbetween those two extremes.

@LizzieSiddal 100% with the planning ahead. You can't be the grasshopper that sings all summer and then moan when it gets to the winter of your years that you don't have enough.

Young people are constantly told, cut your cloth accordingly, live within your means but the second someone is of pensionable age apparently it's everyone else's problem that they didn't prepare financially. We are all either going to age or die, it isn't a surprise to anyone.

*please don't what-about with disability, illness etc. it is not useful to a general discussion to focus on individual cases

Nope. Only child of two only children. DC live abroad.

It’s stupidity to me to stay in a house with often hundreds of thousands in equity then struggling to heat it.

Our in-laws were in a similar situation last year, both in ill health with a 5 bed house with large grounds and numerous outbuildings. They had very little money to live on and we could see that very soon they will need to pay for help in the home or go into a carehome (FIL has Parkinsons) It took us two years to persuade them to move, eventually they
agreed. They are now in a 2 bed bungalow which means FIL can easily access everywhere, and they are better off than they’ve ever been in this lives as they have a lots of money in the bank. They are so much happier, eating out often, buying clothes and lovely furniture etc etc.

People need to plan ahead, we’re just 60 and have recently moved to a home we know we can stay in forever, it’s easily maintained and an easier garden than we had, plus equity in the bank which we can enjoy.

Do you not have any relatives who would do those things for you?

It's only the last couple of years my mum has started paying decorators instead of doing things herself but minor DIY, lightbulbs, flatpack assembly I or one of other DC, son in law or older grandchildren help with.

Unless you're actually a boiler maintenance person yourself, everyone needs to pay for that, for safety.

I didn't say it wasn't. I wouldn't go up a ladder anymore due to osteoporosis and arthritis.

She was just normal. Not exceptional at all.

It seems the least " able" people are those who came from rich families where money was thrown at things rather than skills taught

But that's choice If you can't afford to pay someone 3 times minimum wage to change lightbulbs etc then you would HAVE to do yourself. Or sit in the dark

Your mum was ✨exceptional✨

congratulations.

Can you see things from another person's (very common) experience?

Lol My mum born 1946 was perfectly able to do plastering decorating gardening diy and basic electrics and we were all taught these skills .

She got slower at doing them as she aged admittedly. So surely she was the " older " generation

You also have to want to do it. Our odd job man is £50ph. He's great and changes the lightbulbs too. I am handier than my DH.

That would be if I were on my own so I have deducted 25% from CT. I can't imagine I'd use much less gas a electricity as a singleton. I don't spend £100 on TV, I have included broadband and telephone.

I've actually worked out moving costs in relation to downsizing and once they are factored in, it would take ten years to claw back the cost so I'll stay where I love.

You are not wrong of course. But is has been the way of society and certainly for the older generation.

I'll be sure to tell the next old lady I see that if she cannot repressurise her boiler herself she is an idiot 🙄

Posters on here are shocking

Also - the people who most often spout "you should be able to do that yourself are the ones with husbands who do it... the fucking irony.

Or sort it out themselves. If you have the physical capabilities why would you need a " man" to do it. ?

Must have a much bigger place than me. And I don't have pets or spend over £100 on tv . So that be why it's higher

Is that just for you or other people sharing those bills

Have some sympathy for the maintenence. We probably arent talking having the aga serviced and her soft wood floors polished and the thatched roof redoing as per heritage england's rules.

For an old lady, living alone with no help, no tools or handy man skills, basic house hold maintenance and help can add up.

a man to come and look at the boiler can cost hundreds. Need a lock fixing? Another couple of hundred. Little leak somehere? Need aomething drilled into a wall? A blind putting up, new curtain rail? Electric kept tripping and you should probably have it checked out in case? Fence come down? Need replacement wired in fire alarm? Etc etc

I wonder how many posters on here have husbands who sort this stuff out.

Blimey:

Council Tax: 281
Gas and Electric: 290
Insurance (house) 100
Insurance car: 50
Car Tax: £12
Broadband, Sky, Phone, Netflix, etc: £130
Water: £50?
Boiler Servicing and Insurance: £30
Pet Insurance: £45
Pet Plan £35

About £1000 before leaving go.

I don't have a tv so don't waste money on licence and streaming etc

Sorry thought I'd added water. That's £20
And phone is £7.90. Ground rent is peppercorn about A£50 a year so u can add my ¢1 a week on if you like

Electric and gas are with utilita so no standing charge. It's only used to wash up or if I have bath ( shower is electric) and I'm usually away during coldest part of winter so not blasting heating

And where did I say anything about " cruising the world"

So even in your theory of £700 ( which is still higher even with the " extras " included that would still leave £800 a month spare