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Original poster

2K a month to live on for the rest of your life?

98 replies

BankHolidayBulb · 27/08/2019 18:31

Could you manage (assuming you don't work) on 2K a month for the rest of your life? Assuming no kids & no rent/mortgage. We can say it's easy now but I wonder what 2K will be worth in 30/40yrs time? What problems do you foresee?

OP posts:
SleepyKat · 27/08/2019 18:34

2k a month if no mortgage or kids would be fine now. Probably not in 30 years time. It'd need to keep up with inflation.

MaybeitsMaybelline · 27/08/2019 18:35

Assuming the person is 50 now, yes I reckon so.

How much does the average 88 year old need a month when there’s no rent to pay, even allowing for the depreciation of 2k

CherryPavlova · 27/08/2019 18:42

I’d struggle and many of life’s pleasures would disappear.

NoSquirrels · 27/08/2019 18:45

At my age, unlikely.

At my MIL’s age, generously.

Why do you ask?

Angrybird123 · 27/08/2019 18:46

With no mortgage / rent, yes totally.

MyDcAreMarvel · 27/08/2019 18:49

I’d struggle and many of life’s pleasures would disappear
Just you no mortgage or Kids?
Must have some very expensive pleasures!

RiddleyW · 27/08/2019 18:51

Yes I could manage. My bills are about £500 (including Netflix and broadband and phone) a month, I spend about £250 on food. So yes i could do ok I think. Obviously if inflation meant I had to spend double on bills then my 2k would need to keep up.

ControversialFerret · 27/08/2019 19:08

Yes, quite comfortably, assuming that it keeps pace with inflation and the mortgage is paid off.

Original poster
BankHolidayBulb · 27/08/2019 19:14

What would you miss out on Cherry?

The big problem I see is inflation. £1k cost back in 1990 equals £2,2k in 2018 according to an online calculator.

OP posts:
NewAccount270219 · 27/08/2019 19:16

If you have a sum of money that you could be split into £24k a year for 30/40 years then you should be investing at least some of it so there's some return on it, and then inflation won't be such an issue

TheBananaInPyjamas · 27/08/2019 19:19

I mean I earn less than that after tax and am paying rent and get by just about ok but it's not comfortable and I have to watch what I spend. Depends on the inflation, but if I wasn't paying rent it could be doable!

Crunchymum · 27/08/2019 19:20

@CherryPavlova

So £2k disposable income a month, for just you, will render you poor? Shock

Waxonwaxoff0 · 27/08/2019 19:20

I live on less than that now, am a single parent and pay rent and bills out of it. So I could certainly live on that if I had no mortgage and no DC.

I don't know what the future holds with regards to inflation though.

CloudsCanLookLikeSheep · 27/08/2019 19:29

I'd live on less now, invest the spare and live on the 2k plus investment interest/returns later. Compound interst and all that...

KurriKurri · 27/08/2019 19:32

I live on considerably less than that a month (less than half that amount) it isn't easy - I have to budget very carefully but it is possible.
On £2K a month would consider myself pretty well off.

ItIsWhatItIsInnit · 27/08/2019 19:32

Yes, that was my salary and I managed to save around 1.2k a month on that (paying £500ish for rent/bills). Could live off it comfortably especially if no mortgage!

Though I live in a 1-bed flat, drive an old banger and all my furniture/clothes is from charity shop. No kids or pets, don't smoke, don't drink.

nitgel · 27/08/2019 19:33

no, once all bills paid it doesn't leave much

RaininSummer · 27/08/2019 19:34

It's double what two of us live on now and, since I am over 50, I could live very well on that.

EileenAlanna · 27/08/2019 19:36

£2k a month is a lot. Most of that wouldn't need to be spent & would build up healthy savings.
It all depends on what any one individual sees as necessities or luxuries.
I spend about £50-£60 per month on all food, toiletries, laundry products etc. £38 pm on gas & electricity £72 pm on Council Tax & £42 pm on landline, broadband & TV channels. I live like this because I'm poor. If I'd £2k pm I'd be like a pig in clover whereas someone else would think it a hardship.
I'd put a bit more heat on in cold weather, buy some nice meat, have the odd takeaway, not always shop for reduced items or always have to frequent the local fruit & veg market for a bit past their best but very cheap stuff.
I can't drive so I've no car to buy or run & although I was a footloose hitchhiker off wherever the fancy took me in my younger day I haven't had a holiday for decades. If someone sees a car & regular holidays as necessary for their quality of life then that amount could easily be perceived as a hardship.

CharDeeMacDennis · 27/08/2019 19:40

Yes, I make less than that now and AM paying rent and don't struggle, sooooo....

Lunafortheloveogod · 27/08/2019 19:42

We’re on roughly £2k a month with a baby, mortgage n all of those fun bills.. if you can live off £2k a month rent free etc you’ve got a problem..

vampirethriller · 27/08/2019 19:46

I live on much much less now so yes.

TrendyNorthLondonTeen · 27/08/2019 19:48

I'd live like a king on that!

Lumene · 27/08/2019 19:50

I would be saving some now to help with deflation later. It’s more than enough for a great life if you spend wisely.

Fatted · 27/08/2019 19:54

Inflation is the biggest issue I'd say.

I could easily live off £1k a month without rent or child related expenses!!